Greece added to rapidly expanding EU distribution portfolio. LGP now has distribution agreements in 5 EU territories including France, Denmark, Germany, Poland and Greece.

Little Green Pharma Ltd (ASX: LGP, “LGP” or the “Company”) is pleased to announce its entry into an exclusive agreement with PharmaServe Hellas SMSACI (“PharmaServe”) for the distribution of LGP-branded oil medicines and cannabis flower in Greece (“Agreement”).


Highlights:

  • LGP signs four-year agreement with PharmaServe for the distribution of LGP-branded oil medicines and cannabis flower in Greece
  • Under the agreement the parties agree to exclusively supply and distribute LGP-branded cannabis medicines in Greece for a minimum 2- year period
  • The agreement adds a new territory to LGP’s EU distribution portfolio and represents LGP’s first agreement for the supply of products from LGP’s new Danish facility outside Australia and Denmark
  • LGP anticipates PharmaServe will be one of the first distributors to apply for a med

Under the Agreement, PharmaServe agrees to exclusively distribute LGP cannabis medicines and not promote any other cannabis medicine in Greece for at least 2 years, with further exclusivity periods to be extended by agreement. In return, LGP will exclusively distribute its cannabis medicines through PharmaServe in Greece for this 2-year period.

The Company will supply the medicines from its Australian and Danish facilities (subject to deposit prepayment terms) and will share product revenues on a 50:50 basis, subject to LGP receiving certain minimum prices per unit.

PharmaServe and the Greek medicinal cannabis market

PharmaServe has operated as a distributor of pharmaceutical/healthcare products in Greece since 1984. Currently, the Greek market is primarily serviced by CBD (hemp) products with THC levels <0.2%. With a population of ~11 million, there are no registered medicinal cannabis products in market, and LGP anticipates PharmaServe will be one of the first distributors to apply for a medicinal cannabis Marketing Authorisation in Greece, giving LGP a significant foothold in a new, currently under-served market in the EU.

Click here for the full ASX Release

This article includes content from Little Green Pharma, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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