COMMENCES APPROVAL PROCESS FOR ITS PHARMACEUTICAL PRODUCTS THROUGH THE BRAZILIAN HEALTH REGULATORY AGENCY (ANVISA)
Isodiol International Inc. (ISOL.C) has initiated the drug approval process through the Brazilian Health Regulatory Agency (ANVISA) for the approval of its pharmaceutical grade cannabidiol (CBD) products for placement in the special category list for approved imported CBD products.
As a part of the ANVISA approval process, the Company is also proud to announce physicians are currently prescribing the Isoderm product. "We are extremely excited to have officially entered the South American market for our pharmaceutical grade products," said Marcos Agramont, Chief Executive Officer of Isodiol Inc.
"We anticipate receiving full approval within the next quarter, which allows us time to develop and implement our commercialization strategy for the Brazilian market. We will continue to develop products and sale channels in North America for our Nutraceutical products however, as the global CBD market evolves, we want to ensure Isodiol is at the forefront of this movement. As leaders in the domestic space, we will ensure Isodiol has a significant presence in the implementation of global standards with health authorities and government officials in turning this CBD movement into a legitimate industry," said Marcos.
The company has also signed a non-binding letter of intent for an exclusive partnership agreement with an established Brazilian based pharmaceutical importer and distributor, who will provide the following services,
Obtain formal ANVISA approval for the products in Brazil,
Work exclusively with Isodiol for the importation, promotion, development and sale of products,
Sponsor events for physicians, distributors and pharmaceutical companies to spread awareness, educate and promote products.
Additional information will be provided around the financial terms of the partnership agreement in the coming weeks.
About Isodiol International Inc.
Isodiol International, Inc. is the market leader in pharmaceutical grade cannabis compounds and the industry leader in manufacturing and development of consumer products. Isodiol's nutraceutical division is the pioneer of many firsts for Hemp-derived cannabidiol (CBD), including 99% pure crystalline isolate, micro-encapsulation, and nano technology for the highest quality consumable and topical skin care products.
Isodiol's growth strategy includes the development of over-the-counter and pharmaceutical drugs, seeking joint ventures and acquisitions to expand its portfolio of brands and subsidiaries and will aggressively continue International expansion into Latin America, Asia and Europe.