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    STENO   DK0061078425

STENOCARE A/S

(STENO)
Delayed Nasdaq Copenhagen  -  05/20 06:16:47 am EDT
11.00 DKK   -3.34%
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Stenocare A/S : Good news for the Danish medical cannabis patients and for the industry

05/25/2021 | 03:26pm EDT

STENOCARE A/S ("STENOCARE") applauds the Danish Parliament decision to a) extend the Pilot Programme that allow Danish doctors to prescribe medical cannabis and b) to permanently allow local cultivation and production of medical cannabis. This is very good news for patients and the industry.

Prescription: The Danish Parliament today made the decision to extend the Pilot Programme for prescription of medical cannabis with another four years, when the current Pilot expires on 31th of December 2021. This will allow all doctors to continue prescribing medical cannabis products to their patients regardless of illness (ie. indication). The agreement also outlines, that Parliament will debate the levels of patient cost coverage or refund during the Autumn assembly.

Cultivation: The decision today also makes Danish cultivation and production of medical cannabis permanent beyond the expiration of the current Pilot in December 2021. With this decision, Denmark formally continues its ambition to become a leading producer of medical cannabis with an intention to serve both the home market and international markets.

Still very strict: It is also worth mentioning that the pharma grade requirements of the Danish Medicines Agency (Lægemiddelstyrelsen), known to be probably the strictest of any nation, will continue to apply to the Danish operators within Medical Cannabis, including both imports and local cultivation. This means that the Danish medical cannabis industry will continue to be an international quality leader, setting the highest possible standards and securing the best possible products for and treatment of patients.

Good news: Today's agreement is good news for the entire Danish medical cannabis industry and ecosystem as it is likely to attract further investments and stimulate the drive towards making Denmark a leading nation within high quality medical cannabis. The agreement made today has the support of the needed political votes, and the parties have made commitment to formally pass the detailed agreement in Parliament during the Autumn 2021 assembly.

Thomas Skovlund Schnegelsberg, CEO of STENOCARE is commenting:

"Today is an important milestone for Danish patients and for the Danish medical cannabis industry. The Danish Parliament has decided to continue the Pilot Programme for patient's treatment with high quality medical cannabis until 2025, and at the same time made the law for Danish cultivation and production permanent. With this decision, Denmark is now on a path to become a leading producer of medical cannabis for patients in Europa and be an important part of the hyper-growth expected in the coming years."

For additional information regarding STENOCARE, please contact:

Thomas Skovlund Schnegelsberg, CEO          Phone: +45 31770060            E-mail: presse@stenocare.com

About STENOCARE A/S

STENOCARE A/S was founded in 2017 with the purpose of supplying high quality medical cannabis to patients in Denmark and internationally. The company was first to receive the Danish Medicines Agency's license to import, distribute as well as cultivate and produce medical cannabis. STENOCARE has built a unique supply chain by partnering with selected international cultivators in order to secure supply and live up to the strict Danish regulations facing imported products. Also, STENOCARE is building a state-of-the-art production facility for cultivation and production of medical cannabis at the company's premises in Jutland, Denmark. STENOCARE's has become recognized as an early European market leader and is in the process of expanding its market reach to a number of primarily European countries.

www.stenocare.dk        www.stenocare.com       www.stenocare.se

 
 

https://news.cision.com/stenocare/r/good-news-for-the-danish-medical-cannabis-patients-and-for-the-industry,c3352953

https://mb.cision.com/Main/17551/3352953/1422514.pdf

(c) 2021 Cision. All rights reserved., source Press Releases - English

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Financials
Sales 2021 1,89 M 0,27 M 0,27 M
Net income 2021 -12,7 M -1,81 M -1,81 M
Net cash 2021 10,5 M 1,49 M 1,49 M
P/E ratio 2021 -9,49x
Yield 2021 -
Capitalization 130 M 18,3 M 18,5 M
EV / Sales 2020 996x
EV / Sales 2021 56,9x
Nbr of Employees -
Free-Float 59,1%
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Managers and Directors
Thomas Skovlund Schnegelsberg Chief Executive Officer
Peter Bugge Johansen Chief Financial Officer
Marianne Wier Non-Executive Chairman
S°ren KjŠr Chief Operating Officer
Jeppe Bo Petersen Independent Non-Executive Director