- Australian pharmaceutical company Althea Group (AGH) has signed a supply and distribution agreement with Nimbus Health to sell its medicinal cannabis in Germany
- Nimbus is a pharmaceutical wholesaler with approximately 25 per cent of the market share across medicinal cannabis sales in Germany
- Under the three-year agreement, Nimbus will sell and distribute Althea’s medicinal cannabis range
- The company is anticipating the first shipment of medicinal cannabis to arrive in Germany in the second half of this year
- Althea is up 5.13 per cent on the market this morning, trading for 41¢ each
Australian pharmaceutical company Althea Group (AGH) has signed a supply and distribution agreement with Nimbus Health to sell its medicinal cannabis in Germany.
Nimbus is a pharmaceutical wholesaler with approximately 25 per cent of the market share across medicinal cannabis sales in Germany.
Althea is a supplier of medicinal cannabis. It also offers a range of education, access and management services to support eligible patients and healthcare professionals.
Under the three-year agreement, Nimbus will sell and distribute Althea’s full suite of medicinal cannabis, under Althea’s brand name in Germany. Althea will receive payment for products supplied by Nimbus, along with 50 per cent of the net profit sales.
The company is anticipating the first shipment of medicinal cannabis to arrive in Germany in the second half of this year.
“Althea believes that it is ideally positioned to become the market-leading medicinal cannabis brand in Germany,” the company said.
“With a population of 82.3 million and a favourable regulatory environment, German’s medicinal cannabis market is one of the largest in Europe,” it added.
Althea is up 5.13 per cent on the market this morning, trading for 41¢ each at 10:13 am AEST.