Late last month Chris Naprawa joined Canada-based Khiron Life Sciences as president, and has every intention of using what he’s learned in that country to expand the company’s business in the Americas region, especially in Colombia—where Khiron’s core business takes place.
“This is a remarkable time for the medical cannabis industry internationally, with regions such as Latin America representing a large addressable market potential,” Naprawa told the press in June. “This is similar to the market potential of Canada 5 years ago. I personally look forward to deploying my extensive expertise and relationships to help develop Khiron's capital market activities.”
The politics of international personal care
The company is so invested in Colombia, in fact, that when Iván Duque was elected as the next President of Colombia, Khiron’s CEO issued a statement: “Khiron applauds the election of Mr. Duque and is fully aligned with the new government's stated social and economic positions. In particular, we support the government elect's commitment to maintaining and improving upon a regulatory environment that enables and attracts foreign investment to create sustainable and secure job opportunities in emerging industries and to provide new health treatment alternatives for Colombians,” Alvaro Torres, told the press in mid-June.
The company press release highlighted the following “core elements of Mr. Duque's agenda:
- Ensuring rating agencies maintain and increase the investment grade rating of Colombia
- Deepening of capital markets and banking relationships to accelerate growth
- Generating greater gross domestic product growth
- Simplifying Colombia's tax systems
- Introducing new measures to provide increased healthcare alternatives for Colombians
- Ensuring fiscal accountability and transparency
- Firming Colombia's stance on the illegal trade of narcotics
Torres added, “This landmark election result provides for the continuation of the important economic and social reforms that have helped Colombia gain standing and respect on global trade in recent years. We believe it will lead to the creation of jobs and sustainable growth in a stable economic environment for many years to come.”
Duque is expected to take office in early August.
Colombia National Food and Drug Surveillance Institute authorization
The latest news out of Khiron Life Sciences is that INVIMA (the Colombia National Food and Drug Surveillance Institute) has authorized the company to make, sell, and export 4 CBD skin care and body care products.
This means the company now has approval to make and market eight such personal care items, “strengthening [Khiron’s] position as a medicinal cannabis industry first-mover in Colombia and Latin America,” according to a press release circulated this month.
Khiron plans to roll out its full-day of women’s and men’s personal care, wellness products starting in Q4 of this year. Each product will first be sold in Colombia and later throughout Latin America (as feasible).
While product specifics aren’t outlined in any company media releases, it’s clear from the Khiron site that the end goal of all this is to operate numerous Khiron branded medical clinics that prescribe the company’s eventual heath care / pharma products.
Deanna Utroske, CosmeticsDesign.com Editor, covers beauty business news in the Americas region and publishes the weekly Indie Beauty Profile column, showcasing the inspiring work of entrepreneurs and innovative brands.