Khiron Life Sciences Applauds Government of Mexico on Announcing Guidelines for the Production and Import of Medical Cannabis Products

Published: November 6, 2018

Khiron Life Sciences Applauds Government of Mexico on Announcing Guidelines for the Production and Import of Medical Cannabis Products

Khiron Life Sciences Corp., an integrated medical cannabis company with its core operations in Colombia, applauds today’s announcement by the Government of Mexico establishing guidelines for the sanitary control of cannabis and its extracts. These guidelines, which were announced today by the Federal Commission for the Protection of Health Risks (COFEPRIS), establishes a framework for the Government of Mexico to form a licensed cannabis market for over 120 million residents of Mexico.

In today’s announcement made by Mr. Julio Sánchez y Tepóz, Federal Commissioner of COFEPRIS, the commission laid out the key components of the provision, medical and scientific research and types of cannabis products. This is the regulatory development that responds to the legislative change made by the Mexican Congress.

Former Mexican President and Khiron board member Mr. Vicente Fox stated, “With today’s announcement we are gradually seeing the move towards a much-needed framework for legalized cannabis in Mexico. This is something I have long advocated for; It’s good for business, for health and importantly for the social fabric of our country, which is why I applaud the announcement today from Commissioner Julio Sánchez y Tepóz.”

Khiron has previously announced its intent to enter the Mexican medical cannabis market, having conducted an in-depth regulatory review of the country’s medical cannabis legal landscape, a comprehensive market-needs assessment indicating a potential medical cannabis market of 9% of the country’s population, and the incorporation of a Mexican subsidiary to submit license applications, subject to Toronto Stock Exchange approval. Moreover, Khiron is working closely with Centro Fox, a think tank that concentrates its efforts on creating a new understanding about medical cannabis within the Mexican patient and medical community.

Alvaro Torres, Cofounder and CEO for Khiron stated, “Mexico represents an important market opportunity for Khiron. We see today’s announcement as significant in progressing towards a fully legalized cannabis market in the country. We have been studying the market for some time and are positioned to educate doctors on the benefits of medical cannabis and transfer our wealth of knowledge into this new market.”

Dr. Maria Fernanda Arboleda, Khiron Medical Director stated, “I’m thrilled to attend this press conference, which marks a historic day for Mexico. Through my experience as a Pain and Palliative Care Physician and Researcher, I can say that patients that suffer from specific diseases such as chronic pain, anxiety and depression, among others, have the potential to benefit from medical cannabis in the country”.

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