Stenocare A/S announced that The new Stenocare medical cannabis oil product has received approval from the Federal Institute for Drugs and Medical Devices (BfArM) for prescription-based sales to German patients. With this, Stenocare is now entering Germany, the by far largest European market for medical cannabis. The new product will be available for patients in Germany as soon as possible, expected during August 2023.

Strong German partner in place and product approved and ready: Stenocare now expands into Germany with a local partner, ADREX Pharma, that specializes in development, production and marketing of medical cannabis products. The two companies have worked together intensively since 2022 to have a product approved for sales by the Federal Institute for Drugs and Medical Devices (BfArM). The new Stenocare medical cannabis oil product is called "AD 10-10 STENOCARE Extrakt".

The 30 mL product contains 10 mg/mL THC and 10 mg/mL CBD. It is expected that the product will be produced and made available ready for patients during August 2023. Largest market in Europe and reimbursement: Germany is the most mature market for medical cannabis in Europe with its large ecosystem of products, suppliers and distributors that serve the approx.

20.000 pharmacies and approx. 200.000 patients. However, only some of these products are covered by insurance.

The new Stenocare product will be reimbursed by the insurance companies which allows more patients to have access to treatment with the new Stenocare product. As much as entry into Europe's by far largest market is considered a major achievement, it is Stenocare policy to not publish market specific sales forecasts for competitive reasons.