New Zealand medicinal cannabis company Rua BioScience is on track to selling its high-value pain relief product into Germany.
Rua Bioscience co-founder Manu Caddie inspects plants with head grower Brandon Veevers. Photo: Josie McClutchie
The company has been granted a narcotics license by the federal drug authority which cuts through the regulatory hurdles for entering the key European market.
Chief executive Rob Mitchell expected the medication to be sold in German pharmacies by the end of the year.
The dried flower from the company's Australian facility is either smoked or inhaled by the patient and is only available on prescription in Germany.
Mitchell said he hoped success there would act as a launchpad for further expansion into Poland, the Czech Republic, and the UK.
"It's a really important milestone because it opens the door for opportunities in Germany and the rest of Europe," Mitchell said.
"The German market is by far the biggest medicinal cannabis market in the world.
"Other European markets, because of the size of the populations, will also be very important for us.
"The large European markets will create the opportunities for companies like Rua BioScience."
Another New Zealand company in the industry, Greenfern Industries, has signed a two year deal for its medicinal cannabis grown in Taranaki.