A drug coming from the European market goes public

A Danish company, Stenocare, has just triggered a stock market rush as soon as its pharmaceutical products are announced

Investors rushed to buy Stenocare shares. The majority of them are motivated by their enthusiasm for the therapeutic benefits of its pharmaceutical products. This Danish company intends to supply the European and international market by the end of the year.

stenocare, pharmaceuticals, european market

The European market for medical cannabis is realized with Stenocare

Le StenoCare share price a Danish company nearly quadrupled last Friday with the announcement of marketing its pharmaceuticals. Indeed, investor interest in the stock seems overwhelming. We note a revaluation of the company Stenocare to more than 30 million dollars.

In addition, the European market for medicinal cannabis should grow to around 100 million this year. The experts are already establishing a forecast of at least 450 million for 2022. This will benefit from more flexible legislation in countries such asGermany, Great Britain,Italy and Denmark.

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Cannabis is attracting the interest of manufacturers of consumer products. Especially after Canada became the second country in the world, after Uruguay, to fully legalize cannabis. Canada's move helped increase the share of North American cannabis stocks like Tilray Inc (TLRY.O) and Cronos Group (CRON.O).

StenoCare, which currently imports cannabis from CannTrust of Canada, plans with its IPO to start its own production:

“Our ambition is to have our own products on the shelves next year. But the exact timing depends on the approval of the Danish Medicines Agency. - "Based on our communications with investors, we have the impression that many may have followed their hearts rather than their wallets." "

In addition, Denmark has legalized the medicinal use of cannabis. And it is also one of the few European countries to legalize local production. However, recreational use is still prohibited.

Tags : BusinessDenmarkEurope
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