Israeli medical cannabis giant Panaxia said in a statement Wednesday that it has become the first company to receive regulatory approval to market an inhalable cannabis solution in Europe – in Germany, specifically – with its strategic partner, the company. German pharmaceutical Neuraxpharm.
According to a market trend analysis in 2018-2019, inhalable cannabis vaporizer solutions are the most popular medical cannabis product in the United States, accounting for over 50% of the market.

Additionally, inhaling medical cannabis through a vaporizer is often considered a healthier form of consumption compared to smoking, due to reduced damage to the mouth, throat and lungs.

The approval allows Neuraxpharm to import Panaxia’s products, distribute them to pharmacies and market them to physicians licensed to dispense prescriptions for medical cannabis products to patients for a wide range of medical conditions, such as chronic pain, spasticity, anorexia, depression and more.

In addition, as part of the strategic collaboration with Neuraxpharm, applications will subsequently be submitted for the registration and commercialization of other advanced products developed by Panaxia, including cannabis capsules.

Panaxia is the only company in Israel with EU-GMP approval from the European Health Authority, which allows the export of all types of medical cannabis products to most European countries. They have so far used their special approval status to set up export deals in Germany, France, Cyprus and Australia – leading the company to expand at a time when many others companies have experienced difficulties.

The company claims that at present, the Israeli Ministry of Health still does not allow the export of cannabis products from Israel for inhalation. Therefore, as long as this position does not change in the coming months, the company will have to manufacture the products outside Israel and export them to Germany from another country.

The company is currently exploring options for exporting the products through the controlling owner’s factory in Malta, or alternatively from other countries, in order to prepare for the launch and first sales in Germany of these products in the second half of 2021. , along with the application for an export permit from the Ministry of Health.

Dr Dadi Segal, Founder and CEO of Panaxia, said in a statement that “We are delighted to be the first and only company in Europe to receive marketing authorization for inhaled medical cannabis extracts.”

“This is an unprecedented commercial and regulatory achievement, and an important line for patients in Germany, who will, for the first time, be able to consume a clean product without harmful by-products and combustion products associated with smoking of medical cannabis flowers, especially when combined with tobacco, ”he said.

“We look forward to making our quality inhalable extracts accessible to patients in other European countries as well and are working to register them through the appropriate regulatory channels,” Segal said.

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