Cannabis

Spectrum Therapeutics becomes the first approved producer of Medical Cannabis in Denmark

Invest in Odense cases, Medical Cannabis

At the beginning of May, Spectrum Therapeutics (previously Spectrum Cannabis) announced that they have, as the first Danish cannabis producer, received approval from the Danish Medicines Agency (Lægemiddelstyrelsen). Thereby, they will enter the second phase of the medical cannabis trial and start producing medical cannabis for the hungry European market.

Receiving the approval from the Danish Medicines Agency gives Spectrum Therapeutics an advantage and head start to start producing medical cannabis. Previously, they were only allowed to grow cannabis but not to sell or use the plants for actual products. Until now, they have destroyed the plants but with the approval, they can start harvesting the plant and start selling them to production sites, which will produce the actual medical cannabis product.

The director for Spectrum Therapeutics, Morten Snede, describes the approval as: “It is a very big day. A milestone. Not only for Spectrum Cannabis but for all Danes who wish to use medical cannabis. Because it means that we now can continue the work on the cannabis plants to be suitable for actual medical cannabis products.”

The director says to DR that he hopes that their products can help to increase the quality of the medicine, which are on the market today. And hopefully, the higher supply of medical cannabis products can lead to a lower price, which makes the medicine more accessible for the patients wanting the medicine. “If our products become acknowledged for our high quality and reasonable price, we might influence the cannabis market all over Europe, and that is what we are aiming for,” Morten Snede says to DR. And according to Morten Snede, Europe are also excited about the news as this could help start to feed the need for cannabis in the hungry European market.

Lastly, the approval has also meant that Spectrum Therapeutics now are busier than ever, as they wish to start selling medical cannabis this fall. Therefore, they plan to hire 40 employees during the summer period so they are ready to increase their production this fall.

Further information:

Investment Manager
Lone Krogsbøll
loak@odense.dk
+45 5177 7344