MediPharm Labs Corp., a Canadian company that describes itself on it's website as a global leader in purified cannabis concentrates. The company was founded in 2016 and specializes in producing pharmaceutical-like cannabis oil and concentrates, and other advanced derivative formulas. The company announced in a recent press release that it has entered into a sales agreement that will allow export of its products to Europe. The agreement was made with ADREXpharma GmbH, which is a wholesale distributor of controlled drugs and medical cannabis.
Through the agreement, MediPharm Labs will supply ADREXpharma with cannabis concentrates that are of high quality and whose purity levels have been assured. The cannabis concentrates are derived from cannabis. In addition to the concentrates, the company will also supply THC and CBD oil. The products will be sold under the ADREXpharma brand in Germany, once all regulatory approvals have been met.
Pat McCutcheon, the CEO of MediPharm Labs, shared in the press release that the company is excited about the partnership with ADREXpharma. The relationship will enable MediPharm to leverage the company’s expertise and local distribution, and moreover, MediPharm will be able to provide high-quality products that have meet purity standards to the Germany Market.
Mario Eimuth, the CEO of ADREXPharma also shared similar sentiments about the partnership, stating that the company is “thrilled” to partner with MediPharm Labs and to grow its product range.
According to the press release, the German medical cannabis market is marked by growth, and is the “largest” growing market outside of North America. The Bank of Montreal, in an August 25, 2019 report, indicates that the number of medical cannabis patients in Germany has increased by 1,000 to approximate 30,000 to 50,000 patients. Further, in another report by the Bank of Montreal, by 2026, the medical cannabis market size could reach $30 billion.