Here’s the press release in full…
Prime Minister, the Most Hon. Andrew Holness, says the Government will be exercising caution in how cannabis is leveraged in the development of Jamaica’s nutraceutical industry.
He said the Administration has to ensure that Jamaica does not breach international rules and standards and that activities are being carried out lawfully.
“These are not just standards to do with medicine or compliance to do with health. It is also financial and banking standards to ensure that our market is not being used for illegal activities (by persons) parading under a licence,” he pointed out.
“The Government of Jamaica has to ensure that we are compliant with international standards, because cannabis and the (medication) that could potentially come from it are still not recognised in many countries, and some countries still consider it illegal,” he noted further.
The Prime Minister was speaking at a ceremony to announce the United States Food and Drug Administration’s (FDA) award of Orphan Drug Status for ‘Chrysoeriol’ which has been developed by Flavocure Biotech LLC (FBL) to treat Acute Myeloid Leukemia (AML).
The ceremony was held at Eden Gardens Wellness and Spa in St. Andrew on Wednesday, July 12.
While emphasising the need to be “absolutely careful and certain” about how the matter is treated, Mr. Holness said treading on the side of caution “will inure to the benefit of the country in the long term”.
The Dangerous Drugs (Amendment) Act 2015, also referred to as the Ganja Reform Law, created the framework for the decriminalisation of offences under the Act, making possession of less than two ounces of ganja a ticketable offence.
The legislation also created the framework for the development of legal medical marijuana, hemp and nutraceutical industries, and for the establishment of the Cannabis Licensing Authority (CLA) to oversee the implementation of regulations for licences, permits and other authorisations for the cultivation, processing, distribution, sale and transportation of ganja.
Flavocure Biotech LLC, based in Maryland in the United States, is owned and operated by the Eden Gardens Group of Companies, which is headed by noted Jamaican scientist, Dr. Henry Lowe.