Israeli medical cannabis approved for export to Germany, France
Only last month, Panaxia became the first Israeli medical cannabis company receive a commercial export license.
By Idan Zonshine, Jerusalem Post, December 12, 2020
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Panaxia and Neuraxpharm's Naxiva-Panaxol brand medical cannabis oil. (photo credit: PANAXIA) |
Israel's medical cannabis export industry is beginning to take
shape. Leading Israeli medical cannabis company Panaxia received
approvals to export their products to Germany and France earlier this
week.
On
Wednesday, Panaxia, Israel's largest manufacturer of medical cannabis
products in Israel, announced that they had become the first company in
the country to receive a commercial medical cannabis export license to
Germany from the Health Ministry.
Before the end of 2020, Panaxia will begin selling a series of
premium oil-based medical cannabis products in Germany under the
Naxiva-Panaxol brand, which it shares with European pharma giant
Neuraxpharm.
 |
| A medical cannabis leaf being checked for pests & leaf quality |
Only last July, Israel overtook Germany
as the largest importer of medical cannabis flower in the world, a
testament to former Health Minister Yaakov Litzman's widely criticized
reform of the medical cannabis industry.
Last month, the trend finally began to change, when Panaxia became the first company in Israel to receive commercial medical cannabis export permits to Australia and Portugal.
However,
the market potential in Germany - around 70 thousand medical cannabis
patients, coupled with a significantly higher monthly price than in
Israel - signals that this announcement could be a much larger turning
point for Panaxia and the Israeli medical cannabis industry as a whole.
On
Tuesday, Panaxia and Neuraxpharm also received Health Ministry approval
to export samples of medical cannabis tablets and oils to France, to
apply for participation in a pilot program initiated by the French
government to regulate the medical cannabis industry in the country.
 |
| medical cannabis leafs being grown commercially |
The
pilot is expected to begin in the coming months and continue for about
two years, during which 5-6 companies will select medical cannabis
products for 3,000 patients that will meet the criteria the French
government will set, free of charge.
Dr.
Dadi Segal, Founder and CEO of Panaxia Israel said on Wednesday that
"This is a big day for Panaxia; one for which we have been preparing for
a long time. Obtaining an export permit to Germany is the most
important milestone for the company to date and functions as a turning
point in its activity."
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