Europe’s Neuraxpharm, Israel’s Panaxia to sell medical cannabis in Germany

April 10, 2020 | Reuters

Specialty drugmaker Neuraxpharm has teamed up with Israel’s Panaxia Labs to market medical cannabis, saying it would be the first European pharmaceutical firm to include such products in its portfolio.

Neuraxpharm, which specializes in pharmaceutical products for the central nervous system (CNS), said together with Panaxia — one of Israel’s largest medical cannabis producers — it would manufacture and distribute advanced medical cannabis products in Germany, Europe’s largest and fastest-growing medical cannabis market. Financial terms were not disclosed.

Under the deal, Panaxia will manufacture the products while Neuraxpharm will handle branding, market penetration and distribution to all certified pharmacies in Germany. The collaboration includes a mutual option to consider expanding into other EU countries, the firms said in a statement.

Read More On: Reuters Website

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