Khiron Life Sciences (TSXV: KHRN) announced after market close yesterday that it had entered into an exclusive agreement with that of Medlive, a Brazil-based pharmaceutical and health products distributor with a network of over 3,000 hospitals and clinics in Souther Brazil.
The exclusive agreement will see Medlive distribute Khiron’s medical cannabis products throughout its network of doctors office, clinics, government institutions, pharmacies and hospitals. To further increase sales of Khiron’s products, the two companies will also embark on a medical education and training initiative with practitioners in Medlive’s network to increase the awareness of Khiron’s products while also pushing the health benefits that they offer. This initiative is to begin in the third quarter of 2020.
Khiron initially received authorization from the Brazilian Health Regulatory Agency to export medical cannabis products to the country on February 7, 2020, which will be conducted on an individual patient-use basis. This authorization is significant, as Brazil represents the largest market in Latin America with a population in excess of 212 million. The medical cannabis market within the country is anticipated to grow to 3.4 million patients, with over 1,100 physicians now prescribing it to patients.
Khiron Life Sciences last traded at $0.61 on the TSX Venture.
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