The first-ever medicinal cannabis production plant in Greece was inaugurated at Examilia, in Corinth, on Thursday.
The investment by Tikun Europe, a subsidiary of Israel-based Tikun Olam, was welcomed by Greek Development & Investments Minister Adonis Georgiadis, who called the inauguration a historic day, speaking at the event. He noted that Greek patients will benefit from these products, despite cannabis “having a difficult history due to its nature as a narcotic.”
Georgiadis added that this is “a product which we will be able to export throughout Europe because this factory can carry out huge exports to all major European countries.”
Nikos Beis CEO of Tikun Europe said that the factory is the largest pharmaceutical facility in the industry in Europe.
“A new era is beginning for our country with the operation of our Tikun Europe facility, paving the way for Greece to become one of the main players in the field of production and export of medical cannabis products”.
According to Tikun Europe, the plant can produce finished medicinal cannabis products in various pharmaceutical forms.
The company aims in the immediate initiation of cultivation in the vertically integrated greenhouse unit, with an area of 21,000 m2 and an annual production capacity, reaching in full growth, the quantity of 10 tons of dry flower.
The plants received will be used for propagation under strict protocols that will ensure the preservation of the unique characteristics of the mother plants to future generations.
Greece expects huge investments in the production of medicinal cannabis
The facility is expected to reach its full capacity levels gradually in the near future, to deliver a wide variety of finished medical cannabis dosage forms.
Since June 2018, when the legislative framework for the licensing of plants for the cultivation and production of finished medicinal cannabis products came into effect, the General Secretariat of Industry of the Ministry of Development and Investments has licensed 134 plant installations nationwide.
Greece expects huge investments in the production of medical cannabis which the government hopes would add up to 1.5 billion euros ($1.67 billion) annually to state revenue, Georgiadis recently told Greek Reporter.
“The goal is for Greece to become the top European country in the production of medical cannabis. Greece’s environment is friendly for this particular plant and we think we will have a natural advantage,” Georgiadis told Greek Reporter.
The Greek minister revealed that foreigners will also be able to use medical cannabis in Greece and that they would be allowed to purchase it through pharmacies with “the only condition [being] that they have a prescription from their doctor.”