Approval Boosts New Spanish Facility’s Ability to Manufacture Medical Cannabis and Products, as Sub-commission of the Spanish Congress gives green light for the implementation of a domestic medical cannabis program
London 22 June 2022 – Curaleaf International (the “Company” or “Group”), 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 received approval from the Spanish Health Authorities (“AEMPS”) to begin operating out of its newly built extract manufacturing site and microbiological testing laboratory. This approval significantly increases Curaleaf International’s ability to manufacture medical cannabis, active pharmaceutical ingredients, and medical products for the rapidly growing European Medical Cannabis market. The latest forecasts, published on 31 March 2022 in the 7th Edition of European Cannabis Report by Prohibition Partners, suggests that €357 million worth of medical cannabis medicines will be sold in Europe in 2022, increasing to €2.3 billion by 20261. The announcement marks another important milestone for Curaleaf International, following the recent registrations of some of its products in Malta and Italy.
This announcement coincides with the news that the Sub-commission of the Spanish Congress in charge of cannabis has given the green light for the implementation of a domestic medical cannabis programme, recommending doctors and patients be given access to cannabis-based extracts, oils and magistral preparations. This represents an important step for Spain where the cultivation, production and manufacturing of cannabis and cannabis products is currently allowed, but for exportation purposes only.
Antonio Costanzo, CEO of Curaleaf International, said: “This increased manufacturing capacity approved by the Spanish authorities allows the Group to increase supply to satisfy European patients’ demand; the news that Spain has now given the green light for the implementation of a domestic medical cannabis program is further evidence that the medical cannabis market in Europe is continuing to grow. Spain is one of the largest countries and markets in Europe and we expect the prescribing of medical cannabis to be widely adopted by doctors and welcomed by patients. With our enhanced local manufacturing capabilities, Curaleaf International is ideally placed to become a leader in the domestic market.”
Matt Darin, CEO of Curaleaf, added, “There is significant momentum in Europe and with the most licences of any cannabis company in Europe, Curaleaf International is well placed to capitalize on this growing momentum. With Spain moving towards full implementation and France expected to complete the opening of its market in spring 2023, all 5 major European economies will have a medical cannabis program in place. We couldn’t be more excited about the future in this market.”
