Flora Growth Corp. (NASDAQ:FLGC) has filed twenty-three cannabinoid-infused food and beverage products with the Instituto Nacional de Vigilancia de Medicamentos y Alimentos, similar to the US FDA. This filing follows signing of resolution 227 by the Colombian President, Ivan Duque, which provides the necessary framework for the use, distribution and export of cannabis, dried flower, and other non-psychoactive derivatives.
The company expects to be the first cultivator in the world to obtain these unique approvals from INVIMA for its cannabinoid-infused food and beverage products which will include juices, sparkling seltzers, gummies, and healthy snack foods. These goods have been developed under Flora’s KASA Wholefoods division which prioritizes the sourcing of natural ingredients and value-chain sustainability to create items to help consumers restore and thrive.
“We are incredibly excited by the government's decision to permit cannabinoid food and beverage products and look forward to bringing these cannabis wellness products to consumers in Colombia and around the globe,” said Luis Merchan, president and CEO of Flora Growth. “Aligning with globally recognized safety and compliance standards is at the forefront of Flora’s strategy, particularly when it comes to the food and beverage sector of the cannabis industry.”
INVIMA is a Colombian regulatory authority under the Ministry of Health managing inspection and supervision of the marketing and manufacturing of health products. The authority also identifies and evaluates health standards and procedures and implements best practices by providing medical approval for the import and export of products.
Price Action
Flora Growth shares were trading 2.72% higher at $1.89 per share during Tuesday's pre-market session.
