Germany’s growing medical cannabis extract market attracts competition

Germany’s market for medical cannabis extracts has shown meaningful growth this year, according to the latest reimbursement data available, and the gains have attracted new brands and products.

While the number of flower prescriptions covered by statutory health insurance decreased 5% from the first to second quarter of 2020, extracts prescriptions – including both full-spectrum and isolated cannabinoids – increased 15% in the same period.

The latest company to add a product to this category is Cologne, Germany-based Cannamedical Pharma, which started sales of an oil with a high concentration of both THC and CBD, Marijuana Business Daily has learned.

The product has a concentration of 25 milligrams of THC and 25 milligrams of CBD per milliliter. It is sold in 25 milliliter bottles.

It is believed to be among the products with the highest cannabinoid concentration on the market.

Though competition in this segment is growing, the market for flower still offers more brands and products.

David Henn, managing director of Cannamedical, told MJBizDaily that, with this new product, “we have successfully extended our product family, adding full-spectrum extracts to our portfolio that already included CBD isolate and flower.”

Asked about the origin of the extract, Henn said it is produced in and imported from a European Union country.

Henn would not disclose the manufacturer’s name.

Cannamedical is the latest company to secure supply from inside the EU instead of importing it from outside Europe.