ODI Pharma AB enters into exclusive collaboration with Synoptis Pharma Sp. z o.o.
ODI Pharma AB (“ODI” or “the Company”) hereby announces that the Company has entered through its Polish subsidiary into a collaboration agreement (“Agreement”) with Synoptis Pharma Sp. Z o.o. (“Synoptis”) under which ODI becomes the exclusive supply partner for medicinal cannabis flos products to Synoptis for a period of 5 plus additional optional 3.5 years covering all Eastern and South Eastern European markets, including Poland, Czech Republic, Ukraine, Croatia etc.
Milestone for ODI
ODI has secured a prime pharmaceutical company in the Eastern European markets as its collaboration partner. With this agreement ODI teams up with one of the biggest pharmaceutical companies in the Eastern European markets in order to provide the efficient supply of medicinal cannabis to patients. Under the Agreement, Synoptis will exclusively source medicinal cannabis from ODI to facilitate the distribution of medicinal cannabis under the existing pharmaceutical and medicinal brands of Synoptis. The Agreement covers 23 countries and covers a range of medicinal cannabis products. With the Agreement in place ODI establishes itself as a main supply partner of medicinal cannabis in all Eastern European markets.
Immediate start of sales
Also, the Agreement implicates that ODI will generate first sales from Project Poland latest in Q4/2023. The products will be marketed and distributed by Synoptis.
With the Agreement with Synoptis, ODI significantly expands its market reach from Poland only to now all countries in Eastern Europe that already legalized medicinal cannabis or will do so in the coming years. Also, ODI will work together with Synoptis to promote the legal status of the products and sales in these countries.
Comment from Volker Wiederrich, Chairman of the Board, ODI Pharma AB
“We are very pleased to continue our journey in medicinal cannabis in Eastern Europe together with Synoptis. Synoptis is part of Neuca Group, one the largest and most innovative pharmaceutical companies in Eastern Europe. We are excited to enter not only Poland with our products, but to significantly broaden our reach in Eastern Europe and want to thank Synoptis for their commitment towards ODI. We are looking forward to supplying these markets together with Synoptis and to secure the access to medicinal cannabis for patients where needed”
Synoptis Pharma Sp. z o.o.
Synoptis Pharma Sp. z o.o. is part of the Neuca Group, the second largest company in the Polish healthcare sector, measured by sales and the market leader in wholesale distribution of pharmaceutical products. In combination with its affiliation to Neuca Group, Synoptis creates high-quality prescription drugs, dietary supplements and dermocosmetics in response to the needs of patients and the expectations of doctors and pharmacists, and assumes a very strong role in promoting and selling their brands/products through these channels.
ODI Pharma AB
ODI Pharma, based on its European network, subsidiaries and affiliates, is a producer and representative of finished pharmaceutical cannabis and cosmetics products with a focus on distribution to the medical cannabis market in Europe through its subsidiary ODI Pharma Polska Sp. z o.o. ODI Pharma provides a high-quality product at a competitive price compared to competitors in Eastern Europe, thereby becoming the number one provider of medical cannabis in these markets. ODI Pharma also strives to be on the forefront of understanding the medical applications of the product as well as introducing new, innovative products to the European patients in need. The Company will continue to team up with the most knowledgeable and best renown partners in the industry to achieve its goals.
For more information on ODI, please contact:
Volker Wiederrich, Chairman, ODI Pharma AB
This information is information that ODI Pharma is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above on 7th August 2023.