The North Macedonian cannabis sector is seeing increased activity as international players look to establish operations in the country. PharmaRolly Holdings B.V, at North Macedonian cultivation and extraction subsidiary, has been experiencing this momentum firsthand. "We received our GMP certification last year and are now in supply agreements with Germany, Switzerland, and the UK," says Stephen Malloy, founder & CEO of the company.
Rather than repeating the mistakes of past cannabis companies that tried to "do everything, be everywhere," while hoping to add value simply by publishing exaggerated press releases, Stephen says PharmaRolly is laser-focused on what it does best - cultivation. "From our point of view, we focus on what we're good at, which is growing high-quality cannabis," he explained. This disciplined approach has led to the establishment of key partnerships across Europe, and more discussions are being held with other companies in Czechia, Poland, Israel and Spain. Malloy is most excited for patients to experience PharmaRolly's organic flower cultivated in living soil. The main point is to grow the healthiest plants possible and this hopefully translates into medicine with higher efficacy. Malloy said he laughs when everyone talks about "patients only look at the THC content" because then he sees people mixing it with tobacco. THC is only one of the active ingredients, and Malloy believes that eventually patients will flock to what works for their personal issue, not just some number. He says "Imagine ordering a bottle of Châteauneuf-du-Pape but only if it has at least 18% alcohol."
Exploring new opportunities
Stephen says that North Macedonia is finally getting increased attention as the one of the best cannabis hubs for Europe, also in light of recent visits from investors coming from the US and Germany to explore new business opportunities in the country. "These are not speculative interests but serious industry players looking to make a long-term commitment to the region," he comments.
According to Stephen, the current cannabis landscape in North Macedonia is significantly different from its early days, when a rush of licenses was granted, many of which ultimately went inactive. The government initially over-issued permits, leading to numerous closures. However, things are now stabilizing, with experienced growers and investors stepping in to build sustainable businesses.
Having been in the Macedonian market for eight years, early entrants have faced challenges due to the limited number of established operators. "It's been lonely at times, but now we are one of the largest and most established companies here," Stephen shares. "It's good to see others following our model."
North Macedonia offers several advantages for cannabis cultivation. "The climate is comparable to Northern California but slightly drier and longer summer, making it well-suited for greenhouse cultivation," Stephen points out. "Labor costs are also a major advantage, with Macedonian workers averaging around €11,000 per year compared to € 60,000 in Germany."
Despite the complexity, Macedonia remains competitive. "Germany has little sun, while we have plenty. Labor costs are significantly lower, and the conditions here allow us to produce high-quality cannabis efficiently."
Canada, which once led the global cannabis industry, serves as a useful comparison. "When I started, I looked at Canadian companies. They used to publish their cost of production in financial reports, so you could see what they were doing. I could easily decide whether I could compete with them or not."
Now, Macedonia is proving itself as a viable competitor in the global market. "It's great to see Canadian companies importing to Germany. Germany's production costs are much higher, so we have an advantage here. With continued investment, strategic partnerships, and favorable cultivation conditions, Macedonia's cannabis industry is poised to become a key player in the European market for years to come."
For more information:
PharmaRolly
Stephen Malloy
LinkedIn