Immediate access to German medical cannabis market
LONDON–(BUSINESS WIRE)–EMMAC Life Sciences Ltd (“EMMAC” or the “Company”), the European
independent medical cannabis company, announces that it has entered the
German medical cannabis market through the incorporation of About Nature
Health GmbH (“About Nature”), a wholly owned subsidiary of the Company,
which will lead the marketing and licensing process for EMMAC in
Germany. Working in conjunction with Medalchemy, EMMAC’s fully-licensed
GMP certified laboratory and research and development facility in Spain,
About Nature has entered into a supply agreement (the “Agreement”) with
CC Pharma GmbH (“CC Pharma”), a leading importer and distributor of
EU-pharmaceuticals for the German market.
The Agreement allows EMMAC to import high-quality dried cannabis flowers
and oils into the rapidly expanding German market, which is the largest
medical cannabis market in Europe. According to the Bank of Montreal1,
the German medical cannabis market could potentially produce more than
US$5 billion in revenue for global cannabis producers, with an
assumption that in seven years, 7.5% of sleep, anxiety and pain
prescriptions in Germany will be replaced with medical cannabis.
Antonio Costanzo, CEO of EMMAC, commented: “The decision by CC
Pharma to distribute EMMAC medical cannabis product in Germany validates
our commitment to delivering the highest quality product and we are
delighted to announce the Agreement today. Germany is an important
market for EMMAC and we are committed to growing our regional presence,
led by general manager, Florian Witt, to ensure that we capitalise on
the significant commercial opportunity.
“EMMAC has had a positive start to 2019 and our entry into the German
market is the latest significant milestone for the Group. Our tie-up
with CC Pharma is a clear demonstration of the significant progress
being made at EMMAC and is complementary to the acquisitions completed
and key milestones achieved in 2019 in the UK, Malta, Spain and
Switzerland. I look forward to updating our stakeholders as we continue
to execute on our vision to become the leading European medical cannabis
company.”
About EMMAC
EMMAC is the European independent medical cannabis company, working to
join together the latest science and research with cutting-edge
cultivation, extraction and production. With supply and distribution
partnerships throughout Europe, EMMAC is working to establish itself as
both a thought leader in the industry, as well as the European leader in
the production and supply of medical cannabis, hemp and other derivative
products.
About CC Pharma GmbH
CC Pharma is a leading importer and distributor of EU-pharmaceuticals
for the German market and distributes products to over 13,000 German
pharmacies. Founded in 1999, today it has over 230 employees and offices
in Germany, Denmark, and the Czech Republic. CC Pharma holds more than
1,800 pharmaceutical licenses and also operates a production,
repackaging and labeling facility at its headquarters in Densborn,
Germany. During 2018, CC Pharma generated revenue of approximately €262
million, with EBITDA of approximately €10.5 million.
CAUTIONARY STATEMENT
All statements, other than statements of historical fact, in this
news release are forward-looking statements that involve various risks
and uncertainties, including, without limitation, statements regarding
potential values, the future plans and objectives of EMMAC Life Sciences
Ltd. There can be no assurance that such statements will prove to be
accurate, achievable or recognisable in the near term.
Actual results and future events could differ materially from those
anticipated in such statements. These and all subsequent written and
oral forward-looking statements are based on the estimates and opinions
of management on the dates they are made and are expressly qualified in
their entirety by this notice. EMMAC Life Sciences Ltd assumes no
obligation to update forward-looking statements should circumstances or
management’s estimates or opinions change.
Contacts
Scientific enquiries
research@emmac.com
General
enquiries
info@emmac.com
www.emmac.com
Media
enquiries
Buchanan
Henry Harrison-Topham / Jamie
Hooper / Catriona Flint
Tel: +44 (0) 20 7466 5000
emmac@buchanan.uk.com
www.buchanan.uk.com