Israel medical cannabis producer IM Cannabis IMCC achieved another milestone in bolstering the presence of its branded products in the European market.
This week, the company announced its EU-GMP German subsidiary, Adjupharm GmbH, secured an extension to its license from the German medical regulator for the import of 4,000 kilograms of dry flower and extracts.
The license allows IMC to import from various countries such as Spain, Portugal the Netherlands, and Canada, both bulk and end-products including dry flower, dronabinol and extracts. Furthermore, the license enables IMC to fulfill binding sales agreements the company recently signed with three German distributors.
“The ability to diversify the sources in which we import our branded products into the German market is a significant strategic advantage," Oren Shuster, co-founder and CEO of IM Cannabis, said. "It enables IMC to move forward in meeting the current and future growing demand for medical cannabis in Germany. It also provides the peace of mind and confidence to our distributor partners that we deliver on our contractual obligations and beyond.”
Don’t miss this opportunity to connect with THE cannabis movers and shakers from across the globe during Benzinga’s first Virtual Cannabis Capital Conference on June 1.
Photo by Javier Hasse.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Click on the image for more info.
Cannabis rescheduling seems to be right around the corner
Want to understand what this means for the future of the industry?
Hear directly for top executives, investors and policymakers at the Benzinga Cannabis Capital Conference, coming to Chicago this Oct. 8-9.
Get your tickets now before prices surge by following this link.