Israel’s medical cannabis export industry is beginning to take shape. Leading Israeli medical cannabis company Panaxia received approvals to export their products to Germany and France earlier this week.
On Wednesday, Panaxia, Israel’s largest manufacturer of medical cannabis products in Israel, announced that they had become the first company in the country to receive a commercial medical cannabis export license to Germany from the Health Ministry.
Before the end of 2020, Panaxia will begin selling a series of premium oil-based medical cannabis products in Germany under the Naxiva-Panaxol brand, which it shares with European pharma giant Neuraxpharm.
However, the market potential in Germany – around 70 thousand medical cannabis patients, coupled with a significantly higher monthly price than in Israel – signals that this announcement could be a much larger turning point for Panaxia and the Israeli medical cannabis industry as a whole.
On Tuesday, Panaxia and Neuraxpharm…