Panaxia Pharma CEO ‘thrilled’ as medical cannabis products made in Malta head to France

A pharmaceutical company has sent an inaugural shipment of 3,000 units of medical cannabis extract produced in Malta to France in an “extraordinary moment” shared by its CEO online.

Assi Rotbart, CEO of Panaxia Pharmaceutical Industries, took to LinkedIn to say he is “thrilled” by the first-ever shipment of the company’s medical cannabis products from Malta to France.

Panaxia Pharmaceuticals is an Israeli firm that obtained a licence to produce medical cannabis products in Malta in 2022.

Panaxia Malta already exports its products to Germany, Switzerland, the Czech Republic, and Cyprus, as well as serving the local market in Malta.

Until now, France was serviced through Panaxia Israel, but the new step sees the Maltese unit delivering “pharmaceutical-grade solutions tailored to patients’ needs” in a move Mr Rotbart described as “another significant milestone in our mission.”

The company CEO thanked Malta Enterprise for its “unwavering support, facilitating this pivotal moment in our journey and enabling us to serve French patients better.”

On his part, Malta Enterprise CEO Kurt Farrugia welcomed the “important development in the progress of Malta’s medical cannabis industry.”

He pointed to the “years of efforts” by the Malta Enterprise team to lay the foundations of this industry, adding that its success “invigours our work to continue strengthening this industry while embarking on similar efforts in relation to other emerging fields.”

Mr Farrugia also stressed that success is only possible when different entities collaborate, highlighting the support received from the Malta Medicines Authority.

Mr Rotbart meanwhile extended his gratitude to Panaxia’s teams in Israel and Malta, saying that their “dedication and hard work continue to fuel our success.”