The news that two international companies have obtained a licence for the production of medical cannabis in Malta for the European market will be further boosted by two other production facilities in the process of obtaining a full licence to produce and sell their products in Europe. Aphria Malta and Zenpharm have made international headlines by obtaining the valued Malta Medicines Authority licence. A third company, a Canadian, Materia, has obtained a licence for its facility as an EU GMP and is in the process of obtaining a full licence for production.
TheJournal.mt can reveal that a fourth globally renowned pharma company will soon be obtaining an EU GMP licence and a licence for production from Malta for its medical cannabis products.
All four companies have so far gone through a rigorous due diligence process and evaluation of their business model and obtained a Letter of Intent by Malta Enterprise. They have also been through the tough scrutiny of the Malta Medicines Authority, which is globally renowned for its scientific and pharmaceutical expertise.
This long process that takes around 24 months is putting Malta on the map as the centre of excellence for the production of quality medical cannabis products to be distributed in Europe.
Apart from the production of cannabis–based medicines, Malta Enterprise has approved a ground-breaking medical cannabis accelerator, the first of its kind in Europe.
Malta Enterprise has approved a ground-breaking medical cannabis accelerator, the first of its kind in Europe.
TechforCannEU announced that it has secured funding of up to €2.5 million from Malta Enterprise to establish the first European tech accelerator for the medical cannabis industry. The money allocated by Malta Enterprise will be going to companies that will be conducting research, development and innovation in the field of medical cannabis for the European market. The funding in fact will be directed to start-up companies that will join the TechforCannEU accelerator program, the company said.
Malta’s push for medical cannabis is being used as a model for other European Member States both in terms of the regulatory, business and medical approach.
“Getting the production of medical cannabis right is crucial to send a message that Malta is a serious and credible jurisdiction on pharma–based medical cannabis companies in Europe”, said a promoter of such companies who is working in Malta on developing the Medical Cannabis ecosystem since 2018. “The way Malta Enterprise and the Medicines Authority have acted has shown that this country can discuss mature topics and get it right from the outset.”
The Government has very recently announced a white paper for the use of recreational cannabis at home. The ongoing discussion is expected to lead to a showdown between the government and opposition on the matter, as the more conservative Nationalist Party is expected to oppose the bill.
The adoption of this new bill for the decriminalisation of medical cannabis will certainly open the doors for more cannabis-based products, a matter that is being discussed in government, as Malta Enterprise is ready to pounce on the opportunity to bring more Foreign Direct Investment to Malta.
