Cannabis
FoliuMed becomes largest exporter of medical cannabis from Colombia to Australia
FoliuMed, a medical cannabis company with manufacturing operations in the German city of Limburg and cultivation in South America, shipped the biggest ever delivery of medical cannabis from Colombia to Australia. Australia is after Germany the second largest medical cannabis market outside North America with over 100,000 patients. “This is the first of two shipments which allow our customer to supply about 5% of Australian demand at less than half the cost compared to local production,” says FoliuMed Founder and CEO, Oliver Zugel.
With Australian wages and energy prices amongst the highest in the world, producing affordable medical cannabis locally has proven to be a challenge. This has become a big issue for patients who pay over 200 Australian Dollars for a monthly dose, available only under prescription. Unlike in Germany – where cannabis is covered by health insurance – patients “down under” pay for their medicine out of pocket. “This limits access to medical cannabis to the well-heeled or those willing to take the risk to buy more cheaply from the black market,” says Zugel.
Foliumed’s shipment consists of pharmaceutical cannabis ingredients produced at its Colombian cultivation site at the foothills of the Andes. “With ideal climatic conditions, our energy consumption is minimal and we grow the plants organically,” says FoliuMed co-founder and LATAM CEO Diego Felipe Navarro. “Our teams in Colombia and Germany have worked for over a year with our customer, the health authorities and the Colombian government to ensure we adhere to the strict quality standards imposed by the Australian drug regulator TGA.”
The TGA recently further increased the quality demands on medical cannabis imports making them comparable to how pharmaceutical products must be manufactured locally and in Europe. “Given our German operations are EU-GMP certified, we offer Australian importers a full range of affordable solutions compliant with the new regulations,” explains Zugel.
Cannabis
Cannabis Capsule Global Analysis Report 2024: Market to Reach $79.2 Billion in 2028 – Forecast to 2033 Featuring GW Pharmaceuticals, Trulieve Cannabis, Green Thumb Industries, Tilray, Columbia Care
Cannabis
Sannabis, Inc. (OTC: USPS) Unveils Innovative NO LICK! Terpene Spray for Cannabis Products to Enhance CBD and THC to Achieve the Entourage Effect
Cannabis
Cannabis Concentrate Market to Cross US$2.4 Billion by 2030 amid Rising Medical and Recreational Demand
-
transfer1 week ago
IMC to transfer its Oranim Pharmacy shares back to the seller
-
Cannabis1 week ago
Right on Brands Announces Major Product Line Expansion via HONEY® Brands
-
Cannabis6 days ago
Sannabis, Inc. (OTC: USPS) Unveils Innovative NO LICK! Terpene Spray for Cannabis Products to Enhance CBD and THC to Achieve the Entourage Effect
-
Cannabis1 week ago
Cannabis Concentrate Market to Cross US$2.4 Billion by 2030 amid Rising Medical and Recreational Demand
-
CCELL®1 week ago
CCELL Launches Environmentally Conscious Eco Star AIO Vaporizer
-
Innocan3 days ago
Innocan Pharma Initiates FDA Approval Process for Liposome Injection Therapy for Chronic Pain
-
Curaleaf3 days ago
Curaleaf Completes Acquisition of Northern Green Canada
-
Cannabis2 days ago
Cannabis Capsule Global Analysis Report 2024: Market to Reach $79.2 Billion in 2028 – Forecast to 2033 Featuring GW Pharmaceuticals, Trulieve Cannabis, Green Thumb Industries, Tilray, Columbia Care