LIMBURG AN DER LAHN, Germany – FoliuMed, a medical cannabis company with manufacturing operations in Germany and cultivation in South America, recently concluded two major sales agreements with customers in Brazil and Colombia. Under the terms of the deal, the customers commit to purchase 130,000 units of FoliuMed’s oral cannabinoid solutions with a binding take-or-pay clause for the first 35,000 units in 2022.
The products are high dosage, full spectrum formulations derived from FoliuMed´s proprietary genetics, produced under Good Manufacturing Practice (GMP) and commercialized with the customers´ brands. Oral solutions remain the main form in which medical cannabis is being prescribed in South America, a market which consultancy Prohibition Partners expect to grow to 750 M USD with Brazil and Colombia accounting for about half of the expected patient numbers.
“As the deregulation of Latin America accelerates, we decided to offer turnkey, white label solutions,” says FoliuMed founder and CEO Oliver Zugel. “By growing in Colombia and manufacturing in Germany, we combine German pharma quality with proven therapeutic benefits at an affordable price … which is essential when dealing with skeptical doctors and patients who simply can´t afford to pay 100 USD for a monthly dose.”
FoliuMed´s product portfolio currently includes 15 products including oral solutions, soft gels and topicals. “By 2022, we will be able to also add medical cannabis flower to the portfolio which until now was not permitted to be exported from Colombia,” says FoliuMed´s co-founder and Latam CEO Diego Navarro.
(This information is primarily sourced from FoliuMed. Highly Capitalized has neither approved nor disapproved the contents of this news release. Read our Disclaimer here).