Opinion – Cannabis Inc.: imported CBD is cheaper and competes with domestic product

The medicinal cannabis market in Brazil is very recent. In 2020, the first CBD extract (Cannabidiol, a substance derived from Cannabis, without psychoactive effects), produced by the Prati-Donaduzzi laboratory from Paraná, received authorization from Anvisa (Health Surveillance Agency) to be sold in the country. Currently, at least 23 products have already obtained the same license. The increase in competition and the application of droplets of therapeutic oil from the plant has been improving the lives of patients, who have gained more consumption options.

The increase in the range of products sold in the country is already starting to have a positive impact even on imported products, manufactured by laboratories that are gradually changing their marketing strategy to capture the Brazilian market. An example of this is HempMeds, a subsidiary of the Medical Marijuana Inc Group, which launched a full spectrum CBD oil with 6,000 mg. The cost of a milligram is R$ 0.10. In the national market, only Prati-Donaduzzi produces oil with this concentration and it costs three times as much (R$ 0.36).

“The 6,000 mg extract is indicated for the treatment of refractory epilepsy, which needs a much larger amount of drops than recommended for insomnia, for example”, says psychopharmacologist Fabricio Pamplona. “To give you an idea, lower concentrations lead the patient with epilepsy to take the oil with a spoon and not just a few drops.”

HempMeds has been working with an aggressive price reduction strategy, so much so that the new product came out with the same price as the brand’s 5,000 mg. “This measure is a significant reduction in the monthly cost for the patient and reinforces our commitment to increase the cessation of treatment”, says Matheus Patelli, general director of the laboratory in Brazil. The company also launched the 3,000 mg version, which is a little more expensive, R$ 0.13 per milligram. HempMeds says the company’s entire catalog saw a 52% reduction in 2021, and no readjustments last year.

“The news is good because despite having many products approved by Anvisa, few reached the retail market”, says Francisney Nascimento, professor of Medicine and Bioscience at Unila (Federal University of Latin American Integration, in Foz do Iguaçu). that entered the market are startups without financial strength for distribution in pharmacy chains throughout Brazil. But they began to be incorporated by large companies, which will accelerate access to patients.”