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Adds highly anticipated Aphria-branded dried flower and dronabinol to its curated medical cannabis portfolio in Germany
Materia will distribute the products across its existing national pharmacy network, as well as into new pharmacy customers
LONDON, Feb. 23, 2021 /CNW/ - Materia, a medical cannabis and wellness company focused on the European market, is pleased to announce that its wholly-owned subsidiary Materia Deutschland GmbH ("Materia Deutschland"), is expanding its portfolio of medical cannabis products being offered to pharmacies across Germany.
Materia Deutschland has entered into a commercial supply agreement with CC Pharma GmbH ("CC Pharma"), a wholly owned subsidiary of Aphria Inc., to distribute its high quality, Aphria-branded flower products across Materia Deutschland's pharmacy network throughout Germany. Under the terms of this agreement, CC Pharma will import and batch release the products, with Materia Deutschland taking responsibility for pharmacy sales and fulfillment.
Separately, Materia Deutschland has also entered into an agreement with an EU-GMP certified supplier of dronabinol, a pure THC API that accounts for approximately 35% of all publicly reimbursed medical cannabis prescriptions in Germany1, including finished pharmaceuticals.
"We have been intentionally selective in growing our portfolio, to ensure that new products will satisfy patients' evolving needs and bear the highest standards of quality," said Sebastian Blöte, Managing Director, Germany, of Materia Deutschland. "We are proud to work with partners who share our unwavering commitment to patient care and an enhanced societal understanding of cannabis' medical potential."
The addition of Aphria flower and dronabinol will bolster Materia Deutschland's offering to customers and accelerate its growth potential in the German market. Materia has already commenced sales of dronabinol, while sales of Aphria-branded products to pharmacies will begin in the coming weeks.
Materia's vision is to be the enabler of global cannabis access. Materia is developing a robust pharmaceutical manufacturing and distribution ecosystem to grow the legal cannabinoid market across Europe. With its research-driven team and regulatory expertise, Materia focuses on the high-margin downstream activities of processing, formulation and distribution into markets wherever there is a patient in need of cannabis medicine or CBD consumers seeking innovative new products.
All statements, other than statements of historical fact, in this news release are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance are not statements of historical fact and may be forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors that may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and legal uncertainties; access to financing; the delay or failure to receive regulatory approvals; and other factors. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Materia does assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.
SOURCE Materia Ventures
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