Blazing the Trail to European Exports: Panaxia Israel Announces Receipt of EU-GMP Certification, Required for the Manufacture and European Export of Medical Cannabis and Advanced Products

June 11, 2020 | Yahoo Finance

Dr. Dadi Segal, CEO of Panaxia Global, said, “Receiving EU-GMP certification is a defining moment for us and for the medical cannabis industry in Israel as a whole. We are proud to be the first and only medical cannabis company in Israel to have broad EU-GMP certification from a European agency, which enables commercial export of raw materials as well as oils and additional products to Europe. It is a certification with tremendous strategic importance that moves Panaxia and the State of Israel another step forward towards exporting medical cannabis. EU-GMP certification enables us to accelerate completion of the process for regulatory registration of Panaxia products and brands in Germany, Denmark and other target countries in the European Union and brings us closer than ever to commercialization and sales jointly with our strategic partners who are the leaders in these markets, Neuraxpharm in Germany and STENOCARE in Denmark. Furthermore, the certification makes Panaxia the sole gateway to Europe today for Israeli cannabis growers who want to export their cannabis brands.”

Pharmaceutical company, Panaxia Labs Israel Ltd. (“Panaxia Israel”) (TASE: PNAX), Israel’s largest manufacturer of medical cannabis products, today announced that it has received official EU-GMP certification. This certification is necessary for the manufacture, export, and marketing of pharmaceuticals within the European Union (EU), and it applies to medical cannabis products, which are defined in the EU as pharmaceutical products requiring a prescription. Panaxia is the first and only medical cannabis company in Israel to have been awarded EU-GMP certification from a European health authority, making the commercial manufacture, export and sale of a variety of oils and medical cannabis extracts possible. As a result, Panaxia is joining the top tier of a select few international medical cannabis companies that have been recognized with this prestigious certification.

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