MediPharm Labs has exported its first shipment of GMP-certified cannabis oil products to Germany, available to patients through the company’s German distribution partners.
Only companies that have received GMP certification are permitted to export cannabis products into Germany and only a handful have been successful in doing so.
MediPharm said the move “demonstrates Australia’s pharmaceutical excellence and positions Australia as a global leader in the production of cannabis medicines”.
The first shipment of finished oil products exceeded 12,000 units with a second shipment expected to go out this month
The company said white-label product shipments to its German customers will continue in Q2 2021. Upon full launch, it will work on innovating its offering for the German market and expanding supply to other European countries where regulations allow.
MediPharm Labs Australia CEO Warren Everitt said: “This first shipment and first sales to Germany 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.”
The Medical Cannabis Network reports the German market is worth €150m-€175m, around 75% of the EU total, despite only 10% of its 20,000 pharmacies currently selling medical cannabis products. With greater awareness and education, it estimates that could grow to €1.5bn by 2025.
Cannabis has been permitted for therapeutic use in Germany since 2017.