Isodiol International initiated a drug approval process with the Health Regulatory Agency in Brazil for the approval of their pharmaceutical grade cannabidiol products.
Isodiol International (CSE:ISOL; OTC:LAGBF) initiated a drug approval process with the Health Regulatory Agency in Brazil for the approval of their pharmaceutical grade cannabidiol products in order to be placed in the Special Category List.
As quoted in the press release:
As a part of the ANVISA approval process, the Company is also proud to announce physicians are currently prescribing the Isoderm product. “We are extremely excited to have officially entered the South American market for our pharmaceutical grade products,” said Marcos Agramont, Chief Executive Officer of Isodiol Inc.
“We anticipate receiving full approval within the next quarter, which allows us time to develop and implement our commercialization strategy for the Brazilian market. We will continue to develop products and sale channels in North America for our Nutraceutical products however, as the global CBD market evolves, we want to ensure Isodiol is at the forefront of this movement. As leaders in the domestic space, we will ensure Isodiol has a significant presence in the implementation of global standards with health authorities and government officials in turning this CBD movement into a legitimate industry,” said Marcos.
The company has also signed a non-binding letter of intent for an exclusive partnership agreement with an established Brazilian based pharmaceutical importer and distributor, who will provide the following services,
- Obtain formal ANVISA approval for the products in Brazil,
- Work exclusively with Isodiol for the importation, promotion, development and sale of products,
- Sponsor events for physicians, distributors and pharmaceutical companies to spread awareness, educate and promote products.