Materia Malta became the first company to export medical cannabis from Malta for sale in another country as it has completed the first commercial export of medical cannabis to Germany on 14 June. Germany is Europe’s largest medical cannabis market.
Materia’s Managing Director for Europe Nick Pateras said: “We believe Malta will play an important role in the global cannabis supply chain, as it has done within the broader pharmaceuticals sector for decades. We are proud to be the company establishing new frontiers for Malta’s and Europe’s cannabis industry”.
Materia is one of a number of operators that have set up in Malta since the legislation allowing for the production of medical cannabis products for research and medical purpose was enacted in 2018. ZenPharm, ASG Pharma, Panaxia Pharmaceutical and MPXI have also obtained licences for operations from the Malta Medicines Authority (MMA) for production in and exports from Malta.
Malta Enterprise has also approved several start-up projects related to research and development of cannabinoids, their use in different therapeutic indications and innovation in industrial processes related to cultivation and extraction.
Malta Enterprise CEO Kurt Farrugia said: “This is a veritable milestone which places Malta on the map within a sophisticated global supply chain. We have worked tirelessly to attain this result – a moment which will in turn push us to other frontiers within the medical cannabis field.”
“Malta has been very proactive in creating new opportunities for investors,” said Sovereign Trust (Malta) Managing Director Stephen Griffiths. “In recent years, we have seen a focus on new business areas such as the pharmaceutical industry, fintech companies, blockchain, AI and more.
“Malta’s tax regime and extensive double tax treaty network has certainly contributed to this investment growth, but it has a lot more to offer businesses. Malta is a full EU member state that offers a highly educated workforce that is fluent in English, a strong legal system, an advanced IT infrastructure and good geographic connectivity. It is also a safe and stimulating environment for individuals and families who want to relocate here.”