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LGP’s German roots grow deep

12 July 2022 11:23
ASX: LGP

Little Green Pharma has struck another significant agreement, entering into a $2 million pact with German wholesaler Ilios Santé for a non-exclusive supply of high-THC medicinal cannabis.

The new partner is a wholly-owned subsidiary of the leading European cannabis collective—the Bloomwell Group, which holds assets along the entire value chain outside cultivation.

It has been an extensive campaign in Germany for the Western Australia-based producer, striking several separate supply deals for a European market set to be worth $3.2 billion by 2025 for medicinal cannabis alone.

The company said its latest compact had ample room for growth.

“It not only strengthens our share of the medicinal cannabis product market in Germany but at the same time strategically partners us with The Bloomwell Group,” chief executive Fleta Solomon said.

“We look forward to collaborating with Ilios Santé to help service our rapidly growing number of medicinal cannabis patients in Germany.”

The company will continue to focus on sales while advancing industry research and education.

LGP’s Australian Stock Exchange-listed share price was trading at 32c today (9.50 am UTC+ 8 hours).

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