A Canadian company operating in Ħal Far aiming to produce medicinal cannabis locally and export it abroad has just obtained a key state license.
Materia Malta has received its Licence for the Production of Cannabis for Medicinal and Research Purposes from the Malta Medicines Authority. With this license, the company can begin producing and exporting medical cannabis to foreign markets like Germany after it received EU GMP certification back in May.
Materia’s Ħal Far facility has an annual capacity of 6,000kg, with a potential sale value of €36 million based on a blended average sales price across several key European markets.
“We are delighted to be fully licensed and to begin generating revenues from our Malta facility. I’d like to congratulate our entire team for helping realise our vision of a state-of-the-art processing facility, especially in working through the circumstances presented by the pandemic over the last 18 months,” Deepak Anand, CEO of Materia, said.
Malta Enterprise applauded Materia’s work, with Malta Enterprise’s CEO Kurt Farrugia saying: “We are delighted to see Materia achieve this milestone. We have been working closely with Materia since the beginning and the calibre of the team exemplifies the type of company we are proud to support here in Malta. We fully expect Materia to be one of the industry’s long-term leaders.”
Materia Malta has already begun the process of importing its first batch of raw material for commercial production and will begin fulfilment of its supply commitments imminently, starting with the initial target markets of Germany, Malta and the UK.
The first product has already been successfully registered on the narcotics licence of Materia Deutschland GmbH ahead of its import into and across Germany.
“As happy as we are to secure our licence, we immediately begin execution on the next phase of our plan,” commented Nick Pateras, Managing Director, Europe, at Materia. “We now have a fully built and licensed pathway into the European market for cultivation partners all over the world. This encompasses our in-house processing expertise in Malta on top of our distribution capabilities into and across Germany, Europe’s biggest market, through Materia Deutschland.”
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