FoliuMed claims to have shipped the largest ever shipment of medical cannabis from Colombia to Australia. According to FoliuMed, Australia is the second largest market for medical cannabis outside North America, after Germany, with over 100,000 patients.
“This is the first of two shipments that allow our client to meet approximately 5% of Australian demand at less than half the cost compared to local production,” said FoliuMed Founder and CEO, Olivier Zugel.
With Australian wages and energy prices among the highest in the world, producing affordable medical cannabis locally has proven to be a challenge. It has become a big deal for patients who pay more than 200 Australian dollars ($150) for a monthly dose, available only by prescription. Unlike Germany, where cannabis is covered by health insurance, Australian patients pay for their medication out of pocket.
“This limits access to medical cannabis to the wealthy or those willing to take the risk of buying cheaper on the black market,” Zugel added.
The Foliumed shipment consists of pharmaceutical cannabis ingredients produced at its Colombian cultivation site at the foot of the Andes.
“With ideal climatic conditions, our energy consumption is minimal and we grow the plants organically,” said the co-founder of FoliuMed and LATAM CEO Diego Felipe Navarro. “Our teams in Colombia and Germany have worked for over a year with our client, the health authorities and the Colombian government to ensure that we meet the strict quality standards imposed by the Australian medicines regulator. TGA.”
The TGA recently increased the quality requirements on imports of medical cannabis, making them comparable to how pharmaceuticals must be manufactured locally and in Europe.
“Since our German operations are EU-GMP Certifiedwe offer Australian importers a full range of affordable solutions that comply with the new regulations,” said Zugel.
Clever Leaves Partners with FoliuMed to Import EU-GMP Colombian Cannabis Bulk Extracts to Germany
FoliuMed enters into white label cannabis deals in South America