Hellenic Pharmaceuticals Corporation has already acquired from the Greek State the Installation Permit according to the Greek Cannabis law No 4523/2018 and the relevant common Ministerial decision No 1692/2018 as it is published in the Government’s Newspaper No 4407/B-issue 18-08-2022
The European medical cannabis market is a key strategic space for pharmaceutical companies over the next decade. Extensive studies, research and investment momentum indicate that Europe will be the largest medicinal cannabis market in the world, estimated to be worth in excess of €20.2 bn by 2024 and in excess of €58 bn by 2028 (Nov 2019, The Global Cannabis Report) according to Prohibition Partners and will see continuous growth over the coming decades. Of course, this does not include any accounting for recreational cannabis which make these figures €240 bn and €750 bn, respectively Greece’s geographic location, weather conditions and Government incentives are already demonstrating that the country will become Europe’s leading production and processing country for medicinal cannabis.
The momentum for the use of cannabis in pharmaceutical products is clear as doctors and patients alike around the world are discovering that medical cannabis can be used to safely ease ailments associated with a variety of medical conditions. From nausea caused by chemotherapy to joint pain caused by rheumatoid arthritis, medical cannabis has the capability to help patients feel significantly better. Cannabis is currently being used to help ease conditions associated with conditions including chronic pain, cancer, multiple sclerosis and many other life altering illnesses.
This is only the beginning and HPC is leading the way as one of the pioneers in the Greek Medical Cannabis space.
Hellenic Pharmaceuticals Corporation IKE was established in 2019 in order to become Greece’s largest pharmaceutical company in the Medical Cannabis market. In August 2022 the company successfully obtained its first Governmental Licence and is now moving forward to create a Vertically Integrated Manufacturing Facility for pharmaceutical Cannabis final products in the municipality of Kilkis, just outside of Thessaloniki in Greece.
The company has already contracted and bought over 300.000 m2 of prime land of which over 100.000 m2 is the subject of licensing for this activity. The plot will be built out in various stages in order to align itself with global demand and economies of scale. The balance of the land will be used for non-licensable purposes.
This unique facility will have the distinctive advantage of being EU-GMP, GACP, GDP compliant. High grade cannabis and pharmaceutical-grade cannabis will be grown and processed to create finished pharma products, including oil drops for oral use, gels and dry, raw inflorescence for various uses. All products will meet the stringent regulatory requirements and will have passed any and all required QC laboratory testing.
The mission is to become one of the leading producers of the highest quality pharmaceutical Cannabis products in the European market. The company will operate under one of the most cutting edge security environments in the world.
This project is the brain-child of a third generation entrepreneur who’s family has been involved in various construction and Real Estate businesses in a number of different countries for the past 70 years and he is now using his knowledge, global contacts and expertise to enter the world of pharmaceuticals by capitalising on his business know-how and combining it with hired financial, corporate, marketing and selling assistance. Finance is being provided by various banks as loans to the company.
He is supported by a highly professional local team of lawyers, accountants and civil engineers. A CEO has recently been appointed to drive the company forward alongside a Financial Operations Specialist and a Medical Cannabis Operations Specialist.
The company will be creating 100 jobs in the Kilkis area in just Phase 1 as well as 12 new jobs in Athens. One of the core activities of the company will be in Research and Development into medical cannabis and its uses in modern day medicine.
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Main Office: Leontos Sofou 8, GR – 54625 Thessaloniki, Greece
Athens Office: Valaoritou 4, GR – 10671, Kolonaki, Athens,Greece