Panaxia is the first company in Europe to receive approval to export cannabis solutions

The Israeli medical cannabis giant Panaxia announced in a press release on Wednesday that it was the first company to receive regulatory approval to market an inhalable cannabis solution in Europe – more precisely in Germany – together with its strategic partner, the German pharmaceutical company Neuraxpharm. According to an analysis of market trends in 2018-2019, inhalable cannabis solutions for vaporizers are the most common medical cannabis product in the US, accounting for over 50% of the market.

In addition, inhaling medical cannabis through a vaporizer is often viewed as a healthier form of consumption than smoking because it does less harm to the mouth, throat, and lungs.

The approval allows Neuraxpharm to import Panaxia’s products, distribute them to pharmacies, and market them to doctors who are authorized to prescribe medicinal cannabis products to patients for a variety of medical indications such as chronic pain, spasticity, anorexia, depression and more.

In addition, as part of the strategic collaboration with Neuraxpharm, applications for the registration and marketing of further advanced products developed by Panaxia, including cannabis capsules, will be submitted later.

Panaxia is the only company in Israel with EU GMP approval from the European Health Authority, which allows the export of all types of medical cannabis products to most European countries. So far, they have used their special licensing status to conclude export contracts in Germany, France, Cyprus and Australia – leading to the company growing at a time when many other companies were struggling.

cnxps.cmd.push (function () {cnxps ({playerId: ’36af7c51-0caf-4741-9824-2c941fc6c17b’}). render (‘4c4d856e0e6f4e3d808bbc1715e132f6’);});

if (window.location.pathname.indexOf (“656089”)! = -1) {console.log (“hedva connatix”); document.getElementsByClassName (“divConnatix”)[0].style.display = “none”;}

The company says the Israeli Ministry of Health is not yet allowing cannabis products to be exported from Israel for inhalation. As long as this position does not change in the coming months, the company must therefore manufacture the products outside of Israel and export them to Germany from another country.

The company is currently examining options for exporting the products via the plant of the controlling owner in Malta or, alternatively, from other countries in order to prepare the introduction and first distribution of these products in Germany in the second half of 2021 parallel to the application for an export license from the Ministry of Health.

Dr. Dadi Segal, founder and CEO of Panaxia, said in a statement: “We are delighted to be the first and only company in Europe to receive marketing authorization for inhaled medical cannabis extracts.”

“This is an unprecedented commercial and regulatory achievement and a significant line for patients in Germany who for the first time can consume a clean product without the harmful by-products and combustion products particularly associated with smoking medicinal cannabis flowers when combined with tobacco “, he said.

“We look forward to making our high-quality inhalable extracts available to patients in other European countries and are working on registering them in the relevant approval pathways,” said Segal.

Source link

You May Also Like