Germany’s roughly 20,200 pharmacies will be stocking medical cannabis imported from none other than Canada any day now. This new export partnership is the result of two separate but equally as noteworthy deals signed with Canadian medical cannabis producers. Canadian brands Cronos Group and Tilray have officially broken into the European market. The deals will provide 70 million of Germany’s insured residents with upwards of tens of millions of dollars worth of medical cannabis.
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The market in Germany is the largest in Europe, which is why Canadian medical cannabis producers have been pushing for years to expand into the country. With the addition of a new trade bill in March 2017 Canada was slotted to be a worldwide leader in cannabis. Now the aggressive persistence to do so could have Cronos and Tilray products on German pharmacy shelves as early as next week.
Tilray was the first company to go live with their announcement on Oct. 10, announced that within the week their full-spectrum cannabis extracts would be available for sale in the European country.
Tilray CEO Brendan Kennedy stated, “This is another strategic milestone for our company as we aim to increase access to medical cannabis around the world. We are proud to be the first supplier to offer full-spectrum extracts to German patients throughout the country.”
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They weren’t the only Canadian cannabis company in the country for long, though, since Cronos announce their partnership with G. Pohl-Boskamp GmbH & Co. KG ("Pohl-Boskamp") just two days later. Unlike Tilray, they will be exporting cured flower and not extracts and have been clear that this is a partnership, not just a distribution deal. They’ve been working closely with Pohl-Boskamp to continue providing the best products possible.
"We are ecstatic to partner with Pohl-Boskamp, an established and reputable pharmaceutical leader. This partnership allows us to leverage an existing industry leading pharmaceutical distribution channel to immediately create the world's largest medical cannabis distribution platform," said Mike Gorenstein, CEO of Cronos.
These deals landing before the country legalizes recreational cannabis is a great indicator that Canada is still on site for becoming a major player in international cannabis.Posted: Thursday, October 19th, 10:20am a year ago
Cara Wietstock is a native Californian living in Washington state with almost a decade of budtender experience and even more stoner experience. While she's not pontificating on the current state of cannabis for Roottie, she is practicing yoga, sipping CBD infused teas and hiking through the Pacific Northwest.