Luckily for Australia that Brazil is a bit of a basketcase at the moment.
It will be interesting to see how long exports head to Brazil before they start producing their own supplies.
The West Australian reports
ASX-listed medicinal marijuana group, MGC Pharmaceuticals, has successfully shipped its first tetrahydrocannabinol, or “THC” line of Mercury Pharma medicinal products to Brazil through its supply and distribution agreement with Sao Paulo-based ONIX Empreendimentos e Participações.
Brazil offers a significant growth market for MGC Pharma, with about 10,000 patients suffering various medical conditions who are currently registered with the Brazilian authority, ANVISA, to receive cannabinoid products directly.
MGC Pharma struck an initial seven-year supply deal with ONIX earlier this year. The deal involves an agreed minimum order volume of 20,000 units in the first year with an estimated value of at least €1 million
The minimum order volume from year two onwards is 50,000 units per annum with an estimated value of at least €2.5 million a year.
According to Perth-based MGC Pharma, it has become the first company globally to ship high-THC formulations directly to a patient’s door in Brazil, without the need to visit a pharmacy, once they have a prescription written by an ONIX referring doctor.