Australian medical cannabis firm targets Balkans

A medical cannabis company in Perth, Australia, has signed a distribution agreement with a Slovenian company to expand the MMJ market in Europe.

Under the deal, Australia-based MGC Pharmaceuticals will grow and process cannabis at its cultivation and extraction sites in Europe and then wholesale the products to Mikro+Polo, according to the Business News of Western Australia. In turn, Mikro – based in Maribor, Slovenia – will distribute MGC’s medical cannabis products in Slovenia, Croatia and Bosnia. All three Balkan nations were once part of the former Yugoslavia.

According to the business publication, MGC will wholesale the MMJ products to Mikro based on prevailing market prices, which are currently about 60 euros ($67) per gram.

Earlier this month, MGC was awarded a European license to grow cannabis in Slovenia, the Business News reported.

Slovenia legalized medical marijuana in 2014 and Croatia followed suit in 2015. Bosnia established a task force in 2016 to study medical cannabis legalization.

Daily News | Briefs | Medical Cannabis Business & Marijuana Legal News in Other Regions

Leave a Reply

Your email address will not be published. Required fields are marked *

Please note: Comments are moderated by our editors who do their best to approve comments ASAP. As Marijuana Business Daily is focused on business, we approve comments that are specifically relevant to industry professionals. General opinions and questions about cannabis may not be posted.