Media Release by Little Green Pharma
Little Green Pharma Ltd is pleased to announce its wholly owned subsidiary, Little Green Pharma Denmark ApS, has entered into an agreement with Cannamedical® Pharma GmbH for the bulk supply of a high-THC strain into Germany.
The Agreement represents LGP’s fourth contract for the supply of medicinal cannabis into Germany and, together with Four20 Pharma, Illios Sante and Demecan, rounds out its wholesaling portfolio with the largest independent, own-brand medicinal cannabis distributor in Germany.
Under the Agreement, LGP will exclusively supply the Product to Cannamedical for sale in Germany subject to Cannamedical ordering specified minimum quantities every six months to maintain exclusivity. In addition, the Product pricing contemplates a THC adjustment for every percentage point the THC content is above or below 22%, and with the payment terms requiring the upfront payment of a portion of the purchase price upon delivery.
Material terms
- LGP will develop the Product meeting agreed THC specifications and Cannamedical requirements
- Final development of the Product is expected within two to six months, with first shipment expected sometime between January and June 2023 depending on final Product licensing requirements
- The Agreement is subject to a number of conditions precedent, including entry into a QA Agreement, inclusion of LGP on Cannamedical narcotics licence, irradiation licences in Germany, and a successful audit of LGP Denmark’s facilities; with the QA Agreement and Facility audit both well advanced and expected to be completed in the coming weeks
- All shipments are on FCAInco terms from LGP’s Danish facilities, with Cannamedical to arrange shipping and release in Germany
- The Agreement is a fixed priced contract with LGP entitled to refuse purchase orders for breach of payment terms or where otherwise reasonable
- LGP’s sole liability for failure to achieve microbiological levels, late delivery, or failure to deliver, is re-delivery of the relevant shipment
Cannamedical
Cannamedical is a German-based pharmaceutical pioneer with licenses to import medicinal cannabis into Germany and distribute and export it within the European Union. Established in 2016, the company received the research seal “Innovative through Research” from the Federal Ministry of Education and Research (BMBF) and the International Life Science Award 2022 in the category “Best Medical Cannabis Products Supplier 2022 – Germany” in Q3 2022.
Cannamedical has 25% of the German medical cannabis market, with the company’s exponential year-over-year growth underpinned by a unique boutique product portfolio, long-term partnerships with innovative and carefully selected manufacturers, and the ability to leverage in-house manufacturing infrastructure.
Since 2021, the company has been part of the Semdor Pharma Group – one of the leading specialty pharmaceutical groups in Europe specializing in narcotic and medicinal cannabis development, manufacturing, warehousing, and distribution.
