The licensing allows the private firm to join a select few companies that can produce and distribute medical cannabis throughout Europe
International private firm Materia Ventures can now produce and distribute its medical cannabis products throughout Europe.
On Thursday the company said its wholly-owned subsidiary Materia Malta Operating Ltd. has received European Union Good Manufacturing Practices certification from the Malta Medicines Authority for its 34,000 square-foot facility in the Mediterranean archipelago nation.
The licensing is a significant milestone for Materia, as it allows the company to shift up the supply chain from distribution to production.
There are a number of distributors in Germany — which is home to the E.U.’s largest regulated medical cannabis market — but only a few manufacturers, explains CEO Deepak Anand.
“So there isn’t that a broad variety of products,” he tells Mugglehead in a phone interview. “The purpose of [the certification] is it allows us to bring in product from a variety of other countries that are GMP-compliant, but not certified.”
In the immediate term, the deal allows Materia to bring products in from cannabis companies that might not be GMP-certified, to repackage them in their Maltese facility and distribute them in Europe.
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