Stada Arz partners with MediPharm on medicinal cannabis products

In what is boasted as a ‘milestone’ for the global cannabis industry, Germany’s generics and consumer health specialist Stada Arzneimittel (SAZ: Xetra) has signed a partnership with Canada’s MediPharm, forging the way as a large pharmaceutical company commercializing medical cannabis products.

“Working with MediPharm will meet the needs of pharmacists and patients and deliver on STADA’s purpose of caring for people’s health as a trusted partner,” commented Stada chief executive Peter Goldschmidt., adding “This partnership with MediPharm demonstrates Stada’s ambition to be the go-to-partner for Generics, Consumer Health and Specialty Products.”

Under the terms of the exclusive partnership, MediPharm, a wholly-owned subsidiary of MediPharm Labs (TSX: LABS), will supply good manufacturing practices (GMP)-certified medical cannabis products to Stada as well as manufacturing, logistics, and regulatory support. Stada will be responsible for commercializing the cannabis products, initially in Germany as well as marketing and medical education utilizing a pharmaceutically experienced field force. Financial terms were not disclosed, but shipments are expected to begin early next year.