Flora Growth Receives CGMP Certification of Compound Formulation Lab; Launches Prescription Cannabis Medicines in Colombia
04 Aprile 2023 - 1:05PM
Business Wire
- Flora Growth (NASDAQ: FLGC) receives INVIMA Current Good
Manufacturing Practices (CGMP) certification for Flora Lab 4, a
compound prescription formulation lab, based in Bogotá,
Colombia
- The company will release eight prescription cannabis
formulations to address specific ailments
- Flora’s formulations will begin being prescribed by doctors in
Colombia and will be fully covered by all Colombian insurers
Flora Growth Corp. (NASDAQ: FLGC) (“Flora'' or the
“Company”), a leading cultivator, manufacturer and distributor of
global cannabis products and brands, announced today the
certification of its Bogotá-based compound formulation laboratory,
Flora Lab 4, following the required regulatory inspection by INVIMA
(Colombia’s FDA). The inspection certifies the lab as meeting
Current Good Manufacturing Practices standards as determined by
INVIMA. Flora Lab 4 specializes in manufacturing compound
formulations utilizing cannabis derivatives and traditional master
formulas.
Flora Lab 4 will now begin offering its cannabis formulations as
well as design, development and manufacturing services for third
parties. The lab will also make available to clients its
experienced team members, knowledge of cannabis and modern
facilities to promote the growth of the medical cannabis
sector.
To begin, the team has developed eight cannabis-based
formulations, in both topical and ingestible formats, specially
designed to aid in the treatment of specific ailments, including
various skin conditions, multiple sclerosis, anxiety and dementia.
The team hopes to gather patient-reported pilot-study data to
better understand patient responses and outcomes.
“We are very pleased to have received CGMP certification and to
bring effective medicinal cannabis treatments to patients in
Colombia. We applaud the Colombian government’s acknowledgment of
the power of this plant by requiring all health insurance providers
to cover the cost of medical cannabis. This policy is fundamental
to fair access to these medicines for Colombia's roughly 30 million
eligible patients,” said Luis Merchan, Chairman and CEO of Flora.
“At Flora, we know the future of cannabis relies heavily on the
transformation of this unique plant into mainstream medicines,
accessible to the populations who need it most. We are proud to be
playing a leading role in the progress toward that goal.”
With the approval from INVIMA, cannabis medicines can now be
accessed by doctor networks throughout Colombia and can immediately
be prescribed to patients over the age of 18. This offering comes
as a law that went into effect on January 1, 2023, requires all
insurance providers in the country to cover the cost of medical
cannabis treatments for patients.
Flora is committed to creating sustainable growth in its
Pharmaceutical division by utilizing high-quality raw materials
sourced from its cannabis cultivation and processing operations in
Colombia. These materials are then used for applied research
initiatives in medical cannabis, contributing to the development of
innovative and effective pharmaceutical products that can be used
around the world. By ensuring the quality of its raw materials,
Flora Lab 4 can confidently pursue its goal of advancing the
medical cannabis industry and improving the lives of patients in
need.
About Flora Growth Corp.
Flora Growth Corp. is a global cannabis company dedicated to
bringing the benefits of cannabis to people worldwide. Our
commitment is to create, master and connect the international
cannabis supply chain by setting the standard for world-class
cultivation and manufacturing, thoughtful brand development, and
rigorous research and development of medical-grade cannabis
products that meet the highest standards of quality, safety, and
efficacy. Our mission is to create a world where the benefits of
cannabis are accessible to everyone, and we are working toward that
goal by becoming a leading importer and exporter of cannabis to
meet demand in every corner of the market. Visit
www.floragrowth.com or follow @floragrowthcorp on social media for
more information.
Cautionary Statement Concerning Forward-Looking
Statements
This press release contains ‘‘forward-looking statements,’’ as
defined by federal securities laws. Forward-looking statements
reflect Flora’s current expectations and projections about future
events at the time, and thus involve uncertainty and risk. The
words “believe,” “expect,” “anticipate,” “will,” “could,” “would,”
“should,” “may,” “plan,” “estimate,” “intend,” “predict,”
“potential,” “continue,” and the negatives of these words and other
similar expressions generally identify forward looking statements.
Such forward-looking statements are subject to various risks and
uncertainties, including those described under the section entitled
“Risk Factors” in Flora’s Annual Report on Form 20-F filed with the
SEC on May 9, 2022, as such factors may be updated from time to
time in Flora’s periodic filings with the SEC, which are accessible
on the SEC’s website at www.sec.gov. Accordingly, there are or will
be important factors that could cause actual outcomes or results to
differ materially from those indicated in these statements. These
factors should not be construed as exhaustive and should be read in
conjunction with the other cautionary statements that are included
in this release and in Flora’s filings with the SEC. While
forward-looking statements reflect Flora’s good faith beliefs, they
are not guarantees of future performance. Flora disclaims any
obligation to publicly update or revise any forward-looking
statement to reflect changes in underlying assumptions or factors,
new information, data or methods, future events or other changes
after the date of this press release, except as required by
applicable law. You should not place undue reliance on any
forward-looking statements, which are based only on information
currently available to Flora (or to third parties making the
forward-looking statements).
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230404005580/en/
Investor Relations: ir@floragrowth.com
Public Relations: Cassandra Dowell +1 (858) 221-8001
flora@cmwmedia.com
Grafico Azioni Flora Growth (NASDAQ:FLGC)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni Flora Growth (NASDAQ:FLGC)
Storico
Da Giu 2023 a Giu 2024