Canadian medical cannabis producer Nuuvera has acquired Malta-based laboratory ASG Pharma, one of few Maltese Good Manufacturing Practice labs. ASG Pharma is expected to be one of Nuuvera’s hubs for medical cannabis oil production and distribution.
“It is clear that Malta specifically and the European Union generally intend to make consumer protection a priority, and this approach aligns perfectly with our vision to create a center of excellence in Malta for the production and distribution of pharmaceutical grade cannabis products. To that end, ASG Pharma will adhere to the highest international standards for processing and extraction, distribution and security protocols.” – Nuuvera CEO Lorne Abony, in a press release
Nuuvera is the only standalone medical cannabis company GMP-approved by Health Canada.
Last month, Aphria Inc. announced it would acquire Nuuvera for $826 million as part of its expansion efforts into Europe, Africa, and the Middle East. The deal still needs final approval from Canada’s Superior Court, two-thirds vote from Nuuvera shareholders, and approval from the Toronto Stock Exchange.
In addition to its footprint in Malta, Nuuvera has relationships in Germany, Italy, the United Kingdom, Spain, Israel, Lesotho, and Uruguay.
According to a Malta Today report, ASG Pharma has just four shareholders who each own a 25 percent stake in the firm.