RE:RE:RE:RE:The Brazil contract is actually around $150 million for LABS Here is what we know so far with regards to Brazil and Medipharm -
In 2020 Medipharm partnered up with XLR8 and one could assume that represents any current reported revenue from Brazil.
“As early participants in the Brazilian medical cannabis industry dating back to its involvement in the pioneering import of medical cannabis oil for patient use from Canada to Brazil in 2017, XLR8 is pleased to have entered into this supply agreement with one of the only PIC/S GMP certified manufacturers of medical cannabis derivatives,” says Mike Dacks of Type 2 Ventures who acts as a strategic advisor to XLR8. “We look forward to bringing these products to market and to working with ANVISA as well as our ecosystem of local partners to bring the required clinical validation for final Product Registrations under the new Brazilian legislative framework.”
"In July 2023, the Company entered into an additional supply agreement with a top tier generic pharmaceutical company in Brazil. Under the agreement, the customer will apply to the Brazilian Health Regulatory Agency for a number of cannabis product approvals. MediPharm has received similar approvals in Brazil with other pharma customers. It is anticipated the delivery of additional products could begin in Q1 2024, and substantially increase the current Brazilian revenue."
About Brazil’s Market
Using a range of pricing, consumption and patient datasets, the LATAM Cannabis Report™ by Prohibition Partners(1) forecasts that the LATAM market is expected to exceed US$12 billion by 2028, offering “serious growth potential to global cannabis companies.” Today, Brazil is the region’s largest addressable market with a population of nearly 210 million, and according to Prohibition Partners, Brazil could potentially have one of the world’s highest potential patient counts.