German Iuvo Therapeutics Imports 20K Units Of CBD Extracts From Australia

May 5, 2021 7:12 am
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German Iuvo Therapeutics Imports 20K Units Of CBD Extracts From Australia

Iuvo Therapeutics Ltd. has imported 20,000 units of full-spectrum extracts derived from non-irradiated GMP certified cannabis flower from Australian-based Cann Group Limited.

The Potsdam, Germany-based company said Tuesday it would introduce two full-spectrum extracts, including a high THC extract and a balanced THC:CBD extract.

Iuvo Therapeutics Ltd. CEO Jonathan Lubosch-Haenisch disclosed that the products come without synthesized cannabinoids or terpenes and are "strictly derived from premium GMP certified cannabis flower."

This is "the largest single shipment from Australia to date,” according to Cann Group CEO Peter Crock, which he called "an exciting milestone" for the company.

"It also demonstrates Iuvo's commitment to provide its growing customer base with GMP-standard medicinal cannabis, a prerequisite for the German market," Crock added.

Iuvo is poised to become one of Europe's biggest suppliers of cannabinoid-based pharmaceuticals, with Germany holding the position of the largest medicinal cannabis market on the continent.

Over the last quarter of 2020, Germany imported 3,264 kilograms of cannabis flower, hitting another record.

On a yearly basis, the European country saw a 36% year-over-year increase in imports, bringing it to 9,249 kilograms of imported cannabis flower in 2020, as per Federal Institute for Drugs and Medical Devices (BfArM).

Photo by Ryan Lange on Unsplash

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