Little Green Pharma's Danish arm has signed a new agreement to supply a high-THC medicinal cannabis strain to Germany, with Cologne-based importer Cannamedical Pharma as the partner.
The deal is LGP's fourth arrangement to export medicinal cannabis into Europe's biggest cannabis market, adding to existing agreements with Four20 Pharma, Illios Sante, and Demecan.
Under the terms of the agreement, LGP will provide the high-THC product to Cannamedical on an exclusive basis, contingent on the importer meeting specified minimum order quantities every six months.
LGP expects final development of the strain to be completed within two to six months, with the initial shipment scheduled for the first half of 2023.
The company estimates the deal could be worth more than A$4.5 million (€3 million) across a two-year period.
"The agreement represents continued validation of LGP's key strategy of developing bespoke, high-value white label strains for export to lucrative jurisdictions," it said in a statement.
