Medical Cannabis Company
Medical Discourse
+ 1.26%
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Reports that its raw materials will be marketed in Cyprus as part of the extracts and cannabis oils it will distribute
Panaxia Israel
-1.29%
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in the country. The two companies are promoting a joint venture to manufacture, export and market their products to European countries.
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For a discourse, Cyprus is the third country to which its raw materials are exported, coming after Germany and Australia. Following the report, Sheikh Medical shares are up 3% in trading.
Sheikh Medical holds an IMC-GAP approval for the multiplication and cultivation of medical cannabis, as well as the ISO9001 standard, and alongside marketing its products in Germany, Australia and soon in Cyprus it is in the process of penetrating the global market through subsidiaries, including the Netherlands and Greece. The controlling owner of the discourse (65%) is the Sarid family.
Earlier this month, Panaxia announced the first retail sales of its products to patients in Germany, under the Naxiva-Panaxol brand, which it and the European pharma giant Neuraxpharm have in common. At the same time, Panaxia reported that it had been selected by the Cypriot government to supply cannabis oils to patients in the country.
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