Tetra Bio-Pharma shared their support for the Canadian government’s proposal for the regulation of cannabis once it becomes legal for next year.
Tetra Bio-Pharma (TSXV:TBP; OTCQB:TBPMF) shared their support for the Canadian government’s proposal for the regulation of cannabis once it becomes legal for next year.
As quoted in the press release:
In the Proposed Approach to the Regulation of Cannabis, Health Canada stated that “[the] Cannabis Act…will maintain a scientific, evidence-based approach for health products with cannabis that are approved with health claims. These products will be subject to the requirements of the FDA and applicable regulations, including requirements for safety, efficacy and quality“. The evidence-based approach applied by Health Canada is consistent with that of Tetra’s business model, and given that the primary goal of regulatory agencies is to protect the health and welfare of consumers, there were no surprises within the recently proposed act. The proposed approach to regulation recommends that cannabis-based health products are still subject to scientific review and must show significant efficacy, meet strict safety requirements and be of sufficient quality in order to gain market approval as a drug or as a natural health product.