Dadi Segal, CEO of Panaxia Pharmaceutical Industries, thanked a number of local entities for their assistance in the company’s expansion to Malta.
Panaxia specialises in medical cannabis research and development and manufacturing. Last May, Panaxia Global obtained a production license from the Maltese health authorities, thus allowing it to export and market finished medical cannabis products in European standard from Malta.
“We are excited and proud to have started this beautiful production facility here in Malta. We wanted to produce all our innovative products, namely vaporisation extracts – cannabis which doesn’t have to be smoked – tablets, and oils into the European market,” Mr Segal said
Just last week, Panaxia completed a €6 million investment in its plant in Hal Far – having said that, the company noted that it seeks to further expand its domestic production.
“We have chosen Malta because of the great support we have received from the Malta Enterprise and the Malta Medicine Authority. Not only have we started to produce, but now we decided to expand our facility in order to take the production to the next step. Thank you, Malta Enterprise,” the CEO concluded.
Malta Enterprise is the country’s economic development agency, tasked with attracting new foreign direct investment as well as facilitating the growth of existing operations.
Kurt Farrugia, CEO of Malta Enterprise, took to social media to thank Mr Segal for his comments.
“We welcome your expansion and will be at your service, as always,” he wrote.
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