Just a few weeks after Malta officially legalised medical cannabis
Australian pharmaceutical company MGC Pharma has announced plans to construct a 4,000 metre-squared state-of-the-art medical cannabis production and cultivation facility in Malta.
In the wake of a new law regulating medical cannabis, Malta Enterprise selected five foreign companies by tender to start producing the drug in Malta.
Canadian giant Nuuvera had already confirmed it will be setting up a branch in Malta and now MGC Pharma has done likewise.
“This contract provides MXC with an attractive new cultivation site in the European Union, completing the Board’s strategy to operate a full vertically-integrated medical cannabis operation in Europe,” the company’s co-founder Roby Zomer said. “Excitingly, with any CBD and THC strains of medical cannabis permitted under the agreement, we are now able to develop additional pharmaceutical products, which use the benefits of both CBD and THC.”
“In addition to being used in the production of our GMP-certified pharmaceutical products, this contract extends the medical cannabis market for our company into the supply of medical cannabis flowers to emerging European markets, including Germany.”
As part of the contract, MGC will be obliged to invest a minimum of €4.3 million over the first three-year term on the construction and operation of its cannabis facility and to employ at least 25 Maltese people.
By Tim Diacono – Lovin Malta