First distribution agreement for Israeli medical cannabis products in Danish market: Panaxia Israel will distribute and sell pharmaceutical cannabis products through STENOCARE, the largest distributor of medical cannabis stock in Denmark

March 12, 2020 | Yahoo Finance

Dr. Dadi Segal , CEO of Panaxia Israel: “Entering the Danish market, where regulation is among the most stringent in Europe , provides us with a standard that will allow entry into further European markets. We see Denmark as our entry gate into Scandinavian countries, and we look forward to helping thousands of patients in this important market. We are making progress towards the establishment of additional distribution agreements in our European target countries as we complete the registration processes in these countries.”

TEL AVIV, Israel , March 12, 2020 /CNW/ — Pharmaceutical company Panaxia Labs Israel Ltd. (Panaxia Israel, TASE: PNAX), the largest manufacturer of medical cannabis products in Israel , announced today its agreement with STENOCARE (STENOCARE, FRA:STENO), the largest distributor of medical cannabis stock in Denmark , to distribute and market Panaxia medical cannabis products in the Danish market.

The 5-year agreement stipulates that STENOCARE, distributor of medical cannabis stock to approximately 70% of the Danish market, will distribute, market, and sell Panaxia’s products to authorized Danish pharmacies. A non-competition clause sets exclusivity of certain Panaxia products in the STENOCARE portfolio in this market. The agreement also stipulates distribution and public awareness campaigns concerning Panaxia cannabis products among relevant medical professionals. The partners are exploring additional potential collaboration in other European countries in which STENOCARE operates.

Read More On: Yahoo Finance Website

Share on linkedin
Share on facebook
Share on twitter