The ever-growing popularity of medicinal cannabis is leading to a number of pharmaceutical companies to shift their focus on medicinal cannabis.
Malta seems to be a particularly attractive destination for medical cannabis companies to set up shop: while a significant number of such companies have shown an interest, there are already 3 licensed companies operating on our islands.
In addition, Malta Enterprise (ME) is supporting 2 other companies that have almost obtained their GMP and narcotics license.
On top of this, another 6 companies have received ME support and are in the process of setting up their facilities.
A2W Pharma Ltd, a Malta-based company, yesterday opened a new pharmaceutical facility, extending further their 30-year old operation. With this it promises to deliver high quality product and create new specialised jobs.
Malta seems to be a particularly attractive destination for medical cannabis companies to set up shop.
The company has begun validating materials and methods, and is expecting to receive its EU-GMP certification this summer.
Its long-term vision centres around the development of botanical active substances for pharmaceutical and nutraceutical product development.
“The discoveries related to the active substances found in the cannabis sativa plant, and their therapeutic effects, represent a shift in the way patients suffering from a wide range of ailments can be treated,” Tony Cai, Chairperson at ABA Chemicals said.
“With the opening of A2W, our primary vision is to increase access to these substances, whilst utilising 30 years of experience in pharmaceutical development to ensure adherence to the strictest of regulatory requirements,” he said.
A2W’s long-term strategy centers around developing pharmaceutical products for therapeutic areas where there is a critical need to advance patient care.
The medical cannabis industry, globally valued at $22 billion, is expected to continue its tremendous growth as more countries legalize prescription use to treat conditions such as epilepsy, multiple sclerosis, Alzheimer’s, fibromyalgia, Chron’s disease and other neurological and immunological conditions.
Currently, over 30 countries have legalized cannabis for medical use, and many have patient assistance programs in place which support costs through reimbursement schemes.
Industry growth can also be attributed to physician education and patient awareness regarding the benefits of medical cannabis.
The numbers are clear: thousands are turning to medicinal cannabis to treat a whole range of conditions. This relatively new sector is proving not only to be helpful in the medical sphere but is also creating opportunities in business.