Panaxia’s facility in Malta granted EU-GMP Standard

CANNANNEW REPORT

Panaxia Global, the controlling owner of  Panaxia Labs Israel Ltd. (TASE: PNAX), a global pharma company that develops, manufactures and markets progressive cannabis-based products in pharmaceutical quality, announced today that it has received official approval for the EU-GMP standard for its production facility in Malta from EU Health Authority. This standard is binding and essential for the production, export and marketing of medical cannabis products in EU countries, in accordance with the standards accepted under the European Directive for the manufacture of medical cannabis-based products. Dr. Dadi Segal, CEO of Panaxia: “The EU-GMP Standard granted to our facility in Malta is a significant regulatory achievement and a result of an in-depth and lengthy audit process by the European Health Authority. It will enable us to export our products to markets that Israel can not export to, due to regulatory restrictions. At the same time, we will continue to regularly manufacture and export our medical cannabis products to Germany, France and Cyprus from our facility in Israel, the only one in the country with EU-GMP standard. ” Panaxia now owns two facilities with the exclusive and sought-after European standard, which will allow it to export its products to a wider variety of countries. Thus, the company became the first and only medical cannabis company in Israel to have a facility located in the territory of the European Union with an EU-GMP standard from a European authority. Following the adoption of the EU-GMP standard for a facility in Malta, the Panaxia Group now have a significant power multiplier for export capacity, both in terms of output and destinations to which it can export, since the permit allows for export and marketing to all countries that require the registration of the final product in the country of origin, such as Poland, Greece, Portugal and Brazil. Currently, Panaxia has marketing permits in Germany, the largest and fastest-growing cannabis market in Europe, and Cyprus, which do not require product registration in the country…

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Source : Panaxia’s facility in Malta granted EU-GMP Standard

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