Little Green Pharma (ASX:LGP) ships first order to Germany

2 min read | February 05, 2021 05:52 PM AEDT | By Kunal Sawhney

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Little Green Pharma (ASX:LGP) ships first order to Germany

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Summary

Little Green Pharma has exported the first shipment to a German customer under a purchase agreement.

The shipment, along with other contract wins, depicts a strong momentum in the European market.

Little Green Pharma Ltd (ASX:LGP) has dispatched its first commercial shipment of cannabis flower medicines. The shipment was exported to a German cannabis firm named Deutsche Medizinalcannabis GmbH.

Source: LGP Presentation, 22 July 2020

It includes 500 x 15g units of high THC cannabis flower medicines scheduled to arrive in Germany next week. Upon arrival, the shipment will be batch tested for use in German markets.

Earlier, Little Green Pharma and its customer both had conducted 12-month long audit and qualification to ensure that the product meets EU and German regulatory requirements.

Little Green Pharma Managing Director Fleta Solomon said the test passed all the requirements in the audit process. The achievement highlighted the company’s capability to grow high-quality cannabis flowers.

After the delivery, the company will be among a small group of international companies supplying to the German market. It is only the second producer, which does not require the cannabis flower to be irradiated.

Source: LGP Presentation, 22 July 2020

Under the purchase agreement with Deutsche Medizinalcannabis GmbH, Little Green Pharma will export up to 1000kg of dried cannabis flow or 48,000 units of medicinal cannabis oil product per annum. The agreement will run for three years.

The company noted German medicinal cannabis market is the largest in Europe and is expected to reach $12.22 billion by 2028.

Last week, the company secured a tender from the French government. It was appointed as the national medicinal cannabis oil manufacturer for the French medicinal cannabis trial in collaboration with Instel Chimos.

LGP last traded at $0.935, unchanged from the previous close on 5 February 2021.

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