Colombia: SIC leans on medicinal marijuana producer over unfair competition

Colombia’s Superintendence of Industry and Commerce has enacted precautionary measures against Khiron Colombia S.A.S., requested by Pharmacielo Colombia Holdings S.A.S. which has accused Khiron of unfair competition.

According to the plaintiff (Pharmacielo), legal counsel Andrés Eduardo Torres Rueda leaked sensitive information related to the structure of their commercial activity; cannabis production and manufacturing processes; expected returns; as well as data on the processing and management of the exploitation licenses, among others, to his brother Álvaro Francisco, legal representative of Khiron Colombia.

The SIC ordered the Ministry of Justice, the Ministry of Health and the National Narcotics Fund to suspend all licenses granted to Khiron for the manufacture of cannabis derivatives, as well as the use of seeds and plant cultivation. However, in order for the measures to be effective, the SIC ordered Pharmacielo to pay a bond of $500 million pesos to cover the possible damages to Khiron as a result of this cautionary decision.

Álvaro Torres, CEO of Khiron, said that they have not received any legal notices so far against the firm and that “it is strange that these actions exist since there is yet no industry or legal market for medicinal cannabis in Colombia.”

Full Content: Asuntos Legales

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