In a significant healthcare development, Panama, a nation globally recognized for its iconic Panama Canal, biodiversity, and diverse cultures, has introduced a licensing process for the manufacture of medicinal cannabis derivatives.
Panama’s Entry into the Medicinal Cannabis Arena
The Panamanian Ministry of Health (Minsa) announced this pioneering move in June 2023, affirming its readiness to welcome companies with the solvency and expertise in medicinal cannabis production. Elvia Lau, director of Minsa’s Department of Pharmacy and Drugs, revealed that seven licenses are up for grabs, providing an opportunity for eligible companies to be part of Panama’s medicinal cannabis venture.
The Licensing Procedure: A Closer Look
The journey towards obtaining a medicinal cannabis license in Panama comprises of several stages. Prospective licensees should initially educate themselves with the conditions specified by Minsa. Following this, they have until September 5th, 2023, to raise any queries or seek clarifications. The enclosed documents remain sealed until the law-stipulated period of 75 days ends on September 18th, 2023.
Subsequently, the Medicinal Cannabis Committee reviews the applications, selecting seven entities demonstrating outstanding financial solvency and expertise. These successful companies will receive the green light to establish a comprehensive production chain – from planting to dispensing.
The Promise of Medical Cannabis in Panama: Exploring the Potential
Panama is no stranger to the concept of medicinal cannabis. The country’s president, Laurentino Cortizo Cohen, sanctioned Law 242 in August 2022 to regulate the use and access of medical cannabis and its derivatives. The law’s central focus lies in therapeutic, medical, veterinary, scientific, and research domains.
While Panama is opening its doors to this new medical venture, it remains stringent on controlling the commercialization of the products. A meticulous traceability program will monitor the product’s journey, from cultivation to the final points of sale.
Medical cannabis, as per the regulations, can be used for a variety of ailments, including Alzheimer’s, cancer, autism, HIV, and arthritis. With the legalization of medicinal cannabis production, Panama is steering towards a promising future in healthcare and opening up new economic avenues for the nation.
