Marijuana Business Magazine - May-June 2018

C hile is a trailblazer in Latin America when it comes to medical marijuana. In 2015, the country legalized MMJ and decriminalized small amounts of recreational cannabis. Soon after, Chile approved the first medical cannabis grow operation in Latin America. Then, in 2017, drugstores in Chile’s capital, Santiago, started sales of MMJ, marking the first time it was available at pharmacies in Latin America. Most opportunities seem to involve partnerships concerning cannabis oil. Canada’s Tilray already has teamed up with Alef Biotechnology, for example. The two companies won approval to import cannabis drops. Although Chile has been slow to license MMJ cultivation and enact follow- up regulations, recent trends are promising for entrepreneurs. Here’s what you need to know: • An estimated 88,000 Chilean patients suffering from various conditions could benefit from medical cannabis, according to one study. • Any doctor who can prescribe medicine is able to authorize medical marijuana. • DayaCann, a joint venture between AusCann and the Chil- ean-based Daya Foundation, holds the country’s only active license to cultivate medical cannabis. • Cultivation licenses are awarded by the government for a one-year period. Industry: Medical Marijuana Chile CHILE GOING GL BAL 60 • Marijuana Business Magazine • May-June 2018