Medical cannabis company plans to grow business in Malta, starts exporting

An Israeli medical cannabis company has invested €6 million to grow its business in Malta and is set to start exporting its first products to Germany.
Panaxia announced on Friday it will be expanding its local production plant and subsequently increasing its capital investment here.
Its Maltese portfolio will include products aimed for Europe and Latin American markets. The local facility's products include tablets, oil and extract production, as well as services such as clinical trials, stability experiments and research and development. 

The expansion was announced during a visit to Panaxia’s Ħal Far plant by Enterprise Minister Miriam Dalli.
The company has just obtained the Good Manufacturing Practice license for the facility in Malta and will export its first products to Germany in the coming weeks.
Dalli described Panaxia as an early success story for one of Malta’s newest economic niches. 
Apart from the Malta plant, Panaxia operates from locations within the US, Canada and South Africa.
It is also in the process of registering products in Portugal, Greece, Poland and Brazil amongst others. Its range of pharmaceutical products - over 60 in all - are mainly based on...