Neuraxpharm selected for prestigious pilot program to supply medical cannabis in France

DÜSSELDORF, Germany and BARCELONA, Spain, Jan. 28, 2021 /PRNewswire/ -- Neuraxpharm Group (Neuraxpharm), a leading European specialty pharmaceutical company focused on the central nervous system (CNS), today announces that its affiliate Neuraxpharm France has been selected as one of winners for the participation in a pilot program for the medical use of cannabis issued by The French National Agency for the Safety of Medicines and Health Products (ANSM), together with Panaxia Labs, Israel's largest medical cannabis manufacturer.

Neuraxpharm emerged as one of the first European pharmaceutical companies to include medical cannabis products in its portfolio, with a business collaboration starting last year for Germany, the largest cannabis market outside the USA. Now, as part of its strategic collaboration with Panaxia to enter the French market in the first phase, the companies submitted a joint application for the pilot program issued by ANSM. The program is based upon strict and demanding specifications in terms of compliance with good cultivation and manufacturing practices, the quality of the drugs and the safety of the distribution channel. France is the fifth largest pharmaceutical and CNS market in the world ^[1], and the country is known to have the strictest regulation in the Western world with regard to medical cannabis use. With a population of about 67 million, according to recent estimates there are about 700,000 patients in France who may be eligible for a prescription of a medical cannabis treatment.

Along with Neuraxpharm and Panaxia, three of the world's leading medical cannabis companies were selected as main suppliers for this pilot program, emphasizing Neuraxpharm's status as a leading player in the European medical cannabis market. As part of the program, four finished products were selected that have successfully met the stringent ANSM requirements in relation to finished products. They include the oral formulations in both the THC and CBD dominant forms together with the balanced THC / CBD formulations. The list of indications compiled by the ANSM includes diseases such as cancer, certain types of epilepsy, multiple sclerosis, palliative care and pain, where conventional treatments don't work.

This selection paves the way for supplying medical cannabis in state-of-the-art formulations to the patient, which will allow the effective start of the pilot program on March 31, 2021 at the latest. Monitoring of compliance and quality of the products supplied will continue throughout the pilot program.

The prestigious medical cannabis pilot program intends to provide free products to enrolled patients.
It will last two years and provide medical cannabis products to 3,000 patients who meet the determined criteria. Selected doctors, nurses and pharmacists participating in this program will undergo special training in registering and issuing medical cannabis prescriptions to patients. At the end, a decision will be made by the French Authorities regarding a license for the use and sale of medical cannabis products in France.

Dr. Jörg-Thomas Dierks, CEO of Neuraxpharm, commented: "We are excited to have been awarded and selected to participate in this pilot program for the medical cannabis use in France, a significant market in the fast-growing international medical cannabis sector. As one of the first pharmaceutical companies to distribute medical cannabis products in Europe, we are ideally positioned, in partnership with Panaxia, to responsibly introduce medical cannabis products to new markets, in line with our corporate mission to offer ground-breaking therapeutic CNS solutions to patients with unmet medical needs. We are confident that France will lead the way for other countries to embrace the use of medical cannabis in the coming years."

Dr. Dadi Segal, CEO of Panaxia Israel, added: "Our collaboration with Neuraxpharm positions us as a leading player in the medical cannabis market in France, which is poised to experience accelerated growth. Our extensive combined experience in manufacturing and commercializing processed and advanced cannabis products will provide the program's patients with state-of-the-art, high-quality medical cannabis products to meet the growing demand for conditions that don't respond to conventional treatment."

References

^[1] Source: IQVIA

About the Group Neuraxpharm – the European CNS specialist

Neuraxpharm is a leading European specialty pharmaceutical company focused on the treatment of central nervous system disorders (CNS) with a direct presence in Germany, Spain, France, Italy, Czech Republic, Poland, Austria, Switzerland, Slovakia, United Kingdom, Hungary, Portugal and the Republic of Ireland. Backed by funds advised by Permira, Neuraxpharm has a unique understanding of the CNS market built over 35 years.

With its focus on CNS, Neuraxpharm develops and commercializes value added medicines, standard generics and Consumer Healthcare products, e.g., probiotics and other nutraceuticals, and is continuously striving to offer a wide range of effective, high quality and affordable CNS treatment options in Europe.

Present with its products in more than 50 countries, Neuraxpharm also manufactures pharmaceutical products and active pharmaceutical ingredients in its own manufacturing sites in Spain, Lesvi and Inke.

To learn more about Neuraxpharm, please visit: https://www.neuraxpharm.com

SOURCE Neuraxpharm