Panaxia and Neuraxpharm To Exclusively Distribute Medical Cannabis Extracts For Inhalation In European Market

Israel's largest manufacturer and home-delivery distributor of medical cannabis products, Panaxia Labs Israel Ltd., and its German partner Neuraxpharm received the green light to market and distribute medical cannabis extracts for inhalation, making them the first to exclusively sell this type of product in Europe.

The marketing permit issued by German authorities allows Panaxia's strategic partner, Neuraxpharm, to import products and then distribute them to pharmacies and market to physicians.

Dr. Dadi Segal, founder and CEO of Panaxia Israel, said Monday that they are thrilled to be the "first and exclusive" company in Europe to obtain the marketing permit.

"This is an unprecedented commercial and regulatory achievement and significant news for patients in Germany, who will now be able to consume, for the first time, a clean product," Segal said.

"The cannabis-based extracts contain only active ingredients, without by-products and harmful combustion products, that accompany smoking medical cannabis products, with or without tobacco. It is similar to other mature markets such as the US and Canada, in which inhalation extracts market segment is currently over 50 percent of the market and is still expanding," Segal added.

Being the most in-demand and consumed medical cannabis products, inhaled medical cannabis extracts have a market share of more than 50% of the US medical cannabis market, as per market research.

Under the joint brand Naxiva-Panaxol, the inhalation extract will be manufactured by Panaxia following EU-GMP standards and available in Germany later this year.

According to the companies, which partnered last year to bring cannabis products to Germany, they also have a regulatory permit for the marketing of medical cannabis tablets in France and medical cannabis oils in both France and Germany.

Photo by Jamie Edwards on Unsplash