DR.-REDDY'S
1.4.2022 14:02:03 CEST | Business Wire | Press release
Dr. Reddy's Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY, NSEIFSC: DRREDDY, along with its subsidiaries together referred to as "Dr. Reddy's") and MediCane Health Inc. (along with its subsidiaries together referred to as "MediCane") today announced the launch of its medical cannabis product in Germany.
As part of a collaboration between Dr. Reddy's and MediCane that started in 2021, MediCane will supply the medical cannabis products to Dr. Reddy's from its EU-GMP-certified facilities in Portugal along with providing logistical 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 supported by a specialized field force that can provide education on the use of the products and guidance on the health insurance reimbursement process to healthcare professionals.
The launch marks MediCane's entry into the pharmaceutical sector of a major European market. For Dr. Reddy's, the launch reinforces its presence in Germany's growing medical cannabis market, building on its recent acquisition of Nimbus Health GmbH that specializes in the distribution, registration, sales and marketing of medical cannabis.
With over 83 million inhabitants benefitting from broad access to healthcare services, Germany already represents more than half of the current European Union medical cannabis market, thanks to developed regulations and reimbursement from sick-funds to medical cannabis under certain circumstances1 . The demand for medical cannabis has increased over the past years, driven by the German Parliament's (Bundestag) legalization of medical cannabis in 2017. The medical cannabis market in Germany is valued at ~122 Mio. € with growth of ~25% in 2021 compared to 2020 and a CAGR of ~55 % since 2017. Around 150,000 German patients benefit from medical cannabis for their otherwise unmet health needs2 , according to the reports3 especially in the area of pain management, spasticity, anorexia, vomiting, depression.
Dr. Reddy's and MediCane have also signed an agreement for the co-funding of a phase II clinical trial for a cannabis product aimed at symptom relief of Behavioral and Psychological Symptoms of Dementia (BPSD). Dr. Reddy's will hold exclusive sales and marketing rights for such product in Europe (except Russia and CIS countries) upon completion of such trial. The parties 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.
Patrick Aghanian, Head of European Generics, 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. We are very pleased about the strategic, multi-dimensional collaboration with MediCane, which further complements our mission to accelerate access to medical cannabis to meet unmet patient needs and improve the quality of life of patients."
Yossi BenAmram, co-founder and Group CEO, MediCane, said: "This collaboration articulates MediCane's strategy to develop evidence-based medical products and partnering with leading pharmaceutical companies to maximize the potential of these drugs for patients. This collaboration is a very important step for MediCane, for the short, medium and long term and we couldn't be more excited to partner with a reputable and resourceful company like Dr. Reddy's. With MediCane's agrotechnical and biological cannabis-specific R&D resources and know-how, and Dr. Reddy's proven sales, marketing and distribution capabilities, with wide geographic access in line with our strategy, as well as powerful regulatory and R&D capabilities for generic drug development, I believe this synergistic partnership can be at the forefront of the European medical cannabis market makers in the foreseeable future.”
About Dr. Reddy's Laboratories :
Dr. Reddy's Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY, NSEIFSC: DRREDDY) is an integrated pharmaceutical company, committed to providing affordable and innovative medicines for healthier lives. Dr. Reddy's offers a portfolio of products and services including APIs, custom pharmaceutical services, generics, biosimilars and differentiated formulations. Our major therapeutic areas of focus are gastrointestinal, cardiovascular, diabetology, oncology, pain management and dermatology. Dr. Reddy's operates in markets across the globe. Our major markets include – USA, India, Russia & CIS countries, and Europe. For more information, log on to: www.drreddys.com
About MediCane Health Inc. :
Founded in 2019, MediCane's seed-to-costumer business model allows comprehensive monitoring and control of the cultivation process, along with subsequent medical and pharmaceutical R&D. This model includes genetic seed development, plant propagation, and cultivation, manufacturing, pharmacological development, medical research, and distribution of the final products to end-users. Our genetic bank contains a verity of strains that are cultivated in our state-of-the-art greenhouses and then processed in post-harvest and manufacturing facilities under GACP and GMP quality standards. The distribution of the final products to end-users is carried out through a global BTB and BTC partner network. MediCane's major markets include Israel, Europe, and Australia. MediCane operates global multi-site pharmaceutical and medical R&D consists of preclinical and clinical trials in various therapeutic areas. MediCane's R&D activities are carried out in-house by its experienced team and through collaboration with world-renowned scientists and leading research institutions, which provide the analytical, biological, and medical expertise. Using a patient-centric approach to clinical trials, MediCane aims to provide potent cannabis-based pharmaceutical products to treat inflammatory and neurological diseases.
