Poland is making big moves in the realms of cannabis and medicine. South West-based Little Green Pharma (LGP) and Medezin have signed a five-year exclusive pharmaceutical distributions agreement for the distribution of cannabis medicines into Poland, according to Farm Weekly.
Medezin is a subsidiary of Pelion SA, which is the largest operator in the Polish and Lithuanian healthcare sector, and they are now the exclusive partner in distributing medical cannabis oil and high-THC flower products in Poland.
Medezin is looking to target the sale of products that would make up at least 20 percent of the Polish medicinal cannabis oil market and at least 10 percent of the Polish, high-THC medicinal cannabis flower market.
LGP’s managing director, Fleta Solomon, said their agreement with Medezin shows the company’s ambition in acquiring and maintaining a substantial portion of the total, addressable market in the jurisdictions it supplies products to.
“We are very pleased to have partnered with Medezin, a highly experienced and large-scale pharmaceutical distributor servicing the Polish market, to help us achieve this goal,” Solomon said.
Solomon also noted that the value of the agreement will ultimately depend on the number of orders under the agreement, which are subject to the minimum order requirement and price of the products for LGP, which will be determined by the market at the time of sale.
“Given the variable nature of the number of units likely to be sold under the agreement, the floating calculation of the minimum quota and variable pricing arrangements, LGP is unable to provide further guidance on the financial impact of the agreement but will provide updates on the value of the agreement on an ongoing basis as part of its quarterly reporting obligations,” Solomon said.
After the initial five-year period, the grant will automatically renew for successive one-year periods unless it is terminated. The parties have already progressed the first marketing authorization plan for LGP’s products, and Solomon said that usually Polish marketing authorizations require 210 for assessment and grant.
“Medezin’s distribution exclusivity is conditional upon it purchasing a minimum quota of products,” she said “In each case, the minimum quota is calculated annually in the relevant market for the previous 12 months of sales as collected and reported by the Polish medicines regulator. Medezin may only terminate the agreement due to LGP’s material default or if the safety of the products is disputed by the Polish regulators.”
Poland is the fifth largest country in the European Union, and all doctors are eligible to prescribe medicinal cannabis in the country. There is no definitive list of health conditions that merit prescription of medical cannabis.
Currently, the country relies solely on important cannabis medicine.
