Mexico may be the next frontier for medical marijuana
Medical Marijuana Inc, a pioneer in the industrial hemp business, is betting on Mexico as its next big market as the country opens up to the import of some cannabis-derived products for medical use.
The California-based company manufactures a hemp oil which can, under permits granted this week, be imported to Mexico for the first time to treat specific medical cases. It already supplies a similar product to Brazil.
Stuart Titus, Medical Marijuana's chief executive, said Mexico represented a "$1 billion to $2 billion opportunity" in terms of cumulative revenue over the next 10 years.
Many companies in the legal cannabis business are considering a bet on Mexico after a Supreme Court decision in November opened the door for the eventual legalization of recreational marijuana.
Just days after this decision, a ruling party senator proposed a bill to allow the import of medical marijuana products to help the roughly 5,000...
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