Canadian-owned Malta-based pharmaceutical company Materia has just won European Union certification for its Malta-based production facility, allowing it to distribute medical cannabis flower across the continent.
Cyprus is beginning to import medical cannabis from Israel.
Crucially for the company, this allows Materia to tap into the burgeoning German market which has quickly grown to become one of the largest in the world.
“The reality is Germany is a larger market today than all other European markets combined… For us, Germany is markets one, two and three,” said Materia Managing Director Nick Pateras earlier this month.
According to a study by Prohibition Partners, Germany imported 3,264 kilograms of medical cannabis flower in the fourth quarter of 2020 alone, for a total of 9,249 kilograms for the entire year. That fourth quarter import amount is the largest single-quarter import of medical cannabis flower in Germany to date.
Suppliers are able to place large volumes in Germany. In 2019, the German federal government disclosed that it had placed a purchase order for 650 kilograms of medical cannabis flower from domestic producers for €1.5 million per quarter.
This reflected a very low approximate price of €2.3 per gram, as the German government’s competitive tender process highly incentivises low prices from any interested producers, but is spending large sums on medical cannabis.
The problem for medical cannabis producers, however, is that other…
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Canadian-owned Malta-based pharmaceutical company Materia has just won European Union certification for its Malta-based production facility, allowing it to distribute medical cannabis flower across the continent.
Cyprus is beginning to import medical cannabis from Israel.
Crucially for the company, this allows Materia to tap into the burgeoning German market which has quickly grown to become one of the largest in the world.
“The reality is Germany is a larger market today than all other European markets combined… For us, Germany is markets one, two and three,” said Materia Managing Director Nick Pateras earlier this month.
According to a study by Prohibition Partners, Germany imported 3,264 kilograms of medical cannabis flower in the fourth quarter of 2020 alone, for a total of 9,249 kilograms for the entire year. That fourth quarter import amount is the largest single-quarter import of medical cannabis flower in Germany to date.
Suppliers are able to place large volumes in Germany. In 2019, the German federal government disclosed that it had placed a purchase order for 650 kilograms of medical cannabis flower from domestic producers for €1.5 million per quarter.
This reflected a very low approximate price of €2.3 per gram, as the German government’s competitive tender process highly incentivises low prices from any interested producers, but is spending large sums on medical cannabis.
The problem for medical cannabis producers, however, is that other…
