Cannabis: Another German importer wants Little Green Pharma’s products
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Little Green Pharma (ASX:LGP) announced a new export partner — and it happens to be the only company covering the entire medicinal cannabis production chain.
Berlin-based Deutsche Medizinalcannabis (Demecan) will import and sell LGP’s Classic medicinal cannabis oils and dried cannabis flowers. While many Australian cannabis companies import cannabis, LGP grows its own in Western Australia.
The first shipment is expected in the second half of this year and it will be at a premium compared to its Australian sales. However it has been exporting to Germany for nearly 6 months.
We are excited to be leading the way with our export of Australia's first locally-grown medical cannabis product to Germany. Stay tuned for more exciting announcements to come. #medicalcannabis #medicalmarijuana #Australiasfirst #cannabisexports #australianmade https://t.co/hlAw3D1Qf7
— Little Green Pharma (@LittleGreenPHAR) September 16, 2019
Germany is the largest medicinal cannabis market in Europe, with 240,000 estimated prescriptions. But there is insufficient domestic supply due to delays in its cultivation tendering process.
Demecan executive director Cornelius Maurer said LGP shared his company’s focus on patient well being and positoining as a high quality pharmaceutical provider and wholesaler.
LGP’s own Fleta Solomon said he was thrilled to enter into the partnership.
The company only listed last week and dropped on debut. While it is still underwater, shares rose 3.7 per cent this morning.
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