Indian drug maker Dr. Reddy's Laboratories Ltd. (DRREDDY) and MediCane Health Inc., announced the launch of their medical cannabis products supply in Germany. In addition, the two parties have also inked a deal for the co-funding of a phase II clinical trial for a cannabis product.
With the move, MediCane will supply the medical cannabis products to Dr. Reddy's from its EU-GMP-certified facilities in Portugal along with necessary logistic and regulatory support.
As the exclusive distributor of the products in Germany, Dr. Reddy's will provide access to MediCane's medical cannabis products under its own brand.
Patrick Aghanian, Head of European Generics at Dr. Reddy's, said: "This collaboration with MediCane Health demonstrates Dr. Reddy's commitment to take a leadership position in Europe's rapidly growing medical cannabis market. With MediCane, we join forces with a unique and differentiated research-based partner in the medical cannabis field..."
The move to distribute medical cannabis products in Germany, which represents over half of the current EU medical cannabis market, follows a partnership agreed between the two firms last year. .The agreement for the co-funding of a phase II clinical trial for a cannabis product is aimed at symptom relief of Behavioral and Psychological Symptoms of Dementia (BPSD).
Accordingly, Dr. Reddy's will hold exclusive sales and marketing rights for such a product in Europe, except Russia and CIS countries, upon completion of the trial.
The companies expect to commence the clinical trial of the product during the second half of 2022.
BPSD refers to the spectrum of commonly observed non-cognitive and non-neurological symptoms of dementia, such as agitation, aggression, psychosis, depression, and apathy.
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