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"Procaps is a unique company with tremendous potential," said Vieira, who will officially take over the CEO role on January 15.

With a deadline looming, Sanitas reached a distribution agreement with pharmaceutical management firm Audifarma to avert the crisis — for now.

This is the fifth straight year Procaps has placed first in the annual "innovation ranking," which measures firms in Colombia on their innovation capacity in areas including organizational culture, product innovation, and marketing.

Perhaps, instead of wasting time and money on lawyers, beverage companies should have spent their cash on R&D for new healthier products.

Many of these molecules, if approved, will likely be introduced to our region for the first time," said Dr. Camilo Camacho, COO of Procaps Group.

Health protocol approval was required by Beijing regulators so that Colombia "regain the status" of a country free of foot-and-mouth disease.

The popular cloud kitchen startup has now raised more than $86.5 million USD and says it plans to solidify its reach in the region.

"The export process from Colombia has proven to take longer and operate with less consistency than we had anticipated," said board member Hussein Rakine.

A ban on high-sodium food products has turned products like Dijon mustard into illegal contraband — and led to big challenges for fans of the French staple.

Tilapia have been dying across the country as a foreign bacterium harmful to the species was detected, forcing the government to declare a State of Sanitary Emergency.