Aphria Inc.today announced that it has signed a Letter of Intent (the “LOI”) with Insumos Medicos S.A. (“Insumos”), a Paraguayan pharmaceutical manufacturing, import
“Latin America continues to represent an important growth opportunity within the global medical cannabis industry, and we are excited to be among the first to enter the rapidly emerging market in Paraguay,” said Jakob Ripshtein, President of Aphria. “Our strategic partner, Insumos, is well-positioned to establish a leading presence for the Company’s products throughout the country. Aphria will continue to expand its footprint in the most strategic markets in Latin America and around the world through its diversified approach to innovation, partnerships and expansion.”
Insumos is a distributor of pharmaceuticals to hospitals within Paraguay. Insumos has the network, relationships, and reach to bring Aphria’s products to patients in need across the country. As part of the proposed agreement, Insumos will undertake the registration of Aphria’s products with Paraguay’s Ministry of Public Health and Social Welfare and appropriate licensing for the import of medical cannabis.
Upon completion of the proposed agreement, Paraguay will become the third market in Latin America, following Argentina and Colombia in which Aphria products will be distributed. Entering Paraguay is in line with the Company’s continued long-term strategy for international expansion. Today, Aphria’s global presence extends across Canada, Europe, Latin America, the Caribbean, Africa and Oceania.
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