The initially European deal for Canadian firm MediPharm Labs will see its health-related cannabis goods 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 significant milestone in its international ambitions.
And, it follows hot on the heels of its initially ever international agreement in the Australian market place, earlier this year. In a stock market place statement MediPharm highlights why it has targeted Germany as its initially European port of contact.
Up To 50,000 Cannabis Individuals
It says the German health-related cannabis market place at present serves up to 50,000 individuals a really speedy advance considering that its introduction in March 2017. With a population of more than 80 million it is set to be Europe’s biggest health-related cannabis.
MediPharm’s ‘white label’ agreement with German pharmacy ADREXpharma will see its provide ‘high high quality, purity assured, cannabis concentrate derivative goods, which includes THC and CBD oil, for sale and distribution below the ADREXpharma brand’, it says in the market place release.
ADREXpharma is licensed wholesale distributor of controlled drugs and health-related cannabis, saying it serves practically all of Germany’s 20,000 pharmacies.
MediPharm ‘The Best Partner’
Mario Eimuth, Chief Executive Officer, at ADREXpharma, mentioned 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 Great 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 comprehensive building of a new extraction facility in Wonthaggi, Victoria, which will function supercritical carbon dioxide extraction, it says in a second market place release.
This will be in a position to procedure up to 75,000 kg of dried cannabis annually, as nicely as incorporating secondary processing gear for the manufacture of purified and higher-concentrate cannabis distillate.
It has agreed terms, initially for one particular year, with an Australian Licensed Producer to supply dried flower for the facility.
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