European Pharmaceutical Company STADA and MediPharm Labs Begin First Sales in Germany Under Exclusive Agreement - Seite 2

STADA is initially focused on medical cannabis indications for chronic pain, neurology and oncology. A specially trained field force for medical cannabis is now actively informing physicians about medical aspects as well as the practical use of medical cannabis, prescribing, applying for reimbursement by health insurance companies and individual patient treatment regimens. This effort is aimed at providing guidance and education in a relatively new market and reflects STADA's stated purpose of "Caring for People's Health as a Trusted Partner". More than two dozen of STADA’s sales representatives have been specially trained in the field of medical cannabis to date.

Full API Supply

To address market needs, STADA has partnered with MediPharm Labs as its “go–to” provider of a wide-ranging portfolio of products and services, and full turnkey API supplier for all formats and delivery methods. This will ensure that physicians and pharmacies in Germany can rely on STADA’s medical cannabis products to reliably address the patient needs.

The first shipments of dry flower under the agreement were curated by MediPharm Labs from its network of GMP-certified cultivators. Manufacturing of extract products for delivery under the agreement is taking place at MediPharm Labs Australia, a GMP-certified and fully licensed production facility.

When products arrive in Germany, MediPharm Labs oversees work to complete lab testing, labelling and final distributions.

Next Steps

Upon full launch, STADA and MediPharm will work on innovating the offering for the German market and expanding supply to other European countries where regulations allow. For patient-specific therapy, STADA intends to create a broad product portfolio.

“As this first shipment and first sales mark MediPharm Labs’ entry into the international pharmaceutical industry within a major European market, we are excited by the opportunities that lie ahead as we employ all of our value-added capabilities,” said Mr. Strachan.

The Growing German Market

Medical cannabis has been permitted for therapeutic use in Germany since 2017 and may be prescribed by a physician in the event of serious illnesses. With over 83 million inhabitants benefitting from broad access to healthcare services, Germany currently represents an estimated 75% of the current EU medical cannabis market.

The Medical Cannabis Network reports the medical cannabis market in Germany is currently valued at between €150m and €175m, despite only around 10% of the 20,000 pharmacies in Germany selling medical cannabis products today. With greater awareness and education, the Medical Cannabis Network estimates that Germany’s dominance in the European cannabis market could expand to €1.5bn by 2025.⁽¹⁾