AgraFlora Organics International (CSE:AGRA,OTCPK:AGFAF) announced that Farmako GmbH, through its wholly owned subsidiary Farmako Limited, has received its Home Office Controlled Drug License.
As quoted in the press release:
Farmako Limited was awarded the License less than one month following the successful completion of its inspection by the UK Home Office in December 2019. Having obtained the License, Farmako Limited intends to commence wholesaling medical cannabis in the UK by mid-year 2020, including the importation of Bedrocan products from the Netherlands to the UK for patient distribution.
“The UK medicinal cannabis market has been estimated to reach US$1.3 billion by 2024, with up to 1% of the UK’s population expected to be eligible to receive medicinal cannabis prescriptions by 20281,” said Katrin Eckmans, CEO of Farmako. “Obtaining the License is a key milestone for our European business, positioning Farmako Limited as an early leader in the rapidly developing UK medicinal cannabis market.”