Khiron Life Sciences (TSXV: KHRN) has signed a German distribution deal with that of Nimbus Health for its medical cannabis products. Nimbus is a leading distributor of medical cannabis products within Germany.
Under the terms of the arrangement, Khiron will see the first import and sale of its branded EU GMP medical cannabis products within the third quarter of 2020. The product will be available for prescription by doctors, which will then be dispensed by pharmacies within Nimbus’ network.
Medical education and marketing activities for Khiron’s products within the German marketplace are to begin imminently, as a means of building demand prior to the official launch of the first sales within the country. The size of the first shipment to the nation was not disclosed.
“This is a major milestone for our company. Following our recent entry into the United Kingdom, the expansion into Germany will greatly benefit patients who still suffer from inconsistent supply. Khiron is now well positioned to service this rapidly expanding market in Germany.”
Tejinder Virk, President of Khiron Europe
The German medical market is the largest medical cannabis market within Europe. The nation saw €123 million worth of medical cannabis sold in 2019, which was fully reimbursed patient prescriptions. Prohibition Partners currently projects the market to grow to €7.7 billion by 2028.
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Khiron Life Sciences last traded at $0.56 on the TSX Venture.
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