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Stephen Malloy, PharmaRolly:

"I think the growth in medical sales will surprise people"

"The outlook is better than it has been since I entered this industry 7 years ago," says Stephen Malloy, CEO of PharmaRolly, about the current market situation. The company produces medical cannabis in North Macedonia and is noticing the current developments in the European market. "Many of the largest companies are looking towards Europe for the best global growth opportunity at the moment."

Stephen Malloy

"Surprising growth"
Stephen thinks that the growth in German medical sales will surprise people. "The key is that the stigma is disappearing. As a result, doctors will be more inclined to give a prescription to someone. People no longer have to be ashamed about requesting cannabis to get a full night of sleep or to relieve other issues. This will help patients to stop getting their cannabis illegally and go through official channels instead."

"I would guess that in the next 6 months, the medical market will be at 4 times the present market run rate and at least 6 times in 2-3 years. We are already hearing positive things from Germany: a medical cannabis distributor mentioned that the sales run rate doubled in the first two weeks of April," Stephen says. For patients, the developments are, of course, also important: "Patients will want to be able to choose various strains to see what works the best. Patients will appreciate that the medical market offers clean products which they can receive consistently and will be shipped to their front door securely."

However, Stephen foresees some challenges when it comes to the German social clubs. "The social clubs will be quite limited. They are non-profit, can only have 500 members, and can't expand more than that. As a medical grower for 6 years, we know that it will be difficult to reach the proper efficiencies to make a quality product. In a social club, if you do your best work and create an amazing product, then you can't continue building your business. So any entrepreneurial spirit is stunted."

For PharmaRolly itself, the biggest challenge at the moment is that the market is still very new. "Most patients don't understand what it means to have organic, sun-grown flower cultivated in living soil. A lot goes into it and it positively impacts the quality of the end product. We hope that will become better known among consumers in the future."

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Stephen Malloy