Futrue Group is a German pharma investor with more than 70 approved pharmaceuticals on the market. For them medical cannabis is a new opportunity, but in Germany cannabis growth is limited to only 10,4 tons per 4 years. This is far from enough when the ambition is to create one of Europe’s largest facilities for producing medical cannabis.
Instead Futrue Group partnered up with one of Denmark’s biggest horticulture companies, Rosa Danica, in Kerteminde. Under the company name Vertanical, they have started to apply for the demanded permissions to grow and produce cannabis in Denmark.
According to the Danish news site Fyens.dk, Futrue Group is now applying for the permission needed to produce medical cannabis in Denmark. When the facilities are up and running the plan is to reach 100 tons of cannabis a year and have around 100 employees as part of the production site.
“But we don’t just want to be big. High quality is essential. That is one of the reasons why we need the expertise at Flora Danica to produce the plants,” says Lise Schlesewsky from Futrue Group.
A €123bn market
According to Fyens.dk, Futrue Group will invest tens of millions of EURO in building their Danish production site. That number illustrates that medical cannabis is a big business. Prognoses says that the European market will be worth €123bn by 2028 (according to Prohibition Partners).
Vertical is the fifth company producing medical cannabis on Fyn. Three producers, Aurora Nordic, Spectrum and Schroll are either part of or in partnership with Canadian investors with experience in cannabis production.
Vertical is the first German company and the first producer on the Island with a background in traditional pharming.
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