Dadi Segal, CEO of Panaxia Pharmaceutical Industries, thanked a number of local entities for their assistance in the company’s expansion to Malta.

Dadi Segal / Panaxia

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.

Related

St Paul's Bay

Soaring demand for property in St Paul’s Bay not likely to be replicated elsewhere – RE/MAX CCO

18 April 2024
by Fabrizio Tabone

He says RE/MAX has called for clarification on NSO data, given that in statistics, Buġibba, Burmarrad, Qawra, and Xemxija are ...

HSBC Bank Malta Chairman John Bonello to step down

18 April 2024
by Fabrizio Tabone

He was appointed Chairman back in 2019, succeeding Sonny Portelli.

Final months of 2023 ‘catapulted’ Calamatta Cuschieri Moneybase to record figures – Co-CEOs

18 April 2024
by Fabrizio Tabone

2023 was a record year for the group, registering €14.6 million in revenue and €2.5 million in pre-tax profit.

Farsons Group celebrates Chairman Louis A. Farrugia’s 50 years at the company

18 April 2024
by Fabrizio Tabone

Louis A. Farrugia first joined Farsons Group in 1974, and since then has paved the way for the group’s growth ...

Close Bitnami banner
Bitnami