CA (ON): TerrAscend to become active in US, Canada and Europe markets

TerrAscend Corp. announced that its manufacturing facility in Mississauga, Ontario, Canada has been issued a Good Manufacturing Practice (“GMP”) certificate in accordance with the rules governing medicinal products in the European Union. "The EU GMP certification was awarded by the responsible agency, Arzneimittelbehörde, in North Rhine-Westphalia, Germany. Additionally, we have entered a comprehensive sales and distribution agreement with iuvo Therapeutics GmbH, a German pharmaceutical wholesaler with a cannabis-specific import and distribution license. TerrAscend expects to begin distribution through iuvo this quarter," the team with the company explains. 

“Just five months ago, TerrAscend became the first North American Operator with scale operations in both Canada and the US. Upon commencement of shipments this quarter, through our partner iuvo in Germany, TerrAscend will be the first and only global cannabis operator with sales in the three largest markets in the world,” said Dr. Michael Nashat, CEO of TerrAscend. 

EU GMP standards for pharmaceuticals are among the most rigorous in the world, demanding the highest levels of quality assurance and product consistency. "Following a pre-audit review by Cannabis Compliance Inc., a comprehensive inspection was conducted over a 4-day period by government officials from the responsible agency at the Company’s 67,300 sq. ft. facility in Mississauga."

"There are medical cannabis supply deficiencies throughout the EU resulting from the limited number of cannabis producers that have been issued EU GMP certificates."

Jonathan Lubosch-Haenisch, Managing Director at iuvo, said, “After an extensive compliance assurance procedure, we are thrilled to commence the importation of pharmaceutical-grade cannabis products into Germany. We very much look forward to being able to help patients and inform stakeholders on the value of cannabinoid therapies.”

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