Neuraxpharm Partners With Panaxia To Bring Medical Cannabis To Germany

European pharmaceutical company Neuraxpharm has teamed up with Israel medical cannabis producer Panaxia Labs Israel PNAX to begin marketing medical cannabis products.

Neuraxpharm focuses on pharmaceutical products for the central nervous system, covering 12 European countries, or more than 80% of the European CNS drug market. It is often regarded as the leading European CNS Specialist, having annual revenues of approximately €480 million ($524.6 million).

With Germany being considered one of the biggest and fastest-growing medical cannabis markets in Europe, the two companies expect to set their focus there, projecting they will reach other markets in the future.

The deal contains a mutual option to examine extending partnership to other countries in Europe.

Under the partnership agreement, Panaxia will be in charge of producing the products under EU-GMP standards, while Neuraxpharm will take over branding, and distribution to certified pharmacies in Germany.

See Also: Panaxia Reports Positive Results From Medical Marijuana Clinical Trial

The first sales are expected to begin once the companies obtain a receipt of regulatory approval this year.

"As a leading European pharmaceutical company specialized in CNS, we are delighted to announce this promising collaboration with Panaxia, a leader in medical cannabis products," Jörg-Thomas Dierks, CEO of Neuraxpharm said in a statement. “As part of our commitment to find new solutions for unmet needs, we are truly excited to jointly pioneer in the fast growing medical cannabis sector and expand our portfolio of products in CNS.”

Dadi Segal, CEO of Panaxia Labs Israel, also praised the collaboration.

"We are excited and proud to have an European leader of Neuraxpharm's caliber select Panaxia to move forward together into the medical cannabis market," Segal said.

Photo courtesy of Neuraxpharm

Posted In: CannabisNewsEurozoneHealth CareRetail SalesMarketsGeneralGermanymedical marijuana

Missed the first wave of cannabis investments? Don’t make that mistake again.

Experts believe cannabis stocks have found their floor and are now poised for unprecedented growth.

Join Benzinga PotProfits. Our in-house canna stock expert, Michael Berger, is on a mission to uncover the most promising cannabis stocks poised for growth, even in a dull market. He leaves no bud unturned to bring you the juiciest potential double-digit opportunities!

Just this year, the PotProfits portfolio has seen smoking-hot gains like:

  • 47.10% with $GTBIF
  • 40.23% with $TCNNF
  • 21.50% with $VFF

But here's the kicker: Michael is about to release his next potential winners, and he's chomping at the bit to share these ticker symbols with you ASAP.

Don't miss out on the green rush!