MYM Signs MOU With Colombian Medical Cannabis Company

CANADA: MYM Nutraceuticals has signed a Memorandum of Understanding (MOU) with NEWCANNA, a leading Colombian medical cannabis company.

MYM and NEWCANNA are proposing to form a new, jointly-owned company in Colombia to focus on the large-scale commercial cultivation and transformation of cannabis and hemp for medical, scientific and industrial purposes, and export to worldwide markets.

NEWCANNA has agreements in place with multiple indigenous communities in Colombia totaling over 400 families (approx. 1,400 people) that control 7,400 acres of cultivation property. In 2018 the indigenous growers have the capacity to be producing approximately 217,500 kg of high-grade cannabis for processing and export worldwide. With planned production expansion with the indigenous growers, NEWCANNA’s production is expected to be over 1,000,000 kg of cannabis in a year or two. The high mountains of Colombia provide a perfect climate to cultivate cannabis and allow production costs to be a fraction of what it costs to produce in Canada.

MYM and NEWCANNA are also proposing that, along with the cultivation and transformation of raw materials into medicinal oils, tinctures and a variety of products, they also construct a research and development laboratory for the design and creation of new products, in-house analysis and testing, and the refinement of new and unique delivery systems.

In the last year, NEWCANNA has consolidated vast properties of land that are ideal for the cultivation of cannabis and hemp throughout different regions of Colombia. NEWCANNA has formed valuable alliances with multiple indigenous communities within Colombia and has a large workforce of eager participants for all planned organic cultivation projects.

 

The Nutraceuticals Market Is Expected To Grow To $275 Billion By 2021

UNITED KINGDOM:  Humans have been consuming choice foods for their medical benefits for millennia. The ancient Egyptians had over 800 known pharmacological treatments for disease, of which 160 were plant products – including compounds being investigated for use in disease today, such as cannabis Historically, herbal medicine utilized many compounds that are now considered nutraceuticals. For instance, bitter apple, Citrullus colocynthis, is described in ancient medical texts, and has been shown to have positive efficacy in clinical trials for uses in cancer and diabetes.

Nutraceuticals market is growing and diversifying rapidly. These products are linked by the fact that they are dietary products that have some degree of either purported or clinically evidenced medical benefit. However, the market lacks a clear definition of what constitutes a nutraceutical, with the term covering a spectrum of products from prescription-only medical foods to widely available consumer supplements.

KPMG forecast that the nutraceuticals market will be worth around $250 billion by 2018, and while the exact scope of what is considered a nutraceutical is broad and variable, the products identified in the KPMG report largely fell within the GBI definition of nutraceuticals. The value of the nutraceuticals industry is over 25% of the value of the pharmaceutical industry, and under 5% of the value of the food industry. Analysts have predicted about 7.3% compound annual growth rate (CAGR) for nutraceuticals from 2015 to 2021, with the market expected to be worth over $275 billion by 2021. This compares favorably with the CAGR of around 4% witnessed from 2002 to 2010.

The report “Nutraceuticals: New Applications for Probiotics, Genetic Modification and Diet as Products Make Gains in Rx Territory” provides key industry perspective on the nutraceuticals industry from a large survey of over 150 food and pharmaceutical industry professionals, both within and outside of the nutraceuticals sector. Those involved in the industry were found to mostly believe in the value propositions of nutraceuticals, and expected their company to increase its level of investment in the area. In contrast, for those not involved with nutraceuticals the opposite was generally true.

Scope
– How can the nutraceuticals sector be defined in general, and what types of product does it include?
– What are the key strategies used in marketing and developing some of the leading nutraceutical products?
– What are the key companies involved in nutraceuticals?
– What are some of the key upcoming products, companies and research trends within nutraceuticals?
– How does the regulatory landscape for different types of nutraceutical vary in key territories?
– What factors have hindered the growth of the nutraceuticals market?
– How can companies grow successfully within the nutraceuticals market?

Reasons to buy
– Understand the complex differences in the regional regulation of nutraceuticals, and how they shape the market
– Understand key future trends in the nutraceuticals market
– Gain an understanding of the industry perspective on critical aspects of the nutraceuticals industry, such as drivers, barriers, promising geographies and the value propositions of products
– Understand the strategies of key players from the food and pharmaceutical industries that are involved in the nutraceuticals market

Download the full report.