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CBD Oil Approved in Paraguay: The World’s Third Cannabis Product to Be Registered as Medicine

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Paraguay approved two cannabis products as medicines, allowing cannabidiol (CBD oil) Real Scientific Hemp Oil-X™ (RSHO-X™) and RSHO™ Blue Label by Medical Marijuana Inc.

While Paraguay has long been known as a world leader in producing black market cannabis, it has been illegal to grow cannabis in Paraguay until just last week.

Paraguay’s congress passed a bill on Dec. 5 creating a state-sponsored system to import cannabis seeds and grow medical cannabis, a decision that followed Peru, Chile, Argentina and Colombia’s medical cannabis legalization. Uruguay has fully legalized growing and selling cannabis for any use, according to Reuters.

Asuncion, Paraguay

This marks only the third botanical cannabis product to be approved as a medicine in the world. Many European countries approved cannabinoid medicine Sativex, an oral spray for MS Spasticity and chronic cancer pain, in 2013.

Epidiloex, a cannabinoid medicine for epilepsy syndromes, has also been approved in Europe and is being considered for approval by the United States’ Food & Drug Administration. There is one other approved cannabis product called Marinol, which treats vomiting symptoms from cancer medications, but it is synthetic versus botanical.

Medical Marijuana, Inc. CBD oil products will be available through Paraguay’s medical distribution channels. The company is the first publicly traded cannabis company in the United States.

Real Scientific Hemp Oil-X™ is used to treat epilepsy symptoms and chronic pain. It is non-psychoactive with trace amounts of THC.

“This is yet another example of the international trend of acceptance of medical research on CBD for medical use,” said Medical Marijuana, Inc. CEO Dr. Stuart Titus.

“We are continually encouraged by the decisions of governments to permit use of our products for patients suffering from multiple medical indications, where conventional medicine has had modest effects.”

Medical Marijuana, Inc.’s CBD hemp oil products have been used by over 100 citizens in Paraguay with medical indications ranging from cancer, pain, multiple sclerosis, epilepsy and various other neurological diseases, according to a release. In 2016, Real Scientific Hemp Oil™ became the first medical cannabis product approved and imported for use in Paraguay as a supplement.

“We are a company of firsts, and we are excited about this new historic milestone of being the only company to have a CBD product registered in Paraguay,” said Titus.

Earlier this year, RSHO™ was also the first cannabis product approved for Brazil and Mexico. Medical Marijuana, Inc. reported a total gross profit of 297 percent compared to Q3 2016, after focusing on international expansion and cannabinoid research this year.

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How Medical Marijuana, Inc. Had A Record-Breaking 297 Percent Gross Profit Increase

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Medical Marijuana, Inc. reported a total gross profit of 297 percent compared to Q3 2016, after focusing on international expansion and cannabinoid research this year.

The cannabinoid company made international headlines in 2017 by bringing its HempMeds brand to Mexico and Brazil – and made history when the Mexican government bought HempMeds CBD oil for its citizens.

Now Medical Marijuana, Inc. (OTC: MJNA) is reporting major gross revenue and gross profit increases over last year.

“Gross revenue soared from $2,188,671 in Q3 2016 to $7,783,297 in Q3 2017, a quarter over quarter increase of 255%. Total gross profit rose from $1,266,488 in Q3 2016 to $5,034,464 in Q3 2017, an increase of 297%,” according to a release.

With its quick movements in the CBD oil and biotechnology industries, the company is posed to react to 2018’s industry trends. The CBD oil market will be at $1 billion by 2020 according to a Brightfield Group report. The biotechnology market size will exceed  $775.2 billion by 2024, according to a Global Market Insights, Inc report.

Medical Marijuana, Inc.’s assets include HempMeds® and Kannaway®, international divisions in Mexico and Brazil, and investments in biotechnology companies like AXIM Biotechnology and Kannalife Sciences.

Medical Marijuana, Inc. CEO Dr. Stuart Titus said, “We believe that with these record-breaking revenue numbers, we have the capacity to make 2018 the most profitable year the company has ever seen. We are currently spending on international expansion and research efforts, which should pay long-term dividends for shareholders.”

The international expansion efforts began soon after medical cannabis was legalized in Mexico in June, and U.S.-based HempMeds jumped on the news by opening its first office in Monterrey, Mexico in July. The Monterrey, Mexico office serves as the hub for distribution of HempMeds’ THC-free CBD oil product Real Scientific Hemp Oil-X.

THE STATE OF MEXICO JUST ANNOUNCED IT WILL PROVIDE MEDICAL CANNABIS TO CITIZENS

Mexico legalized the cultivation, production, and use of cannabis products with less than one percent THC for medical use when President Pena Nieto signed a bill into law on June 19.

Next, for the first time ever, the government in Mexico purchased CBD oil products from HempMeds Mexico for its citizens. Having governments subsidize the healthcare costs generated by CBD oil is a historic step towards normalization of cannabinoids as a treatment option,” according to a release.

In November, the United Nations invited HempMeds Mexico president Raúl Elizalde to speak about CBD hemp oil.

Elizalde is a medical cannabis pioneer who advocated tirelessly for Mexican patients, culminating in the moment when he joined Mexico President Peña Nieto on stage in April 2016, as the leader announced Mexico’s medical cannabis reform. Elizalde started the Por Grace Foundation to continue his advocacy work, and was appointed president of HempMeds Mexico this year.

In Medical Marijuana, Inc’s research endeavors, there was progress for cannabinoid medicine at AXIM Biotechnology and Kannalife Sciences.

AXIM Biotechnologies, Inc. announced phase II clinical trials on cannabidiol (CBD)-based chewing gum to treat Restless Legs Syndrome. The company also filed a patent for a chewing gum to treat opioid addiction.

Kannalife Sciences, another Medical Marijuana, Inc. biotechnology investment, continued its work to develop cannabis-based drugs for the treatment and prevention of chronic traumatic encephalopathy (CTE).

“Company spokesperson and former NFL player Nick Lowery was part of a media blitz to promote cannabis as a solution to the NFL’s CTE epidemic,” according to a release.

recent clinical study found promising results in CBD oil used as a treatment for patients suffering from seizures—primarily people with Tuberous Sclerosis Complex. Results from the trial showed that 60 percent of participants who used CBD products saw a clinically significant (80-100 percent) reduction in the frequency of their seizures. The trial utilized THC-free CBD oil product RSHO-X™ by Medical Marijuana, Inc.