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.
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.