1
Source: Federal Office of Statistics Germany (Statistisches Bundesamt)
2
INSIGHT Health - Green Line NPI (Sell in/Pharmacy purchase)
3
Bfarm Companion Survey
View source version on businesswire.com: https://www.businesswire.com/news/home/20220330005542/en/
Link:
Social Media:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Kioxia and Sandisk Begin Production of 10th-Generation 3D Flash Memory Products atKitakami Plant Fab23.7.2026 12:19:00 CEST | Press release
Companies Showcase Ongoing Buildout of Manufacturing Infrastructure at K2 to Address Growing Demand for NAND Flash Kioxia Corporation, a subsidiary of Kioxia Holdings Corporation (TOKYO: 285A) and Sandisk Corporation (Nasdaq: SNDK) today announced the start of production for their 10th-generation 3D Flash memory technology at Fab2 (K2) at the Kitakami Plant in Iwate Prefecture in Japan. The milestone comes as the companies continue to drive meaningful, multi-year bit growth to address the strong demand for their innovative flash memory technology. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260702296115/en/ Unveiling ceremony for the K2 facility In conjunction with the start of production, the companies held an unveiling ceremony for the K2 facility. Opening in September 2025, the facility has produced the companies’ 8th-generation 3D flash memory products and will begin to scale production with the introduction of their
VeriSilicon Introduces CPP2000 Camera Post-Processing IP for Embodied Robotics and Mobile Vision Applications3.7.2026 12:02:00 CEST | Press release
Enhancing image quality and visual perception for moving-camera systems VeriSilicon (688521.SH) today announced its high-performance CPP2000 Camera Post-Processing (CPP) IP, expanding the company’s Image Signal Processing (ISP) solutions with advanced post-processing capabilities. By improving image quality and visual perception in mobile imaging scenarios, CPP2000 enables more reliable vision performance in robotics, drones, and other mobile vision applications. CPP2000 integrates multiple image processing technologies and can further optimize YUV images output from image signal processors. The IP supports image and video processing at up to 8K resolution and offers multiple hardware configuration options to meet diverse requirements in Power, Performance, Area (PPA), and latency across different applications. CPP2000 leverages the combined operation of multiple image processing technologies, including motion-compensated temporal filtering, advanced spatial noise reduction, chroma adj
Messer Acquires Singapore-Based Industrial Gas Platform; Japan Corporate Advisory Institute Advises Sellers3.7.2026 11:11:00 CEST | Press release
Acquisition of WKS Group strengthens Messer’s Southeast Asia presence Messer, the world’s largest privately held specialist for industrial, medical, electronic and specialty gases, has acquired WKS Group, a Singapore-based industrial gas platform with operations across Singapore and southern Malaysia. Transaction terms were not disclosed. Messer reported consolidated sales of approximately EUR 4.5 billion for its 2025 financial year. Founded in Singapore in 1977, WKS Group comprises six companies and employs approximately 195 people across Singapore and southern Malaysia. The acquisition expands Messer’s operating footprint in Southeast Asia and strengthens its access to key industrial clusters across the region. “We are pleased to have completed this transaction with Messer, whose strategic vision makes them an excellent partner for WKS Group,” said Mr. Wong Koh Hoi, shareholder of WKS Group. “We appreciate JCAI’s professionalism and dedication throughout the process, and their expert
Access Advance Welcomes Meta Platforms, Inc. and Alibaba Group to the Video Distribution Patent Pool3.7.2026 01:00:00 CEST | Press release
Access Advance LLC today announced that Meta Platforms, Inc., one of the world's largest distributors of video content across its Facebook, Instagram, Threads, and WhatsApp services, has joined the Video Distribution Patent Pool (VDP Pool) as a Licensee. Meta also joined both the HEVC Advance and VVC Advance pools as a Licensee. Alibaba Group, whose video infrastructure spans a wide range of video-based services across e-commerce, entertainment, and digital media platforms, was also announced as a VDP Pool Licensee this week. Meta and Alibaba joining the VDP Pool further reinforces the program’s market leading position in resolving the licensing issues around the use of modern video codecs, including VP9, AV1, HEVC and VVC, across all the diverse business models of internet video streaming. "A significant U.S.-based company like Meta joining as a Licensee is a milestone moment for the content distribution business and the VDP Pool," said Peter Moller, CEO of Access Advance. "Meta reach
Kioxia Commences Sample Shipments of 10th-Generation BiCS FLASH™ Devices Delivering High Performance, High Capacity and Low Power Consumption3.7.2026 01:00:00 CEST | Press release
Production planned at Fab2 of Kitakami Plant Kioxia Corporation, a world leader in memory solutions, today announced that it has commenced sample shipments of 1Tb (terabit) Triple-Level-Cell (TLC) memory devices utilizing its 10th-generation BiCS FLASH™ 3D flash memory technology.1 These will be primarily integrated into the company’s enterprise and data center SSDs, strengthening Kioxia’s lineup to meet the growing demand for AI storage, which requires higher performance, higher capacity, and lower power consumption. These new products will be manufactured using state-of-the-art equipment at Kioxia’s Kitakami Plant Fab2 facility in Iwate Prefecture, Japan. By leveraging innovative CMOS directly Bonded to Array (CBA) technology2 and On-Pitch Select Gate Drain (OPS) technology,3 both adopted since the 8th-generation BiCS FLASH™, the 10th-generation technology achieves a NAND interface speed of 4.8 Gb/s,4 a 33% improvement over the 8th generation. Bit density has increased by 59% by stac
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom