Khiron Life Sciences Enters Mexican Cannabis Market With The Launch of Its First Nutraceutical Product Line
TORONTO: Khiron Life Sciences Corp. (Khiron or the Company) (TSXV: KHRN), (OTCQB: KHRNF), (Frankfurt: A2JMZC), an integrated medical cannabis company with its core operations in Colombia, announced today that its wholly-owned subsidiary, Kuida Life Mexico S.A., has received approval from Mexico's Federal Commission for the Protection against Sanitary Risk (COFEPRIS) to import and commercialize three products of the Company's Nutraceutical Line.
The three initial products approved by COFEPRIS include; a CBD (cannabidiol) based formulation designed to help promote sleep; a CBD based food supplement designed as a digestive aide; and a CBD based supplement that is formulated to help promote the body's recovery following periods of exertion and stress. These products are developed under Khiron's wellness business unit, which is focused on offering the full benefits of cannabis for consumers across Latin America.
With these approvals, Khiron is positioned to market these products across Mexico, a country of over 120 million people, and with the largest per capita consumption of dietary supplements in Latin America, according to Euromonitor International. At the end of 2016 the market value of this sector in Mexico alone was US $552.1 Million and growing at an annual rate of 13.4% since 2011 (Euromonitor).
Alvaro Torres, Co-founder and CEO for Khiron stated, Mexico is a priority market for Khiron, and through a previously announced distribution deal with Farmalisto, the region's leading digital drugstore, we are positioned to leverage their e-commerce capabilities to bring our products to customers across the region.
Jose Joaquin Mora, Farmalisto CEO and Co-Founder stated, The strategic alliance between Khiron and Farmalisto allows us to deliver Khiron's high quality nutraceutical products to the fast growing Mexican market through our state of the art technology, innovative e-commerce platform and extensive customer network.