News Americas, BRIDGETOWN, Barbados, Weds. August 16, 2023: The Barbados Medicinal Cannabis Licensing Authority (BMCLA) has granted approval to two local companies for operations in the medicinal cannabis sector.
Amalgamated Security Services (Barbados) Limited and Island Therapeutics Inc. have received a total of seven licenses combined, bringing the count to nine local businesses authorized to participate in the medicinal cannabis industry. This marks a collective total of 25 licenses. The initial set of business approvals and licenses were issued by the BMCLB in July 2022.
Acting Chief Executive Officer, Senator Shanika Roberts-Odle, commented, “The approvals from the Barbados Medicinal Cannabis Licensing Board (BMCLB) take us a step closer to expanding Barbados’ legal medicinal cannabis marketplace.” She further explained that the approval process establishes a robust medicinal cannabis supply chain, encompassing cultivation, processing, transportation, and distribution of trusted, high-quality products.
This progress enables businesses to legally import planting materials for cultivation, as well as transport raw materials and finished products. The established framework also facilitates the export of locally produced medicinal cannabis and products, fostering opportunities for entrepreneurship, job creation, and a thriving market.
Roberts-Odle emphasized that the comprehensive approach in Barbados is geared toward the overall growth of the medicinal cannabis ecosystem, promising both economic growth and advancements in patient access to high-quality therapeutic options.
