Business
PharmaCielo to Supply Ease Labs with Commercial Shipments of API to Fulfill Contract with State Government of Sao Paulo, Brazil
The contract to supply the State of São Paulo is the largest public sector contract awarded ...
About this update from Pharmacielo Ltd.
[{"type":"text","content":"PharmaCielo to Supply Ease Labs with Commercial Shipments of API to Fulfill Contract with State Government of Sao Paulo, BrazilThe contract to supply the State of São Paulo is the largest public sector contract awarded to date in Brazil - the State of São Paulo is the largest state in the country. Ease Labs to supply up to 1.871 tons of pharma-grade CBD to the government over a 12-month period. Ease Labs' product is based on PharmaCielo's proprietary API.Toronto, Ontario and Rionegro, Colombia--(Newsfile Corp. - March 26, 2024) - PharmaCielo Ltd. (TSXV: PCLO) (OTCQX: PCLOF) (\"PharmaCielo\" or the \"Company\"), the Canadian parent of Colombia's premier cultivator and producer of dried flower and medicinal-grade cannabis extracts, PharmaCielo Colombia Holdings S.A.S. (\"Holdings\"), and Ease Labs Pharma (\"Ease Labs\") a leading GMP-certified pharmaceutical company in Brazil specialized in developing, manufacturing, and distributing pharma-grade cannabis-based products, are pleased to announce that the pharmaceutical product \"Cannabidiol Ease Labs 100mg/ml\" (the \"Product\") owned and manufactured by Ease Labs in Brazil, has been selected by the State Government of São Paulo to be distributed as part of its new Public-Health Distribution Program (the \"Program\"). The Product is based on PharmaCielo's active pharmaceutical ingredient (\"API\").The Program was created by Law # 17,618 in January 2023, with the purpose of providing the population with free access to cannabidiol products through public owned health institutions throughout the State of São Paulo, the largest state in Brazil. Initially, patients with Dravet Syndrome, Tuberous Sclerosis and Lennox Gastaut Syndrome will be eligible for access to the Product and to receive free treatment. Management CommentaryMarc Lustig, Chairman and CEO of PharmaCielo, commented, \"This is a milestone event for PharmaCielo, highlighting the returns available as large international markets continue to open to cannabinoid-based drugs and therapeutics. Our team has diligently worked to ensure that our pharma-grade APIs are included early in drug development pipelines. While many of these products are still early stage, once they are approved and in-market, PharmaCielo stands to reap significant benefit with APIs that are integral to the approval and viability of these...