Medicinal Cannabis

Medicinal Cannabis, Business That Opens In Colombia

With the regulations issued by the Government for the management of seeds and cultivation of marijuana, as well as for the production of derivatives of this plant for medical and scientific purposes, companies interested in exploiting this business, such as PharmaCielo, now await the resolution that Authorizes to establish the crops. PharmaCielo is a Canadian company that was established three years ago in Rionegro. There he has invested 20 million dollars and planned to allocate another 24 million for a total of 44 million dollars (about 125,615 million pesos at today’s exchange rate), to take advantage of the potential of this herb.Federico Cock, director PharmaCielo Colombia Holdings

“This is a growing market, we could plant 500 hectares or a thousand, but we are adapting the factory to process cannabis that will produce a thousand hectares of the crop. At the moment we have a farm of 13 hectares of flowers, which will be converted and will produce cannabis, once we obtain the license, “added the businessman.

The bet is that once the authorizations are obtained, cannabis derivatives can be sown, harvested, processed and exported in a year or a year and a half. The portfolio would include extracts of medicinal grade oils, creams, drops or patches, which would initially supply the markets of Canada and Colombia. Although it did not set a deadline to dispose of the thousand hectares planted, it revealed that PharmaCielo signed an association contract
with indigenous communities affiliated to the Cooperativa for Unidad Nortecaucana (Caucanabis), in Cauca, south of the country. The idea is that they dismantle the crops they currently have, as they are not under any control or regulation, and start new plants in municipalities such as Corinto, Toribío, Miranda, Caloto, and Jambaló.”We are doing the study according to the market and the potential of those areas, to define the magnitude of the project in that area,” he said.

Missing Settings

Henry Muñoz, spokesperson for Cannabis Colombian Lawyers, highlighted the issuance of Decree 613 on April 10, although he warned that the regulation does not differentiate between medium and small producers,although it establishes security protocols and the allocation of production quotas. Thus, it will be up to the Ministries of Justice, Health and Agriculture to develop such definition criteria.

Additionally, he considered that the patients were left unprotected. “The Decree says that only masterful preparations can be provided, but to do so, licenses are necessary and nobody has them. So there’s another gap left. “

Another observation of Cannabis Colombian Lawyers has to do with the Information Mechanism for the Control of Cannabis (MICC) that, according to the norm, is an instance of verification that will confirm the ministries of Justice and Health.

“In that body no one represents the scientific community or the patients, to point out what is happening,” Muñoz said.