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As the global cannabis market continues to expand at a serious pace, Aussie cannabis companies are reaching out globally to form a powerhouse export market.
Australian Natural Therapeutics Group (ANTG) has recently announced a partnership that will allow it to export its cannabis for German patients.
In partnership with Cannamedical Pharma, one of the leading independent cannabis wholesalers in the European Union, ANTG will distribute cannabis across German pharmacies from 2019.
The company says the agreement will give its operations a solid boost at home and abroad.
"While ANTG's priority remains to provide superior quality medicinal cannabis for local patients, the new laws allowing Australian companies to export overseas allow for significant opportunities to scale up operations and gather learnings that can then support the Australian market," says ANTG.
Chief executive officer of ANTG, Matt Cantelo, says now is the perfect time for the company to expand into the European markets.
"The legalisation of cannabis for medical use has experienced a widespread wave of interest and support in Europe," says Cantelo.
"We are excited to start exporting our products to one of the fastest growing medicinal cannabis markets in the world providing us with a solid presence in Europe. We however remain motivated by the possibilities and health benefits that medicinal cannabis offers and continue to focus on research and development in Australia."
Since legalisation of medicinal cannabis in 2017, Germany's market has grown rapidly. Cannamedical Pharma supplies over 20,000 pharmacies in Germany with cannabis and imports about 22 tonnes a year to meet the demand of over 691,000 patients.
ANTG is following in the footsteps of listed medicinal cannabis company Zelda Therapeutics who announced their partnership with German company HAPA Medical in early September.
Zelda's significant deal will allow the company to push into the rapidly expanding German market upon the successful completion of clinical trials.
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Business News Australia
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