Through its acquisition of Pharmadrug Production, Khiron will have access to EU-GMP manufacturing capabilities and a distribution hub for medical cannabis.
Khiron has stated that the acquisition of Pharmadrug Production will provide the company with direct access to German pharmacies and increase in gross margins for its products.
It will also allow Khiron to accelerate the expansion of its medical product portfolio with additional exclusive flower varieties and a THC‑dominant full spectrum extract that combines the medicinal properties and areas of application of the established THC isolate formulations (dronabinol) with the specific advantages of a full-spectrum extract.
Read more: Khiron continues expansion into Spain after medical bill green light
President of Khiron Europe, Franziska Katterbach, stated: “We are very pleased that we have now received all the necessary permits and licenses in connection with the acquisition and integration of Pharmadrug Production and that we can continue our growth course in Europe on an expedited pace with full control over the value chain up to the pharmacy. We are very excited to take advantage of the Pharmadrug Production’s excellent infrastructure and experienced team, which will enrich us professional and personally.
“After opening our Zerenia clinic in London last year and now adding a powerful asset in Germany, our European force is complete and ready to ramp our sales in Germany.
“Now we expect to sell our products faster and at higher margins directly to German pharmacies, which will save distribution fees. A first signal in this direction is the imminent expansion of our medical portfolio for European patients.
“These are products manufactured exclusively in Europe, and our medical portfolio now covers the entire spectrum of chemotypes and forms of administration. We will provide more detailed information on our new products in a timely manner.”
The development is in line with the Khiron’s strategy to strengthen its foothold in Europe, having also recently welcomed Spain’s progression on the regulation of medical cannabis, stating it is looking forward to bringing its clinical expertise and evidence from Khiron-owned Zerenia Clinics to Spanish patients.
Khiron, which recently reported a record 2022 Q1 with revenue of $4.6m, has stated that additional new products are already in the pipeline, that will comprise the entire spectrum of therapies with medical cannabis to be able to offer the right therapy for every patient.
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