Spectrum Cannabis Denmark, a Danish company based in Odense, Denmark, is the first company to receive authorization from the Danish government to legally produce and supply the Danish market with medical cannabis. The news was released on May 10th, by the local paper The Copenhagen Post Online.
Spectrum Cannabis Denmark is a joint venture between the Canadian Canopy Growth Corporation (the largest world cannabis producer) and Danish Cannabis ApS (a European hemp producer), and currently has a 40.000 m2 cannabis production facility in Odense.
Morten Snede, Managing Director of Spectrum Cannabis, expects the first products to be released into Danish pharmacies by this year’s September or October. Moreover, he points out that they were able to reach the goal before their competitors, due to “loads of teamwork”.
Their list of direct competitors, all possessing government-issued producer permits, includes multinationals and companies such as Medican, Medical Cannabis Denmark, Schroll Medical, and Aurora Nordic Cannabis.
In fact, the Danish government had already issued 12 official permits for medical cannabis producers in December 2017, but Spectrum Cannabis is the first company fully authorized to supply the Danish market with medical cannabis products.
Expecting a peak of increased production, the company is already preparing to hire 30 to 40 new employees over the summer, in order to meet the market’s demands. Snede assures Spectrum Cannabis will be able to supply the Danish market with high-quality products far superior to any others currently in the market, and at a lower cost.
Much like its direct competitors, but now with a serious advantage, Spectrum Cannabis intends to bring cannabis production to the next level and expand the distribution throughout Europe. By doing so, this may place Denmark besides countries like Portugal, Malta, and Germany, as a promising new European source of legally produced and distributed medical cannabis and cannabis-derived products.
This healthy competition will allow the market to expand, bringing more diversity and options to all thousands of European patients who require access to these types of treatments.