Panama Medical Cannabis Companies Are Waiting to Hear from Minsa

The process of granting licenses for medicinal cannabis in Panama began on June 5, 2023, with the announcement of a call to interested companies by Minsa.  20 companies participated.  These are the seven companies that qualified for the medical cannabis license using a 60 point score card.  Panamericana Cannabis Consortium (60 points) , Green Med Consortium (60 points), Tilray Panama Consortium (55 points), Farma Verde Corp. (50 points), Canna Med Panama (50 points), Adeiwa Pharma Consortium (50 points) and Ecovida Consortium (50 points).  These companies were recommended by the Evaluation Commission to obtain the manufacturing license. The cost of each one is $150,000 non-refundable, as established in article 61 of the law.  This means that for granting these permits, the Minsa would receive $1 million 50 thousand.  Licenses will be granted for a period of 10 years.  There are three appeals for reconsideration presented by the companies IMC PTY, Apothecary Health Corp. and Panama Medical Industrial Corp. who will receive responses by March 14. 

In at least 20 countries, medicinal cannabis is legal and both the United States Food and Drug Administration (FDA) and the European Medicines Agency (EMA) have recognized medicines derived from this product.  Panamanian law specifies that medicinal cannabis is indicated to relieve chronic pain or nerve injuries; to control nausea and vomiting, as well as conditions such as Alzheimer’s, amyotrophic lateral sclerosis, human immunodeficiency virus and AIDS, cancer, Crohn’s disease, epilepsy, seizures, glaucoma, multiple sclerosis and muscle spasms. Panama is the first country in the Central American region to approve the use of cannabis for medicinal and therapeutic purposes, which was achieved after five years of analysis and discussions of the legislation. Minsa reported that 14 companies have submitted proposals to obtain a license to manufacture medicinal cannabis derivatives.