SAN DIEGO, Dec. 14, 2015 (GLOBE NEWSWIRE) -- Medical Marijuana, Inc.’s (OTC Pink:MJNA) cannabidiol (CBD) hemp oil – a legal U.S. cannabis product shipping to all 50 states – is creating global demand and a new business category for export. HempMeds Brasil™ has developed a portfolio of nine products for export into the Latin American prescription drug markets, of which three indications are approved and the full cost paid by the Brazilian Government.
To date, for HempMeds Brasil™ the three indications approved for export from the U.S. to Brazil are: epilepsy, Parkinson’s disease and chronic pain, with several more serious health conditions expected to be added over the coming quarter. Currently, Brazil is the world’s 7th-largest economy, as well as the largest national economy in Latin America – and has a population of more than 204 million people.
Across the globe, these indications affect billions of people:
- Epilepsy affects 50 million people worldwide. The Center for Disease Control says, “The total indirect and direct cost of epilepsy in the United States is estimated to be $15.5 billion yearly.”
- Parkinson’s disease affects an estimated 10 million people worldwide. According to the Parkinson’s Disease Foundation, “The combined direct and indirect cost of Parkinson’s, including treatment, social security payments and lost income from inability to work, is estimated to be nearly $25 billion per year in the United States alone.”
- Chronic Pain affects 5 billion worldwide, which includes migraine headaches. Migraines are the 8th most disabling illness in the world. Data from a 2002 survey done by the American Productivity Audit says, “Lost productive time from common painful conditions was estimated to be $61.2 billion every year.”
“As more Brazilians gain access to cannabidiol (CBD) hemp oil, and see efficacy with these indications that affect billions of people worldwide, the world can’t help but take notice,” says Dr. Stuart W. Titus, Chief Executive Officer of Medical Marijuana, Inc. Titus went on to explain that, “This is an important step for the U.S. economy exporting cannabis; hemp is on its way to exploding onto the global market. These approvals are what the company has been and will continue to push for. This is truly an historic time for the company and the cannabis industry as a whole. The approval of HempMeds Brasil’s™ products take the conversation from – if cannabis can become a drug and regulated appropriately – to that it has been and is now working in the healthcare system.”
By the end of 2015, the Brazilian pharmaceutical market is expected to be worth 27.6 billion U.S. dollars. Today, residents of Brazil who have a government-recognized medical indication and want access to RSHO™ hemp oil products, may do so with a doctor's prescription and approved import documentation from ANVISA. The government agency issued a statement on its website and also explains how to apply for an import certificate – or Brazilians may order RSHOTM hemp oil products directly from HempMeds Brasil™ and send their bill directly to the government for reimbursement. HempMeds Brasil™ has been working for more than a year on its formal product application and regulatory submission. The company expects this to take through 2016 to complete.
“This is truly a landmark time for our company and the industry. As we get additional indications approved, we then look to apply with the United States, European health authorities, and other international markets, to commence the process of drug applications and approvals for these same indications,” Titus says.
“We have a significant advantage over conventional pharmaceutical and medical cannabis companies,” Titus continues. “Our products are available in international markets, and as we grow that marketplace we have the flexibility to then back into additional markets with known efficacy and risk profiles. We also anticipate having the capital and cash flow from our current drug pipeline to achieve those necessary approvals, which may in many cases require clinical trials within the target indications and countries. I would like to also take this time to thank our dedicated team and supportive shareholders, whom without, none of this would be possible. I would also like to thank all of our families and patients who have fought so hard to have access to these kinds of products.”
For additional information on RSHO™ hemp CBD oil products available for import, visit the HempMeds Brasil™ website here.
About HempMeds Brasil™
HempMeds Brasil™ is a corporate affiliated company of Medical Marijuana, Inc. (OTC Pink:MJNA) and is its exclusive distributor of RSHO™. HempMeds Brasil™ offers specialized marketing, sales, customer service, and logistics to supply natural hemp oil rich in CBD to the medical community and families of Brazil. For more information on HempMeds Brasil™ and their all-natural hemp oil products, visit: http://www.hempmeds.com.br. The Company invites the public to get involved in the conversation on the expanding cannabis industry with HempMeds Brasil™ through the Company's social media channels Facebook, Twitter and blog.
About Medical Marijuana Inc.
The mission of Medical Marijuana, Inc. (OTC Pink:MJNA) is to be the premier hemp industry innovator, leveraging our team of professionals to source, evaluate and purchase value-added companies and products, while allowing them to keep their integrity and entrepreneurial spirit. We strive to create awareness within our industry, develop environmentally friendly, economically sustainable businesses, while increasing shareholder value. For more information, please visit the company’s website at: www.MedicalMarijuanaInc.com.
FOOD AND DRUG ADMINISTRATION (FDA) DISCLOSURE
These statements have not been evaluated by the FDA and are not intended to diagnose, treat or cure any disease.
FORWARD-LOOKING DISCLAIMER
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Medical Marijuana, Inc. to be materially different from the statements made herein.
LEGAL DISCLOSURE
Medical Marijuana Inc. and HempMeds do not sell or distribute any products that are in violation of the United States Controlled Substances Act (US.CSA). These companies do grow, sell, and distribute hemp-based products and are involved with the federally legal distribution of medical marijuana-based products within certain international markets. Cannabidiol is a natural constituent of hemp oil.