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A company is ready to give its cannabis to France free of charge for testing

Panaxia, an Israeli company wants to market medical cannabis in France and is ready to give it away for free

Panaxia has reported this week that as part of its collaboration with the pharmaceutical company Neuraxpharm, a request was made to the French government to participate in the experimentation of medical cannabis planned in this country for 2021.

Israeli company Panaxia settles in the US

Panaxia and Neuraxpharm extend their strategic collaboration to France with medical cannabis

Israeli cannabis company Panaxia Pharmaceutical Industries Ltd. had announced have received official EU-GMP certification allowing it to export medical marijuana to EU member countries. Today, Panaxia Global extends its strategic collaboration on the French market by signing a binding memorandum of understanding between Panaxia and its subsidiary Neuraxpharm France for the manufacture, marketing and distribution of medical cannabis products in France, including exclusivity for Panaxia products.

As part of the pilot in France, 5 or 6 companies will be selected which will provide free from cannabis à 3 patients for two years. If the project is successful, French authorities will consider issuing a permit for the commercial sale of medicinal cannabis products.

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There is a good chance that this announcement will not be meaningful, as the initiative is at a very early stage and there is no certainty that the company's request to participate in the pilot will be approved, nor any certainty that the pilot project will be successful and even then there is no certainty that the license to sell medical cannabis products will be accepted.

Why would a cannabis company even want to market cannabis for free for two years with no promise of profit in the end? This can be a decision that is more for public relations purposes, at least for some companies.

The commercial collaboration between the parties is based on a model similar to that in Germany: Panaxia will be responsible for the manufacture of the products it has developed according to strict clinical standards, such as oils and tablets based on medical cannabis, in accordance with the European guidelines for good manufacturing practices (EU-GMP), and Neuraxpharm will be responsible for marketing, branding, distribution and sale of products to doctors, patients and pharmacies in France.

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At the end of the pilot project, the French government will decide on a license to use and sell medical cannabis products in France. Subject to ANSM approval, Panaxia, which is currently the only Israeli company certified EU-GMP from a European agency for the production and export of medical cannabis according to European and international standards, will seek regulatory approval. to the French authorities for the marketing and distribution of products.


Tags : exportFranceIsraelMedical
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