- Unique addition to Materia's portfolio capitalizes on extracts adoption and prepares for future extracts growth
- Will accelerate the expansion of Materia's distribution network across Germany, including new pharmacies that dispense extracts
LONDON, Aug. 17, 2021 /PRNewswire/ -- Materia, a leading processor and distributor of medical cannabis and CBD wellness products across Europe, is pleased to announce that its wholly-owned subsidiary Materia Deutschland GmbH ("Materia Deutschland"), has entered into an agreement with German medical cannabis manufacturer Eurox Pharma GmbH ("Eurox Pharma"), becoming one of Eurox Pharma's selected distribution partners for its medical cannabis extracts.
The agreement represents a new line of products for Materia Deutschland's curated portfolio and complements its sales team's focus on expanding its national pharmacy network, including all pharmacies who currently dispense medical cannabis extracts.
Extracts are the fastest growing format in Germany's medical cannabis market, exhibiting approximately +62% sequential quarterly growth at the beginning of this year1. As at the end of 2020, medical cannabis extracts had been distributed across almost one-fifth of public German pharmacies.2
"We're proud to partner with a company as innovative as Eurox Pharma in advancing the German market. By pairing their extracts with our distribution expertise, we're confident this partnership will be a great success for both of us," said Sebastian Blöte, Managing Director, Germany of Materia Deutschland. "We know many pharmacies are asking for high quality extracts, so this supports our goal of rapidly broadening our customer base."
Dr. Bernhard Babel, CEO of Eurox Pharma, added, "All our Eurox-branded medicinal products are produced in a state-of-the-art German facility and adhere to the highest EU and German standards. Eurox provide the highest quality product whilst maintaining uncompromising safety standards to ensure a stable supply and full control of our entire supply chain - from selecting the plant material to manufacturing and distribution. To that end, we most carefully select our partners, and we are therefore very pleased to announce our distribution partnership with Materia."
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1 | GKV-Spitzenverband, Q1/21 vs. Q4/20. |
2 | Insight Health Market Report. |
About Materia
Materia is a leading independent processor and distributor of medical cannabis and CBD wellness products. Materia has developed a robust EU-GMP manufacturing and distribution ecosystem to grow the legal cannabinoid market across Europe. With its research-driven team and regulatory expertise, Materia focuses on the high-margin downstream activities of processing, formulation and distribution into markets wherever there is a patient in need of cannabis medicine or CBD consumers seeking innovative new products.
For more information on Materia, please visit https://materia.global
About Eurox Pharma GmbH
Eurox has an exclusive, long-term contract and manufacturing agreement for medical cannabis products with Dr. Reckeweg & Co. GmbH ("Dr Reckeweg"), an EU GMP certified German pharmaceutical company with 75+ years of experience of manufacturing plant-based medicinal products. Eurox Group has fully owned German subsidiaries responsible for product development, holding IP and commercial relationships.
Outside Germany, Eurox Group holds the following assets:
- A fully-owned Portuguese subsidiary: Eurox Portugal is currently building its cultivation facility to secure vertical integration and long-term supply independence.
- A significant minority ownership of Integro Medical Clinics, a London Care Quality Commission (CQC) registered medical cannabis clinic.
For more information on Eurox, please visit https://www.eurox-pharma.com
CONTACT: Deepak Anand, CEO, Email: investors@materiaventures.com, Website: http://www.materia.global/
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