A Canadian medical marijuana company secured a deal with Germany’s CC Pharma GmbH to export MMJ products for distribution through thousands of German pharmacies.
Nuuvera Inc. – which has a strategic partnership with Aphria (TSE: APH) to build a 1-million-square-foot greenhouse – will supply approximately 1,200 kilograms of medical cannabis to CC Pharma, which distributes pharmaceuticals to over 13,000 pharmacies.
Financial terms were not disclosed.
Nuuvera, based in Toronto and traded on the TSX Venture Exchange as NUU, is in the application stage to be a licensed producer.
Canadian medical marijuana will ultimately be available in most of Germany’s 20,200 pharmacies, thanks to notable deals reached in the past year.
- Cronos Group (TSXV: MJN) signed an exclusive five-year distribution agreement in October with pharmaceutical supplier G. Pohl-Boskamp, giving the Canadian medical marijuana producer access to over 12,000 pharmacies in Germany.
- Two days earlier, British Columbia-based Tilray struck a partnership with leading German pharmaceutical wholesaler NOWEDA to gain access to its network of 16,000 pharmacies.
Some Canadian companies – including Aurora Cannabis and Canopy Growth – have pursued the acquisition route to gain a toehold in Germany, the world’s largest MMJ market. The country doesn’t yet have any domestic producers.