Heritage Cannabis, a Canadian producer, has received approval from the Brazil Health Authority (ANVISA) to import a medical CBD product into Brazil. According to a news release on Monday, the company did not specify the quantity or value of the forthcoming shipments to Brazil. Heritage also said that two additional products are awaiting final approval from ANVISA.
Benefits of Entering the Brazilian Market
“This is a very important step for Heritage as we continue to expand the reach of our high-quality products beyond the borders of Canada,” said CEO David Schwede in a statement. “Brazil has a very healthy market outlook due to its large population, and we are poised and in position to leverage our early entry in the market and take advantage of the many opportunities in the CBD product space.”
Two Licensed Manufacturing Facilities
Heritage, based in Toronto, operates two licensed manufacturing facilities in Canada. Shares of Heritage trade on the Canadian Securities Exchange as CANN.
Conclusion
With the approval of ANVISA, Heritage Cannabis can now import its CBD product into the Brazilian market. This move is significant for Heritage Cannabis, as it enables the company to expand its market beyond Canada. The Brazilian market outlook is positive due to its large population, providing Heritage with many opportunities in the CBD product space. Heritage has two licensed manufacturing facilities in Canada, and it awaits final approval from ANVISA for two additional products.
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