IM Cannabis (IMCC.C) announced its first shipment from its EU-GMP supply partner into Germany yesterday, as well as their three new distribution agreements penned by Adjupharm GmbH, it’s German subsidiary.
IM Cannabis is a multinational operator dealing in medical cannabis in Israel and across Europe. The three new agreements bring their total number of distributors for its network in Germany to ten.
“The German market is growing rapidly and we have executed on building an excellent foundation to distribute our proprietary products across the highly fragmented pharmacy channel. As we scale imports from our EU-GMP supply partners, we will continue to add new products and new formats for the German medical cannabis market to establish IMC as the favoured brand known for consistency and quality. Our vision for leadership in global medical cannabis is progressing well and we are on the right path to achieve this goal through a network of trusted partnerships that drive product volumes, brand recognition and shareholder value in the long-term,” said Oren Shuster, CEO of IMC.
IMC’s first commercial shipment of medical cannabis into Germany has been cleared by the regulator and been delivered, fulfilling their commitments with ten distribution partners in Germany. These products will land on shelves under the IMC brand.
The three new distribution agreements all include binding purchase commitments, and introduce the following distributors to IMC’s network:
- Cansativa GmbH (“Cansativa”) – Cansativa was founded in 2017 and, through two EU-GMP and EU-GDP licensed facilities in Germany, it has sold over 50,000 units of medical cannabis products;
- Ilios Sante GmbH (“Ilios”) – Founded in 2018, Ilios is a EU-GDP certified wholesaler and importer of narcotics and pharmaceuticals, focusing on cannabinoids as an alternative medicine; and
- Farmako GmbH (“Farmako”) – Farmako is a pharmaceutical wholesale based in Frankfurt. It was been distributing medical cannabis in Germany since March 2019 and is licensed to begin distribution operation in the U.K. Farmako is a subsidiary of AgraFlora Organics International (AGRA.C).
IMC’s purchase commitments include a sale of a total of 1,525kg of medical cannabis in Germany, of which 823 kg is anticipated to be delivered in 2020.