The initially European deal for Canadian firm MediPharm Labs will see its healthcare cannabis items created out there to 20,000 German pharmacies.
With dual listings on the Ontario and Frankfurt stock exchanges, MediPharm says this new deal is an crucial milestone in its international ambitions.
And, it follows hot on the heels of its initially ever international agreement in the Australian marketplace, earlier this year. In a stock marketplace statement MediPharm highlights why it has targeted Germany as its initially European port of get in touch with.
Up To 50,000 Cannabis Sufferers
It says the German healthcare cannabis marketplace at present serves up to 50,000 sufferers a pretty speedy advance given that its introduction in March 2017. With a population of more than 80 million it is set to be Europe’s biggest healthcare cannabis.
MediPharm’s ‘white label’ agreement with German pharmacy ADREXpharma will see its provide ‘high top quality, purity assured, cannabis concentrate derivative items, which includes THC and CBD oil, for sale and distribution below the ADREXpharma brand’, it says in the marketplace release.
ADREXpharma is licensed wholesale distributor of controlled drugs and healthcare cannabis, saying it serves virtually all of Germany’s 20,000 pharmacies.
MediPharm ‘The Excellent Partner’
Mario Eimuth, Chief Executive Officer, at ADREXpharma, stated MediPharm shares its ‘patient-centric focus’ and is its ‘ideal partner’. Founded in 2015, MediPharm specializes in the production of purified, pharmaceutical-grade cannabis oil and concentrates, using Excellent Manufacturing Practices and hosting ISO normal clean rooms.
It has 5 main extraction lines with an annual capacity of 300,000 kg of dried cannabis with complementary wholesale and white labelling capabilities. MediPharm is set to shortly full building of a new extraction facility in Wonthaggi, Victoria, which will function supercritical carbon dioxide extraction, it says in a second marketplace release.
This will be capable to course of action up to 75,000 kg of dried cannabis annually, as properly as incorporating secondary processing gear for the manufacture of purified and higher-concentrate cannabis distillate.
It has agreed terms, initially for a single year, with an Australian Licensed Producer to supply dried flower for the facility.
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