Recently, Aurora Cannabis said it will supply medical cannabis to Mexico through a partnership with pharmaceutical manufacturer and distributor Farmacias Magistrales.

Now, thirty-eight cannabis products have been authorized by the Mexican Federal Commission for the Protection Against Sanitary Risks (COFEPRIS) are expected to be available through retail and online channels within a month.

Seven companies – four from Mexico, two from the United States and one from Spain – received approval for their goods, which include:

• 21 food supplements
• Nine cosmetics products
• Six edibles or beverages
• Two raw materials

As of Nov. 21, COFEPRIS – the Mexican equivalent of the U.S. Food and Drug Administration – had received 51 product applications, and five have already been rejected.All of the approved products in this first round contain no or minimal (less than 1%) THC and can be sold without a prescription or special authorization.

A complete list of the companies and their registered products can be found here.

Julio Sanchez y Tepoz, federal commissioner of COFEPRIS, said at a news conference the agency is committed to approving additional applications in a timely manner.

“These authorizations were issued under the guidelines recently published by COFEPRIS,” said Jose Alberto Campos Vargas, an attorney with Mexico-based law firm Sanchez DeVanny.

What Does This Mean For Marijuana Stocks?

The 3 main Cannabis companies who will benefit from this actually come from Canada, as Aphria, Profile Solutions Inc, & Aurora Push Into US celebrated a victory with the new classification, even though it currently applies to only one drug for rare diseases and has a price tag that may limit the market.

Profile Solutions, Inc. (OTC Pink: PSIQ) announces based upon strong product demand for its Products, PSIQ is on the path toward significant revenue growth in 2019 as compared to 2018. The Company has made significant investment in development of its nationwide distribution infrastructure and expects this forward movement to continue. This trend is even potentially more impactful with President Trump signing of the 2018 Farm Bill. The 2018 Farm Bill removed CBD derived Hemp from the Schedule 1 drug list and makes Hemp CBD Federally legal for use, interstate transporting, and export. Hemp based CBD with under .3% THC (the psychoactive ingredient in marijuana) has proven to be medically beneficial in a regimen of wellness and pain relief programs.

Dan Oran, CEO of PSIQ stated,

“We believe PSIQ is in the right place at the right time by offering a variety of Hemp based CBD products under our proprietary formulation. We have previously made several announcements including but not limited to (1) strong revenue growth to date (2) the filing of our Registration Statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) as the first step to becoming an SEC reporting company and up listing to the OTCQB (3) receiving preliminary approval from the eSwatini Ministry of Economic Planning and Development to establish an exclusive growing farm and processing plant for medical Cannabis & Hemp in The Kingdom of eSwatini (4) an agreement with Saboneto Soaps for Saboneto to exclusively produce Natural Healthy Soap with Dead Sea Salts infused with Hemp and (5) an exclusive brick & mortar distribution rights agreement to Cheech & Chong men’s grooming products with Hemp in the United States and Israel.”