Following the coalition agreement, Cannovum AG will enter into the recreational cannabis market. The present offer in the field of medical cannabis will be maintained and further expanded.
Berlin, 25th November 2021. The coalition agreement of the future German government presented yesterday confirmed the legalization of recreational cannabis for adult use. The management board of Cannovum AG has thereafter decided to enter this market. The present offer in the field of medical cannabis will be maintained and further expanded.
Although details of the implementation are not yet known, Cannovum AG welcomes the intended responsible legalization as an acknowledgement of social reality. There is now an opportunity to form a responsible cannabis legalization with effective youth and consumer protection. Part of this is to learn from the pharmaceutical cannabis market in setting up the regulatory framework to offer consumers safe, high-quality cannabis and to protect them from qualities that can be hazardous to their health.
"We will do our part to provide the German market with high-quality cannabis. In doing so, we can draw on our extensive experience with medical cannabis and will also offer products of the highest quality for recreational use under our Cannovum brand," said Pia Marten, CEO of Cannovum AG.
The German medical cannabis market is already the key market in Europe due to high patient numbers and regulatory standards. Germany is therefore in a strong position to lead the way in Europe. Cannovum expects Germany to send a signal to other countries for legalization by opening the market for recreational cannabis.
Linda Rasch, IR & PR, Cannovum AG
Phone +49 30 3982 163 62, firstname.lastname@example.org
Cannovum AG is the first German listed medical cannabis company. The shares are traded on the Düsseldorf, Munich, Berlin, Hamburg and gettex stock exchanges. Through its subsidiary Cannovum Health eG, Cannovum is a fully licensed pharmaceutical wholesaler, importer and manufacturer of high-quality medical cannabis products based in Berlin. The company focuses on the import of high- quality cannabinoid products, medical-scientific education and all-encompassing distribution for simplified and facilitated access to cannabis-based therapies.
This is an extension of the wholesale permit and allows the trade of active ingredients. One of the main active ingredients of cannabis is THC, which is considered to have the greatest pharmaceutical potential and therapeutic efficacy.
Priv. Doz. Dr. med. habil. Philipp Sewerin is the new member of the supervisory board as well as the Medical Advisory Board. Dr. Sewerin is a specialist in internal medicine and rheumatology at the university clinic in Düsseldorf.
Cannovum took the first step and founded Cannovum Iberia LDA, a joint venture between Cannovum and Portuguese entrepreneurs from the cannabis industry.