Your latest cannabis business info from Europe

Your latest cannabis business info from Europe

2023-08-08

ODI Pharma & Synoptis: medical cannabis in Eastern Europe

ODI Pharma & Synoptis: medical cannabis in Eastern Europe

Through a ground-breaking partnership with Synoptis Pharma Sp. z o.o., ODI Pharma AB continues to strengthen its position as a major force in the medical cannabis market. As it sets the path for effective and wide-scale distribution of medical cannabis products in the Eastern and South Eastern European markets, this strategic relationship represents a critical turning point for ODI.

ODI and Synoptis: partnership contract details

In accordance with the terms of the contract, ODI Pharma AB with headquarters in Sweden, through its Polish subsidiary, will be Synoptis’ sole supplier of medical cannabis products for a starting five-year period, with an option to extend for an additional three and a half years. This partnership spans a wide geographic area, covering 23 Eastern and South Eastern European markets in total, including countries like Poland, the Czech Republic, Ukraine, Croatia, and more.

According to the deal, Synoptis will only purchase medical cannabis products from ODI Pharma to resell them under its well-known pharmaceutical and health-related brands. By entering into this agreement, ODI Pharma establishes itself as a major supplier of medicinal cannabis in the Eastern European markets.

The partnership prepares Project Poland for immediate sales, with ODI Pharma anticipating the start of sales in Q4 2023. Through Synoptis’ extensive network and channels, this advancement will make it easier to advertise and distribute medical cannabis goods.

Additionally, the partnership broadens ODI Pharma’s market reach from Poland alone to include the entire Eastern European region. ODI and Synoptis intend to collaborate to promote the legal status of medical cannabis products. Together they aim to boost sales in these markets. All because numerous countries in the area already have legal cannabis for medical use and more are willing to do so in the upcoming years.

Cannabis Eastern European market

Synoptis Pharma is part of the Neuca Group, a dominant force in the Polish healthcare industry. Thus, this collaboration is a significant accomplishment for ODI. All know Neuca Group for its innovation and market dominance in the wholesale distribution of pharmaceutical products. Together, ODI and Synoptis want to make sure that patients in need have quick access to medical cannabis.

Chairman of the Board at ODI Pharma Volker Wiederrich expressed his enthusiasm for this collaboration. He appreciated their commitment to ODI. Wiederrich emphasised the significance of ensuring patients with medical cannabis. He higlighted that the joint efforts with Synoptis will be crucial in achieving this goal.

In overall, ODI Pharma is dedicated to producing and distributing high-quality pharmaceutical cannabis and cosmetics products. All through its European network, subsidiaries, and affiliates. With its subsidiary ODI Pharma Polska, it hopes to become the main supplier of medical cannabis in Eastern European markets. The company’s primary goal is to offer medical cannabis to the European market. To meet the demands of patients in Europe, ODI Pharma also wants to understand the medical uses of cannabis.

With this collaboration, the future of the distribution of medical cannabis in Eastern Europe seems more promising than ever. It is well-positioned to have an impact on the rapidly changing medical cannabis market in this region.

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