- Little Green Pharma (LGP) has become the first Australian company to send medicinal cannabis oils to Germany
- The company has exported 2400 oils, valued at $600,000, to German pharmaceutical importer CC Pharma
- The shipment is expected to clear German customs next week, then the oils will complete a batch testing before being sold in the country
- Germany is the third-largest medicinal cannabis market globally — behind the U.S. and Canada — and is the largest market in Europe.
- On the market this afternoon, Little Green is up 8.57 per cent and trading for 38 cents per share
Little Green Pharma (LGP) is the first company to export Australian medicinal cannabis oils to Germany.
The company has sent an initial 2400 units, valued at $600,000, of its cannabis oils to German pharmaceutical importer CC Pharma. The shipment is expected to clear customs next week.
Once they arrive, the oils will be batch-tested and released for sale on the German market.
Germany is the third-largest medicinal cannabis market globally — behind the U.S. and Canada — and is the largest market in Europe.
Managing Director Fleta Solomon is pleased to supply CC Pharma with the medicinal cannabis oils.
“The demand for Little Green products signifies not only a vote of confidence in the company, but also in the ability of Australia’s homegrown medicinal cannabis industry to compete with major international medicinal cannabis companies to supply the German market,” she said.
“With our expanded cultivation and manufacturing facility, Little Green is well placed to ensure consistent supply to both Australia and offshore markets in the future,” she added.
Earlier this month, the company entered a strategic partnership with private health insurer HIF. Under the deal, HIF will issue a $105 rebate per script to eligible members for medicinal cannabis products.
On the market this afternoon, Little Green is up 8.57 per cent and trading for 38 cents per share at 12:14 pm AEDT.