Flora Growth Partners with Blossom Genetics to Supply Medical Cannabis to Germany

Flora Growth Corp., a prominent cannabis operator, has announced a new partnership with London-based Blossom Genetics to supply medical cannabis to the German market. The collaboration will introduce two sought-after strains, Chemmy Jones and Northern Lights, to patients across the country.

Although financial details of the deal were not disclosed, the timing is significant. Germany recently rolled out its landmark recreational cannabis law in April 2023, which decriminalized cannabis, permitted home grows, and set the foundation for “cultivation social clubs”—nonprofit organizations where adults can acquire cannabis for personal use.

“This supply agreement with Blossom Genetics is a pivotal step in our efforts to expand Flora’s global presence and provide top-tier cannabis products to Germany,” said Flora Growth’s Chair and CEO, Clifford Starke. He emphasized that demand for medical cannabis has surged since legalization, and the company is confident that their strains will resonate with both patients and healthcare providers.

Flora Growth has been active in the German market since 2017, holding the country’s first medical cannabis license and making its inaugural medical marijuana sales. With European Union-Good Manufacturing Practice (EU-GMP) certification, Flora distributes cannabis products to over 1,200 pharmacies across Germany as it continues to scale operations throughout Europe.

Product deliveries are scheduled to begin in the fourth quarter of this year, furthering Flora’s efforts to solidify its presence in the European market. Headquartered in Toronto, with an office in Fort Lauderdale, Florida, the company remains focused on its goal of becoming a major player in the global cannabis industry.

On the day the agreement was announced, Flora Growth’s shares on the Nasdaq (FLGC) dipped 4.1%, closing at $1.10.