Milestone for Medalchemy in Spain; facility now fully licensed to import, cultivate, extract, manufacture and export medical cannabis flower and extracts.
Accelerates export capacity to serve growing European and international medical cannabis markets.
6 July 2021, London. Curaleaf International (formerly EMMAC Life Sciences Group) (“Curaleaf International”), Europe’s largest vertically integrated cannabis company, is pleased to announce that Medalchemy, the Group’s Good Manufacturing Practice (“GMP”) certified manufacturing site in Alicante, Spain has secured approval from the Spanish Health Authorities (“AEMPS”) to import, manufacture and export medical cannabis flower.
Medalchemy now has fully integrated cannabis supply facilities, with a licence to import, cultivate, extract, manufacture and export medical cannabis flower and extracts commercially as well as a licence to produce medical cannabis flowers and extracts for investigational and research purposes. This will allow the Group to expand its existing supply of medical cannabis across Europe, a market which, according to Prohibition Partners, is expected to be valued at €3.2 billion by 2025.[1] Curaleaf expects the total addressable European market is US$120 billion.
Antonio Costanzo, CEO of Curaleaf International, said, “This approval once more validates our science-led strategy and integrated business model. It will also significantly increase our ability to manufacture and export high-quality medical cannabis products across the growing European market and beyond. Today, we are the European medical cannabis company with the most licences, which in addition to our full control of the supply chain, means we can continue to deliver quality and innovation across all aspects of our business. As European legislation continues to rapidly evolve and more medical cannabis markets emerge, we are well positioned to scale to the meet growing patient and partner demand in Europe for medical cannabis. We look forward to continuing our track record as a European market leader.”
About Curaleaf International
Curaleaf International (formerly EMMAC Life Sciences Group) is Europe’s largest vertically integrated cannabis company, bringing together pioneering science and research with cutting-edge cultivation, extraction and production. With a unique supply and distribution network throughout Europe, Curaleaf International’s vision is to bring the life-enhancing potential of cannabis to the people who need it. For more information about Curaleaf International, please visit https://www.curaleafinternational.com/.
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CAUTIONARY STATEMENT
All statements, other than statements of historical fact, in this news release are forward-looking statements that involve various risks and uncertainties, including, without limitation, statements regarding potential values, the future plans and objectives of EMMAC. There can be no assurance that such statements will prove to be accurate, achievable or recognisable in the near term. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. EMMAC assumes no obligation to update forward-looking statements should circumstances or management’s estimates or opinions change.
[1] https://prohibitionpartners.com/reports/the-european-cannabis-report-6th-edition/
