PharmaCan Captial Corp., doing business as Cronos Group, is pleased to announce the German parliament’s expanded medical marijuana program. This landmark bill, which was unanimously votes by members of Germany’s parliament, legalizes the use of medical marijuana and implenets a policy to provide health insurance coverage for patients with an eligible prescription. The program and accompanying health insurance will cover dried cannabis flower as well as extracts.
Previously, beginning in October of 2016, Cronos, in partnership with Pedanios GmbH, supplied medical cannabis to German patients under the prior program. This restricted access to many patients suffering from serious chronic illness, and required patients to pay out of pocket for medication.
“It is a historic day for patients in Germany, and, as one of the only licensed distributors in the country, we are proud to be a part of it. We are at the forefront of compassionate care, using breakthrough treatments and best-in-class medications procured through our partnership with Cronos. Insurance coverage for medical cannabis in Germany now clears the way for us to extend our joint venture across the EU as the regulatory environment continues to evolve,” says Patrick Hoffmann, Executive Partner of Pedanios.
Cronos expanded its supply agreement in December 2016 to become Pedanios’ exclusive North American supplier of cannabis products distributed within the European Union and Switzerland.
“The approval of this landmark bill is a watershed moment for German patients, Cronos, and cannabis advocates around the world. It marks a significant development in our shared vision with Pedanios to offer patients access to an insurance-covered alternative. Through our agreement with Pedanios, we are excited to offer co-branded products not only within in Germany, but also throughout the European Union in the near future,” says Mike Gorenstein, Cronos Group’s CEO.
