European market milestone for Rua Bioscience

A109 Light Utility Helicopter flight with mayor Gisborne City from the air in November 2023.

Tairawhiti-based Rua Bioscience has launched its first medicine in Germany, making it one of the first companies of its kind in New Zealand to introduce a branded product in Europe’s largest medicinal cannabis market.

Rua Bioscience chief executive Paul Naske, is delighted to have achieved such a critical commercial milestone.

“Launching in Germany has been a long-held and, frankly, ambitious goal for the company.

“We’re delighted to supply German patients with GMP (good manufacturing practice)-quality medicines and look forward to further establishing Rua’s presence in Germany.”

The medicinal cannabis product, a high THC flower, has been developed through an extensive research and development programme by Cann Group, Rua’s Australian manufacturing and supply partner.

“Rua’s unique export-led strategy positions us as somewhat of an outlier in the New Zealand industry, but positions us well globally,” Mr Naske said.

“Our desire to create opportunity here on the East Coast, our key international partnerships and our local investment in genetic discovery each enhance our ability to access and service high-value medicinal cannabis markets around the world.”

A company statement said analysts expect the German medicinal cannabis market to be worth around $700 million and to have grown to 147,000 patients by the close of 2023.