Khiron Life Sciences Corp (OTCMKTS:KHRNF) has announced that due to a directive from the Colombian government, its National Strategic Project status, and strong clinical evidence, its medical marijuana clinical services and products are covered by leading health insurance providers in Columbia. The cover extends to medical marijuana as first-line therapy.
Medical cannabis cover Columbia huge opportunity
Alvaro Torres, the company’s CEO and Director said that the insurance coverage of the company’s products and services is a huge revenue driver in Columbia. He added that it is also a validation of Khiron’s clinical model and the potential the Columbian market holds. Most importantly, the move will increase access to Columbians who will benefit from the company’s medical cannabis clinic resources and products.
Torress explained that since Khiron became the first firm to fill cannabis prescriptions in the country, 92% of the company’s patients have reported improvement in the quality of life with the use of Khiron products in just four months. Columbia now joins a list of countries that provide health insurance coverage for medical marijuana products including the Czech Republic and Germany.
Khiron’s 2020 milestones
The company became the first company to sell THC and CBD products in Peru in 2020 exporting THC from Columbia. Khiron was the first Columbian company to export THC products and on December 9th it opened a clinic in Medellin as part of its plan to extend medical cannabis clinics nationwide and across Latin America. The company shipped medical marijuana products to the UK for Project Twenty21 with 8,000 patients already showing interest. In 2020, Khiron completed its medical marijuana e-learning certification by participating physicians in partnership with the Medical Cannabis Clinicians Society.
Torres indicated that 2020 has been a historic year for the company in the advancement of its operations. The company also saw an increase in patient volume in its expanding clinic network in Columbia, with the telehealth platform equally attracting several patients. Torres added that the company realized sales in Peru becoming the first company to export THC products from Columbia.