- Medical cannabis reform in Brazil is slowly taking shape
- Challenges include the cost of medical cannabis products and medical cannabis patients living close to available access
- With its background in connected devices, big data, and technology, RYAH appears well qualified to provide insight on medical cannabis around the world
While the cannabis world’s attention is often focused on what’s happening in North America, activity in Latin America may be making significant progress. For example, a recent blog post (https://ibn.fm/t36SM) from RYAH Group (CSE: RYAH) states that “Brazil, one of the region’s largest markets, is quietly, if incrementally, making advances toward a powerful medical cannabis program.”
The blog, titled “Past, Present, and Future: Medical Cannabis in Brazil,” notes that “medical cannabis in Brazil may face some steep political hurdles, but the waves of reform are slowly making it possible for more patients to access more medicine.” The largest South American country both in size and population, Brazil boasts a GDP per capita of $15,388.
“At the time of writing, there are several different estimates about the number of people currently authorized as medical cannabis patients,” the article continued. “For example, there may be 14,500 or more patients served by the country’s only legal patient association and 20,000 more citizens approved to import products into the country.” Observing that it’s unclear if there is any overlap in those numbers, the article explains three ways medical cannabis patients can obtain cannabis in the country: through a pharmacy, patient association, and imports.
“For most patients in Brazil, medical cannabis products are far too expensive, and few people live close enough to the only patient association, ABRACE, to access more affordable options,” the blog explains. “Furthermore, unlike the medicinal options available in other countries, the Brazilian program primarily focuses on high-CBD, low-THC options.”
While the country has faced challenges, RYAH notes that Brazil seems poised at the top of a crest. “Slow legislative reforms have been building for years, gradually offering patients more options for medical cannabis,” the article states. “But the country isn’t quite there yet. A few additional pieces need to fall into place to finally open the flood gates, including legalizing the local cultivation of medical cannabis and hemp. With the current political climate in the country pushing against the tide, it remains uncertain when this legislation will finally come to pass.”
With its background in connected devices, big data, and technology, RYAH appears well qualified to provide insight on medical cannabis around the world. The company was granted the first patent granted in AI data analytics in plant-based medicine and owns one of the largest plant-based medicine databases in the world with more than 200,000 registered users. In addition, the company’s multiple IoT device portfolio is designed to capture a broader patient demographic and the clinical trial market.
For more information, visit the company’s website at www.RYAHGroup.com.
NOTE TO INVESTORS: The latest news and updates relating to RYAH are available in the company’s newsroom at https://ibn.fm/RYAH
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