Join our daily newsletter At The Bell to receive exclusive market insights
- Little Green Pharma (LGP) signs five-year agreement to distribute its cannabis medicines into Poland
- A subsidiary of what is regarded as Poland’s largest healthcare operator will hold exclusive distribution rights for LGP’s medicinal cannabis oil and THC flower products
- Broadly, LGP said the distribution partnership represents another “key plank” in expanding its European sales platform
- Little Green Pharma shares closed today’s session up 2.33 per cent to trade at 66 cents.
Little Green Pharma (LGP) has inked a five-year agreement to distribute LGP’s cannabis medicines into Poland.
Under the deal, Little Green Pharma is set to supply Pelion SA subsidiary Medezin with its medicinal cannabis oil and high THC flower products for distribution into the country.
Pelion SA is regarded as the largest operator in the Polish and Lithuanian healthcare sector and touts an annual revenue of zł10 billion (approximately A$3.5 billion).
Medezin will hold exclusive rights to distribute LGP medicinal cannabis products — subject to meeting certain sales hurdles — and is targeting sales of at least 20 per cent of the Polish medicinal cannabis oil market and at least 10 per cent of the Polish high-THC medicinal cannabis flower market.
According to LGP, the financial value of the agreement will be subject to final order numbers under the agreement, which in turn are subject to the minimum order requirement.
Broadly, LGP said the distribution partnership represents another “key plank” in expanding its European sales platform.
LGP Managing Director Fleta Solomon said the company was pleased to be partnering with Medezin.
“Our distribution agreement with Medezin reflects LGP’s strategic ambition to
acquire and maintain a substantial share of the Total Addressable Market in
each jurisdiction we supply,” she said.
Little Green Pharma shares closed today’s session up 2.33 per cent to trade at 66 cents.
