Little Green Pharma Ltd’s (ASX: LGP) wholly owned subsidiary, Little Green Pharma Denmark ApS, has entered into an agreement with Cannamedical Pharma GmbH for the bulk supply of a high-THC strain into Germany.
The Agreement represents LGP’s fourth contract for the supply of medicinal cannabis into Germany and, together with Four20 Pharma, Illios Sante and Demecan, rounds out its wholesaling portfolio with the largest independent, own-brand medicinal cannabis distributor in Germany.
Under the Agreement, LGP will exclusively supply the Product to Cannamedical for sale in Germany subject to Cannamedical ordering specified minimum quantities every six months
Pricing contemplates a THC adjustment for every percentage point the THC content is above or below 22%, and with the payment terms requiring the upfront payment of a portion of the purchase price upon delivery.
Cannamedical
Cannamedical is a German-based pharmaceutical pioneer with licenses to import medicinal cannabis into Germany and distribute and export it within the European Union. Established in 2016, the company received the research seal “Innovative through Research” from the Federal Ministry of Education and Research (BMBF) and the International Life Science Award 2022 in the category “Best Medical Cannabis Products Supplier 2022 – Germany” in Q3 2022.
Cannamedical has 25% of the German medical cannabis market, with the company’s exponential year-over-year growth underpinned by a unique boutique product portfolio, long-term partnerships with innovative and carefully selected manufacturers, and the ability to leverage in-house manufacturing infrastructure.
Since 2021, the company has been part of the Semdor Pharma Group – one of the leading specialty pharmaceutical groups in Europe specializing in narcotic and medicinal cannabis development, manufacturing, warehousing, and distribution.