The year 2023 proved to be remarkably successful for SOMAÍ Pharmaceuticals. After one year of opening the facility, we received an EU-GMP certification, which allows us to manufacture, import, and export medicinal cannabis products to numerous global markets.
Currently, our facility has the most extensive capabilities in medical cannabis manufacturing, including flower extraction, purification, automated oral drops and spray lines, full soft get caps production with blister packaging, and every form of vape oil cartridges. Our better-tasting products will also be complemented with proprietary terpene taste profiles that will innovate already innovating lines, And soon, we will be releasing full lines of our newest products that are going into stability. We are crafting products for today, tomorrow, and beyond with unparalleled knowledge of how to make what patients want.
December
In December, SOMAÍ Pharmaceuticals entered the German market with two largest extract partnerships in the entire EU, securing €15 million in deals.
Firstly, SOMAÍ partnered withcanymed GmbH, a pharmaceutical wholesaler in Germany, to distribute its high-quality cannabinoid-based pharmaceutical products. Thetwo-year collaborationaims to meet the growing demand for innovative healthcare solutions.
SOMAÍ Pharmaceuticals also entered a partnership withGrünhorntocreate an exclusive co-branded cannabinoid-based pharmaceutical product linein Germany. The line includes THC/CBD ratios such as 25:1, 10:10, and 50:1 and is designed to offer patients a unique range of medicinal cannabis options that cater to their individual needs. These strategic partnerships resulted in a 10 million euro contract, highlighting SOMAÍ Pharmaceuticals’ impact in Germany. The financial commitment reflects mutual goals.
SOMAÍ Pharmaceuticals has signed athree-year marketing and distribution agreementwithCanify AG. The co-branded SOMAÍ-Canify product line features various ratios of THC/CBD full-spectrum purified oral solutions derived from a single-strain indica non-irradiated premium cultivar. This partnership is set to generate an estimated revenue of five million euros. The products will be available for prescription through Canify’s unique distribution platform, specifically designed for the German market.
SOMAÍ is thrilled topartner with the UK’s large-scale medical cannabis study, T21(formerly Project TWENTY21) byDrug Science. As a partner, SOMAÍ Pharmaceuticals will help ensure the project’s future, enabling patients to continue receiving discounted medications and allowing scientists to collect vital health data on these drugs and their effects. As part of our partnership, we will expand T21’s formulary by including additional cannabis-based medicines, providing greater options to patients participating in the study.
SOMAÍ has obtained the necessary licenses to import and distribute our products in Australia. We received our Victorian Government Department of Health and Human Services Wholesale by Indent License, which permits us to sell or supply unapproved medicinal cannabis medications directly to pharmacies and healthcare providers through the TGA Special Access Scheme. This license allows us to distribute our products nationwide without additional state-based licenses. We are also actively pursuing further licenses from Queensland Health and the federal government for import and export. While these applications are pending approval, we remain dedicated to overcoming regulatory hurdles to ensure seamless access to our cutting-edge pharmaceuticals. We are committed to improving patients’ lives in Australia and working closely with the healthcare community to develop medical solutions that make a difference.
2024
As we enter the new year, we are excited for the largest medical cannabis product launch in global cannabis history with the biggest partners in each country. In 2024, our products will be obtainable in the Australian, German, UK, and Polish markets. Our primary objective is to advance pharmaceutical research, offer exceptional products, and establish robust partnerships. This will be a significant year for SOMAÍ Pharmaceuticals and the medical cannabis industry. SOMAÍ will be making multiple announcements throughout January, so please stay tuned for further updates.
