Investors Bet on Pharma to Reboot Uruguay Cannabis Industry
- Extraction lab GreenMed bets big on pharma ingredients
- GreenMed CEO sees exports to Brazil, EU starting next year
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Uruguay has struggled to build a medical marijuana export industry since it legalized the plant almost a decade ago. Now the backers of a multi-million dollar cannabis extraction lab see an opportunity to turn the South American country into a global supplier of pharmaceutical ingredients.
“Uruguay has a very stable regulatory framework and a history as a pharmaceutical hub for the region,” GreenMed chief executive officer and co-founder Ignacio Bussy said in an interview. “That makes Uruguay a potential player in the pharma grade cannabis industry.”