Eurox Group has begun the sale of its cannabis products in Germany, opening a new revenue stream for the company.
German-based, vertically integrated cannabis company, Eurox, a SEED Innovations Limited portfolio company, has started the white label sale of its dronabinol products to a number of select customers. The sales follow the distribution agreement of Eurox’s full-spectrum extracts to pharmacies during the previous quarter.
Ed McDermott, CEO of SEED, which has an 8.85% shareholding in Eurox, commented: “I am encouraged to see that Eurox continues making material progress, broadening revenue streams and generating sales in segments of the medical cannabis market with high-entry barriers.
“As we had anticipated would be the case, we are very excited to see Eurox continue to expand the availability and range of their medical cannabis range.”
Bernhard Babel, co-managing director of Eurox, added: “Our goal has always been to increase our portfolio of products so I am very proud to announce that we have successfully started dronabinol sales to high calibre corporate customers which will subsequently sell it to pharmacies.”
Eurox recently selected Materia Deutschland, a wholly-owned subsidiary of European medical cannabis and CBD wellness products Materia, as as a distribution partner for its medical cannabis extracts.
Dronabinol preparations have primarily used in pain therapy, and have been available under prescription in Germany since 1998.