Business
Medical Marijuana, Inc. Subsidiary HempMeds® Brasil Celebrates Exponential Growth; Receives Validation From Medical Community
Medical Marijuana, Inc. Subsidiary HempMeds® Brasil Celebrates Exponential Growth; Receives Validation From Medical Community.
About this update from Medical Marijuana, Inc.
[{"type":"text","content":"\n SAN DIEGO, CA, April 21, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- Medical Marijuana, Inc. (OTC: MJNA) (the “Company”), the first-ever publicly traded cannabis company in the United States that launched the world’s first-ever cannabis-derived nutraceutical products, brands, and supply chain, announced today growth milestones in its HempMeds® Brasil business segment, where the subsidiary is growing at a rate 75.8% faster than that of the country’s entire market, which continues to double in size annually. Additionally, HempMeds® Brasil was featured in one of the most respected medical magazines in the region, Medicina S/A, for its participation in a course being offered through the University of São Paulo on Cannabinoid Medicine, furthering its position as a category leader in Latin America’s economy.  The growth rate of the Brazilian cannabidiol (CBD) market has more than doubled annually since 2018, as confirmed by regulatory body ANVISA, the Brazilian equivalent comparable to the U.S. Food and Drug Administration (FDA). In the first quarter of 2022, HempMeds® Brasil grew at a rate 75.8% faster than the overall Brazilian CBD market. The Company foresees this trend to continue as HempMeds® Brasil is well-positioned to capture market share and other industry players exit the market, resulting in an exciting growth market opportunity for HempMeds® Brasil. This opportunity is furthered by the subsidiary’s category leadership position, which it has been building since its entrance into the market in 2015. As an illustration of this position, HempMeds® Brasil’s Medicina S/A feature includes this snippet, which has been translated from Portuguese: “The pioneering North American company in this market, HempMeds®, is an exclusive supporter of this course,” said the Executive Director of HempMeds® Brasil Matheus Patelli. Patelli added: “Since 2015, we have trained more than 1500 health professionals with our technical-scientific programs and we have more than 50 hours of classes available for free on our platform. It is part of our mission to disseminate more and more knowledge on this topic and it is a privilege to be able to support this topic in partnership with the main university in Latin America.” The course fea...