Between the cultural tradition of American music and the Nobel Prize-winning Latin American literature of Gabriel García Márquez, FoliuMed relies on strong references to position itself in an increasingly competitive market. Analyzing the global market, the company has Australia as its main focus and sees the country as an inspiring model for Brazil.

"Australia is currently the most important market in the cannabis industry," said Diego Felipe Navarro, Global COO and co-founder of FoliuMed, during the 4th Brazilian Medicinal Cannabis Congress held in May in São Paulo. He believes that the Australian development serves as a mirror to Brazil.

The rising Australian market

Australia's medicinal cannabis sector has been experiencing one of the fastest growth trajectories in the world. In 2024, it generated around US$126 million and is expected to exceed US$420 million by the end of the decade, according to the Forecast Report for the Legal Cannabis Market in Australia 2025-2030.

Another study by Prohibition Partners projects that revenue will exceed US$1.2 billion by 2028 — figures that place the country alongside major markets like Germany.

The expansion reflects the diversification of GMP products available in pharmacies and the popularization of telehealth clinics, which have increased access to prescriptions. In 2023, 3.2 million units of medicinal cannabis were sold, almost double the previous year. In just the first half of 2024, sales reached 2.9 million.

At the same time, Australia is strengthening its domestic production. In 2023, local cultivation reached 26.6 tons, but the country still relies on imports — mainly from Canada, which accounts for 80% of the 42.1 tons imported. Exports are also advancing, totaling more than 2 tons, with destinations ranging from Germany and the UK to emerging markets like Thailand and Uruguay.

Relevance for Brazil

Navarro believes that the Australian model is a direct reference for Brazil. "The Australian market has been maturing for several years and has a size proportional to that of Brazil — even with just over 20 million inhabitants. Brazil, with its 220 million inhabitants, has a huge growth opportunity," he stated.

He sees the revision of RDC 327 by Anvisa as opening up prospects to expand the product portfolio. The expectation is to include medications with higher THC content and new pharmaceutical forms.

"In the last 12 months, there has been an intention to modify the regulation. We hope that the portfolio will be expanded, allowing products with higher THC content and more pharmaceutical forms. This is crucial, and it is exactly what we have in the Australian market," Navarro said.

He also points out that the international experience is already influencing the national regulatory framework:

"Brazil is interested in learning from other regulatory frameworks. We had the privilege of receiving Anvisa authorities in Colombia a few years ago, at our facilities, within a government-to-government cooperation model. I believe this process should continue: learning from already developed geographies and, at the same time, considering the country's specificities."

Between music and literature

FoliuMed operates in a B2C model, with direct management of prescribers and patients. Its two own brands carry distinct cultural symbols: Stanley Brothers, focused on more demanding pathologies and inspired by the legendary American bluegrass duo; and Coronel Buendía, which pays homage to Gabriel García Márquez's work One Hundred Years of Solitude.

This combination of musical tradition and Latin American literature reflects the company's strategy of uniting cultural identity with a highly competitive market.

In addition to cultural diversity, Navarro believes that the combination of regulatory innovation and pharmaceutical quality are essential to sustain global growth in medicinal cannabis. In this context, Australia is consolidating as a strategic market and reference for other countries — especially Brazil.

Follow Navarro's speech during the 4th CBCM: