SAN DIEGO, CA, April 21, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- Medical Marijuana, Inc. (OTC: MJNA) (the “Company”), the first-ever publicly traded cannabis company in the United States that launched the world’s first-ever cannabis-derived nutraceutical products, brands, and supply chain, announced today growth milestones in its HempMeds® Brasil business segment, where the subsidiary is growing at a rate 75.8% faster than that of the country’s entire market, which continues to double in size annually. Additionally, HempMeds® Brasil was featured in one of the most respected medical magazines in the region, Medicina S/A, for its participation in a course being offered through the University of São Paulo on Cannabinoid Medicine, furthering its position as a category leader in Latin America’s economy.
The growth rate of the Brazilian cannabidiol (CBD) market has more than doubled annually since 2018, as confirmed by regulatory body ANVISA, the Brazilian equivalent comparable to the U.S. Food and Drug Administration (FDA). In the first quarter of 2022, HempMeds® Brasil grew at a rate 75.8% faster than the overall Brazilian CBD market. The Company foresees this trend to continue as HempMeds® Brasil is well-positioned to capture market share and other industry players exit the market, resulting in an exciting growth market opportunity for HempMeds® Brasil.
This opportunity is furthered by the subsidiary’s category leadership position, which it has been building since its entrance into the market in 2015. As an illustration of this position, HempMeds® Brasil’s Medicina S/A feature includes this snippet, which has been translated from Portuguese:
“The pioneering North American company in this market, HempMeds®, is an exclusive supporter of this course,” said the Executive Director of HempMeds® Brasil Matheus Patelli. Patelli added: “Since 2015, we have trained more than 1500 health professionals with our technical-scientific programs and we have more than 50 hours of classes available for free on our platform. It is part of our mission to disseminate more and more knowledge on this topic and it is a privilege to be able to support this topic in partnership with the main university in Latin America.”
The course features four HempMeds® representatives and is currently the most accessed piece of educational content on the platform.
“We were the pioneers of the Brazilian CBD market, having received the first import approval from ANVISA in 2014,” said Medical Marijuana, Inc. CEO Blake Schroeder. “While it took some time to root out many black market and underperforming competitors with low-quality products, it is so rewarding to see our business in Brazil take off and get the attention it deserves. We have followed the rules and believe that mentality will continue to pay off as we continue to seek substantial growth and prosperity in Brazil, and eventually all of Latin America.”
Brazil is the fifth-largest country in terms of landmass and sixth-largest in population with over 210 million inhabitants. The Brazilian economy is by far the largest in South America and the 12th largest in the world. The CBD industry in Brazil has seen significant growth in recent years since the country’s state health system approved CBD for import and distribution for medical patients with a select group of ailments and is the largest purchaser of CBD in Brazil. ANVISA has also approved dentists to prescribe CBD, an important step for improved flexibility on the market.To learn more about
HempMeds® Brasil, please visit www.hempmeds.com.br.
About HempMeds® Brasil
HempMeds® Brasil was the first company to receive approval from the National Sanitary Surveillance Agency (Anvisa) to import a product based on cannabidiol, a substance derived from hemp, a plant of the genus Cannabis. Currently, it is authorized to supply its products, which help in the control of diseases such as epilepsy, Parkinson's, chronic pain and multiple sclerosis, under medical prescription. For these indications, the products can be subsidized by the Brazilian government. HempMeds® Brasil is working on additional approvals for other indications. www.hempmeds.com.br.
About Medical Marijuana, Inc.
We are a company of firsts®. Medical Marijuana, Inc. (MJNA) is a cannabis company with three distinct business units in the non-psychoactive cannabinoid space: a global portfolio of cannabinoid-based nutraceutical brands led by Kannaway® and HempMeds®; a pioneer in sourcing the highest-quality legal non-psychoactive cannabis products derived from industrial hemp; and a cannabinoid-based clinical research and botanical drug development sector led by its pharmaceutical investment companies and partners including AXIM® Biotechnologies, Inc. and Neuropathix. Medical Marijuana, Inc. was named a top CBD producer by CNBC. Medical Marijuana, Inc. was also the first company to receive historic import permits for CBD products from the governments of Brazil, Mexico, Argentina, and Paraguay and is a leader in the development of international markets. The company's flagship product Real Scientific Hemp Oil has been used in several successful clinical studies throughout Mexico and Brazil to understand its safety and efficacy.
Medical Marijuana, Inc.'s headquarters is in San Diego, California, and additional information is available at OTCMarkets.com or by visiting www.medicalmarijuanainc.com. To see Medical Marijuana, Inc.'s corporate video, click here.
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.
FOOD AND DRUG ADMINISTRATION (FDA) DISCLOSURE
These statements have not been evaluated by the Food and Drug Administration. This product is not intended to diagnose, treat, cure, or prevent any disease.
LEGAL DISCLOSURE
Medical Marijuana, Inc. does not sell or distribute any products that are in violation of the United States Controlled Substances Act.
CONTACT:
Public Relations Contact:
Kathryn Brown
Account Director
CMW Media
P. 858-264-6600
kathryn@cmwmedia.com
www.cmwmedia.com
Investor Relations Contact:
P. (858) 283-4016
Investors@medicalmarijuanainc.com
