AMP German Cannabis, Aphria Subsidiary Ink Co-promotion Deal For Medical Cannabis Sales In Germany

(RTTNews) - AMP German Cannabis Group Inc. and Canadian cannabis company Aphria Inc.'s wholly-owned German subsidiary, CC Pharma GmbH, said they have entered into a strategic agreement that covers joint marketing of sales for Aphria brand medical cannabis products for the German market.

The strategic agreement, or co-promotion agreement, is a collaboration contract between AMP and CC Pharma to sell the Aphria medical cannabis brand in Germany. With the support of CC Pharma, AMP will also organize "information events" in Germany to market Aphria branded products to doctors and pharmacists.

"We are proud to launch our high-quality medical cannabis under the Aphria brand in Germany with the support of AMP. This agreement provides the opportunity to expand the Aphria brand in Germany, one of our key international markets," said Hendrik Knopp, Managing Director of Aphria Germany GmbH.

AMP German Cannabis Group is licensed to import European Union - Good Manufacturing Practice or EU-GMP medical cannabis from Europe and other places into Germany. AMP sources, stores, delivers, and sells medical cannabis products to pharmaceutical distributors or pharmacists in Germany directly, the only point-of-sale for medical cannabis to German patients with a physician's prescription. AMP has entered into a non-exclusive distribution agreement for medical cannabis with a distributor of pharmaceuticals products to more than 13,000 pharmacies throughout Germany.

In October 2020, Aphria said it completed its first shipment of dried cannabis flower from its facility in Canada to Germany. The company completed the first shipment of dried flower to CC Pharma GmbH from its Aphria One facility in Ontario, which is certified for EU GMP.

The German market is the largest and fastest growing market for medical cannabis in Europe.

According to the Medical Cannabis Network, the medical cannabis market in Germany is currently valued at between 150 million euros and 175 million euros, despite only around 10 percent of the 20,000 pharmacies in Germany currently selling medical cannabis products.

In December, Aphria and Tilray, also based in Canada, said they have agreed to combine their businesses and create the world's largest global cannabis company based on pro forma revenue.

Following the completion of the merger, the combined company will have principal offices in the U.S., Canada, Portugal and Germany, and will operate under the Tilray corporate name.