FastForward Innovations Ltd. (LON:FFWD) has noted that its investee company, EMMAC Life Sciences has secured a Swiss licence which allows it to import, distribute and export medicinal products, including medical cannabis, for domestic, EU and international markets.
EMMAC Life Sciences, Europe’s largest independent cannabis company, said EMMAC SAGL, the group’s pharmaceutical entity in Switzerland, has secured the Good Distribution Practice (GDP) licence for the distribution of medicinal products.
READ: FastForward portfolio firm EMMAC has Spanish manufacturing site approved to cultivate medical cannabis
EMMAC currently holds multiple research, cultivation and GMP licences across its vertically integrated business in Europe, which is experiencing increasing demand for premium-quality medical cannabis products. The European medical cannabis market is predicted to be worth in excess of $8bn by 2023.
In EMMAC’s statement, CEO Antonio Costanzo said: “This is another important milestone for EMMAC and one that positions us well to meet the requirements of the domestic Swiss market as regulation evolves, and caters to the growing demand from international markets for high-quality medical cannabis.
”We continue to execute at pace, realising our vision of establishing EMMAC as Europe’s largest independent cannabis company, and shaping the future of medical cannabis.”
AIM-quoted FastForward, which is focusing on making investments in fast-growing and industry-leading businesses, has a 2.3% interest in the issued stock of EMMAC.
In its own statement, Ed McDermott, CEO of FastForward, commented: “I am delighted to deliver another positive update from EMMAC as it continues to cement its position as Europe’s leading independent medical cannabis and wellness company. Switzerland was an early adopter of cannabinoid wellness and has further embraced plant based prescription medicine, with EMMAC’s robust supply chain it is therefore fitting that the company increases its capabilities in country.
“I look forward to being able to provide further updates on EMMAC’s continued growth in Europe and beyond.”