Clever Leaves Holdings Inc. (NASDAQ: CLVR, CLVRW) (“Clever Leaves” or the “Company”), a leading multinational operator and licensed producer of pharmaceutical-grade cannabinoids, announced the commercial commencement of a partnership with Pharmalab PHL Laboratories S.A.S (“Pharmalab”) in Colombia. Pharmalab is a Colombian healthcare group specializing in the commercialization and distribution of medicines, dietary supplements and cosmetics. Pursuant to the partnership, Clever Leaves will supply pharmaceutical-grade cannabinoid formulations to Pharmalab for the distribution of magistral medications in Colombia, which are used to treat painful and inflammatory pathologies. The partnership was made possible by President Iván Duque Márquez’s recent signing of a new Decree allowing drugstores to distribute and sell magistral medicinal cannabinoids in Colombia, marking a major step towards fulfilling the unmet needs of Colombian patients.
Multiple international certifications, including a Good Manufacturing Practices (GMP) Certification by INVIMA, Good Agricultural and Collecting Practices (GACP) Certification and European Union Good Manufacturing Practices (EU GMP) Certification, position Clever Leaves as a differentiated supplier of high-quality magistral formulations.
“With a considerable proportion of our cannabis cultivation and extraction efforts occurring within Colombian borders, this partnership represents a historic opportunity to provide Colombian doctors and patients with products that meet pharmaceutical quality standards. We are providing cannabinoid products grown by Colombians, for Colombians,” said Clever Leaves President, Andres Fajardo. “Our shared passion for the fostering of a happier, healthier local community makes Pharmalab the perfect partner to fulfill the unmet needs of Colombian patients.”
“Having already found success in the therapeutic areas of rheumatology and pain management, Pharmalab sees cannabinoid-based therapies as an innovative and effective complement to their efforts to address the negative symptoms of numerous conditions. Our team is ready to start commercial activities in the upcoming days,” said the Director of Pharmalab, Mauricio Sierra.
“Colombia has proven to be a trailblazer in the Latin American market, with uniquely robust legal pathways that allow for safe, regulated patient access to cannabinoid-based medications. Clever Leaves, as a large-scale supplier, with the collaboration of Pharmalab, will together contribute significantly to the commercialization of medicinal cannabis products within Colombia,” concludes Andrés Fajardo.