On February 23rd, the government of Peru published the regulations that will govern both the application and production of medical cannabis inside the country. These regulations are among the most developed in any market globally, and enable Peru to position itself as a leading cultivator and supplier for the world market, while simultaneously providing effective, low cost treatment to Peruvians dealing with a broad variety of conditions.
The people of Peru have been among the most pro-active regarding the medical benefits of cannabis for the treatment of serious medical conditions such as epilepsy, psoriasis, seizures, nerve pain, arthritic pain, anxiety, sleep disorders, and more. Following public demonstrations in favor of the benefits of the drug, the country passed the law to legalize cannabis for medical purposes back in 2017.
The publication of the regulatory decree approval establishes the legal framework for the production and management of medicinal cannabis. The framework also makes it possible for Peru to enjoy an early-mover position in the global medical cannabis trade while benefiting the local economy via large-scale job creation and infrastructure investment from the development of the carefully-regulated industry.
In the lead-up to this historic announcement, Peruvian officials have been working with scientists, doctors, and the Canadian medical marijuana company Plena Global Holdings to ensure the country can benefit from an effective transition to a regulated industry that operates at the highest standards of medical cannabis regulation worldwide. The extended period of time between signing of the law legalizing medical cannabis, and the adoption of the regulatory framework overnight, was effectively used by the government of Peru to ensure a thorough framework for industry operations was established. Plena has also used the time to work collaboratively with leading Peruvian agri-industrial firms to enable a rapid entry into the production of medical cannabis.
“We want Peru to position itself as a leading country in the medicinal Cannabis industry,” says Rafael Canovas Newell, Plena Global’s Director of Government Affairs & Partnerships in South America. “For that to happen in our country, all steps from seed to sale must be deployed with the highest standards, the best technology, proper personnel and of course with all compliance matters in place.”
Plena Global’s Peruvian operations will start growing cannabis in the country this year, and will have the medical experts and processing facilities in place to start distributing medical cannabis products to hospitals and clinics as quickly as the Peruvian licensing and regulatory process will allow.
“After 18 months of collaborative work between industry and government leaders across Peru, we are excited to see the regulations published for public consultation. This is the final phase before licenses are issued and the industry begins supplying the Peruvian people with affordable medication that effectively addresses any medical conditions they need treatment for,” stated Richard Zwicky, Plena’s CEO. “Plena began as an effort to assist mothers in Peru in gaining access to effective treatment for their children suffering from epilepsy, and in the span of 18 months we have grown to be the operator of the single largest licensed property dedicated to producing medical cannabis, in the world. We are excited to begin production in Peru, both for the local market, and for export. Allowing us to deliver low-cost, high quality medication to people in need globally.”
Date: February 25, 2019