(RTTNews) - Canadian cannabis company Aphria Inc. said it has completed its first shipment of dried cannabis flower from its facility in Canada to Germany. The company noted that the shipment strengthens its position as a leading cannabis company in Germany and the European Union.
Aphria said that the first shipment of dried flower to its wholly-owned German subsidiary, CC Pharma GmbH, was completed from its Aphria One facility in Ontario, which is certified for European Union-Good Manufacturing Practices or EU GMP.
CC Pharma is a distributor of pharmaceutical products to more than 13,000 pharmacies in Germany.
"We are leveraging our strong medical platform and multi-faceted German strategy, which combines domestic cultivation, import licenses and large distribution infrastructure, to increase access to high-quality medical cannabis for patients worldwide. We remain excited about future milestones, including the completion of our cultivation facility in Neumünster, Germany, which we expect will be completed in Q2 FY2021," said Irwin Simon, Chief Executive Officer of Aphria.
The German market is considered to be one of the most highly sought-after developed medical cannabis markets in the world.
Aphria said its German operations were preparing for the import of EU-GMP certified cannabis from Canada, allowing for shipments to CC Pharma in order to leverage CC Pharma's expansive in-country distribution network.
Aphria said it launched several CBD-based wellness brands in Germany in the first quarter of 2021.
These include CannRelief brand, a line of cosmetic oils and creams as well as supplements; Evoque brand, which includes skin products such as face creams and serums; and CannaPet brand, a line of products that bring relaxation, relief or recovery to pets.
The German market is the largest and fastest growing market for medical cannabis in Europe.
According to the Medical Cannabis Network, the medical cannabis market in Germany is currently valued at between 150 million euros and 175 million euros, despite only around 10 percent of the 20,000 pharmacies in Germany currently selling medical cannabis products.
Earlier this week, MediPharm Labs Corp. said that German pharmaceutical company STADA Arzneimittel AG signed an exclusive medical cannabis supply agreement with MediPharm's wholly owned subsidiary. Canada-based MediPharm Labs is a provider of cannabis oil and concentrates.
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