IM Cannabis (IMCC.C) German subsidiary, Adjupharm GmbH, has received three medical cannabis purchase agreements for the next year from the axicorp Group, canymed GmbH, and Materia Deutchsland GmbH, according to a press release.

This makes a total of seven purchase agreements with German distributors and puts the total medical cannabis to be delivered at 1,525kg,

“The team at IMC continues to deliver exceptional execution in our core markets in 2020, first in Israel and now in Germany. We are planning for rapid growth in the German medical cannabis market and to be a consistent supplier to patients and physicians. We recognized early on that penetration across Germany would require a network of strong distribution partners complementing our direct sales efforts and we are very pleased with how quickly we have been able to secure these quality partnerships. Similar to our structure in Israel, we will continue to build our supply and distribution infrastructure as we seek to make IMC a leading brand in global medical cannabis,” said Oren Shuster, chief executive officer of IMC

The company entered these three sales agreements through their EU-GMP certified subsidiary, Adjupharm. The agreements with axicorp Group and canymed GmbH are for three years, and the agreement with Materia is for

Source: imcannabis.com

one. All three include binding purchase agreements. As stated above, IMC now has a total of 1,525kg of binding purchase agreements for medical cannabis through Adjupharm, 823kg is slated to be delivered in 2020. The medical cannabis to be sold in Germany will be fulfilled from their EU-GMP supply partner in Europe.

IMC previously announced six prior binding sales agreements with Focus Medical Herbs, which will distribute IMC-branded medical cannabis products in Israel. The total consolidated revenue for the six will be $193.5 million with an anticipated margin of 50%. In total, 33,075kg of medical cannabis will be delivered by the end of 2023, of which 3,000 will be on pharmacy shelves in 2020.

—Joseph Morton

Written By:

Joseph Morton

Joseph is a Vancouver-based author and journalist with both a communications degree and journalism diploma (and a few novels) under his belt. His joie de vivre is to spin difficult technical topics into more human-centric narratives. Buy him a coffee and he'll talk your ear off for hours about privacy issues, blockchain, cryptocurrency and martial arts. Don't talk to him if you're either a tomato, a bully, or if you're not a fan of either 1984 or Tender is the Night. No. You can still talk to him. Just be prepared to be told why you're wrong.

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Tags:
Cannabis
Adjupharm
axicorp Group
canymed GmbH
EU-GMP
European cannabis
European distribution
Focus Medical Herbs
IMC Cannabis
Materia Deutchsland GmbH
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