Colombian cannabis patients can look forward to significantly reduced costs, as the government mandates that medical insurers must provide coverage for all pharmaceutical forms of the plant. For the country’s estimated 6 million potential cannabis patients, the change is also expected to simplify the process and reduce approval times.
Last week, the the Ministry of Health and Public Safety published its 2022 updates for new medicines and medical procedures that need to be included in all health plans. The update added 654 new medical procedures and 564 medicines to the list, which included all concentrations and pharmaceutical forms of THC and CBD. The changes became effective Jan. 1.
In a statement Tuesday, Toronto-headquartered cannabis company Khiron Life Sciences Corp. said including cannabis in the country’s mandatory health plan will create one of the largest insured markets for the medical cannabis industry worldwide.
The company says the regulatory changes will help Khiron position itself as a worldwide leader given its already established presence in the country. In March 2020, the firm became the first licensed producer in Colombia allowed to sell cannabis to patients, through its Zerenia medical cannabis clinics.
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