NASDAQ FIRST NORTH GROWTH MARKET, DENMARK
STENOCARE A/S (“Stenocare”) is now entering its 5th market. Stenocare has a distribution agreement with the main retail and pharmacy chain in Norway, Apotek1, to ensure national distribution from day one. The three new oil-based products will be the first of their kind in Norway and will be available as a prescription drug in all Norwegian pharmacies.
#1 in Norway: Stenocare is the first and so far the only supplier of oil-based medical cannabis products in Norway with a portfolio of three full-spectrum medical cannabis oil products from the GMP certified Canadian supplier, AgMEDICA Biosciences. Apotek1 will manage logistics and distribution in Norway and thus ensure the availability of products for patients even in the most remote areas of Norway. There will be three different medical cannabis oil products available to patients in Norway: THC Drops 30 mg/mL, CBD Drops 20 mg/mL and Balanced 15 mg/mL THC + 24 mg/mL CBD.
“Norway is a lucrative Nordic market. Now Norwegians can access our products as soon as a doctor prescribes the medicine for them. This includes the most remote parts of Norway. All the conditions seem to point to a potentially very interesting activity for us in Norway“, says the CEO Thomas Skovlund Schnegelsberg.
Now 5 markets in total: The Danish medical cannabis company has now expanded into five highly regulated and up-and-coming domestic markets, while building strong local partners and distribution. The Danish medical cannabis company aims to enter up to 10 countries before 2025. As highly regulated drug markets with excessive patient care and drug testing, Scandinavian countries are tough markets to break into. But with the authorization to sell its products in Norway, Stenocare has once again proven that the growth strategy is on the right track.
“With Norway added as Stenocare market, we are celebrating that we are now halfway to our goal of being established in up to 10 markets by 2025. We are seeing strong signs that Norway will provide significant aggregate sales volumes to Stenocare in the coming quarters and beyond,” says the CEO Thomas Skovlund Schnegelsberg. “We are striving to be the premier players in medical cannabis and, as of today, we are officially the premier players in the three Nordic countries. Norwaywe have noticed an increased interest in the legal treatment of medical cannabis in recent years.
Available for patients: Work to import Stenocare full-spectrum medical cannabis oil products will commence immediately and products are expected to be available to patients at the end of Q4 2022 pending international import/export certificate. Medical cannabis can Norway be used legally for treatment only if prescribed by medical specialists. Initially, pain clinics will lead the introduction of these new medical cannabis oil products – but the products will be available in all Norway.
We worked with the highly experienced team at Apotek1 to begin importing into Norway where our products are so far the only full-spectrum oil-based products. This is an important step for medical specialists and patients of Norway because they will now have products readily available for their treatment,” says the CEO Thomas Skovlund Schnegelsberg.
For more information regarding STENOCAREplease contact:
Thomas Skovlund SchnegelsbergCEO Phone: +45 31770060 Email: [email protected]
About STENOCARE A/S
Stenocare was founded in 2017 with the aim of providing medical cannabis to patients of Denmark and internationally. The company was the first to receive permission from the Danish Medicines Agency to import, distribute, cultivate and produce medical cannabis. Stenocare sources produce from a number of carefully selected, high-quality international suppliers and operates a unique, state-of-the-art indoor growing facility at Denmarkwhich has multiple levels of redundancy to preserve quality and consistency in a pesticide-free production process.
Apotek1, is a major drug distributor that is part of Phoenix Groupone of Europe largest distributors of government-approved drugs. Apotek1, the leading pharmacy chain in Norway with over 450 local pharmacies nationwide and is also the leading online pharmacy in Norway. Apotek1 distributes to all pharmacies in Norway.
(c) Decision 2022. All rights reserved., sources Press Releases – English