Tikun Olam Cannbit Pharmaceuticals, an Israeli medical cannabis company, has hit the industry headlines as it makes its foray into the Brazilian market. 

On Wednesday, April 28, the company announced that it had officially signed an agreement with Ease Labs — a multinational corporation focused on the development, distribution and production of natural products.

Recognized as the world’s first professional cannabis nursing clinic, the global pioneer and leader in medical cannabis research is anticipated to start serving one of the largest growing markets in South America.

Under the terms of Tikun’s medical cannabis export agreement with Ease Labs, the Brazilian company will acquire a quarter ton of CBD and THC-enriched oil, as well as various other types of medical cannabis products, before distributing them among the ever-growing nascent market.

“This is the first step in the Brazilian market, which is considered one of the largest markets in South America with tremendous growth potential, as part of the realization of the company’s strategic plan and business goals,” said the CEO of Tikun, Avinoam Sapir.

Equally excited about the cannabis export partnership is the CEO of Ease Labs, Gustavo Valarez. He recently told reporters that he and his team are thrilled to be involved in a long-term partnership with the Israel cannabis company.

“Thanks to the knowledge, experience and quality of the company’s raw materials, together with the local cannabis industry in Brazil, we are confident that the therapeutic products, intended for oncology patients and chronic pain sufferers, will facilitate and improve their quality of life – and, not least, at affordable prices,” expressed Valarez.

Tikun inked deal to export medical cannabis to Brazil in 2020

Last year, a Memorandum of Understanding (MoU) and cooperation was signed between Israeli company Tikun and British-headquartered company ITH Pharma. The deal confirmed an agreement for CBD oil and other types of medical cannabis products to be distributed around Brazil.

As per terms of the agreement, ITH Pharma has agreed to purchase one ton of cannabis oil from Tikun on an annual basis. The oil will be acquired in bi-monthly doses.

With more than 211 million people living in Brazil, according to the LATAM report by research firm Prohibition Partners, the country boasts the biggest prospective market for cannabis in Latin America. Within the next three years, analysts predict that Brazil’s medical cannabis market could attract almost three million people.

Moreover, a recently conducted analysis by Prohibition Partners showed that the number of cannabis patient associations and medical cannabis prescriptions in Brazil are surging, with prescriptions jumping 135 percent since 2019 to more than 14,500 authorizations.

Brazilian customers receive cannabis shipments from PharmaCielo

The medical cannabis market in Brazil has also seen a significant contribution from the Canadian parent of Colombia’s leading cultivator and producer of medicinal-grade cannabis extracts, PharmaCielo Colombia Holdings S.A.S. 

Back on April 26, PharmaCielo confirmed that it had finalized its first shipments to two Brazilian customers. The news came about following an audit to authenticate PharmaCielo’s adherence to Brazilian Good Manufacturing Practices (“GMP”) standards.  

One of the largest Phyto-Therapeutics companies bagged the first shipment of medical cannabis from PharmaCielo with the intention of utilizing the Colombian company’s application programming interface (API) to prepare custom formulations. Those formulations will serve the existing and future product registry, as well as local market sales. 

Another shipment also recently arrived at a major pharmaceutical company that already serves the market with a CBD product; the goal of this shipment agreement is to harness PharmaCielo’s expertise as a key supplier.