Greece opens first Medical Pot production plant

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Greece opens first Medical Pot production plant

The plant is backed by an Israeli company.

History was made in Greece with the country inaugurating its first-ever medical cannabis plant last Thursday.

According to the Greek Reporter, the plant, which opened in the city of Corinth, is backed by an investment from Tikun Europe, a subsidiary of Israel-based medical cannabis company Tikun Olam.

Adonis Georgiadis, Greece’s minister for development and investments, heralded the opening of the plant as a milestone for the country.

Speaking at an event for the opening of the Tikun plant on Thursday, Georgiadis said that cannabis could be “a product which we will be able to export throughout Europe because this factory can carry out huge exports to all major European countries,” as quoted by the Greek Reporter.

According to the outlet, Tikun Europe CEO Nikos Beis hailed the new facility in Greece as “the largest pharmaceutical facility in the industry in Europe.”

“A new era is beginning for our country with the operation of our Tikun Europe facility, paving the way for Greece to become one of the main players in the field of production and export of medical cannabis products,” Beis said, as quoted by the Greek Reporter.

Greece legalized medical cannabis back in 2017, but the country’s government banned the import of such products in 2021, which effectively made it impossible for Greek patients to receive the cannabis treatment due to the lack of domestic production 

But that appears to be changing.

The country said last year that cannabis would soon be sold in pharmacies throughout Greece.

“The goal is for Greece to become the top European country in the production of medical cannabis. Greece’s environment is friendly for this particular plant and we think we will have a natural advantage,” Georgiadis told the Greek Reporter last year, which said that “foreigners will also be able to use medical cannabis in Greece” and will “be allowed to purchase it through pharmacies” so long as they have a prescription from their doctor.

The outlet reported at the time that Georgiadis anticipated “huge investments in the production of medical cannabis which the government hopes would add up to 1.5 billion euros ($1.67 billion) annually to state revenue.” 

The Greek Reporter has more on the facility:

“According to Tikun Europe, the plant can produce finished medicinal cannabis products in various pharmaceutical forms. The company aims in the immediate initiation of cultivation in the vertically integrated greenhouse unit, with an area of 21,000 m2 and an annual production capacity, reaching in full growth, the quantity of 10 tons of dry flower. The plants received will be used for propagation under strict protocols that will ensure the preservation of the unique characteristics of the mother plants to future generations. The facility is expected to reach its full capacity levels gradually in the near future, to deliver a wide variety of finished medical cannabis dosage forms.”

Tikun received its license to initiate operations on the facility last year. 

“It was a great pleasure to welcome the operating [license] of our production unit, the construction of which was recently completed,” Beis said in a statement at the time. “The operation of the plant will start very soon, bringing us one step closer to the [realization] of our vision: to meet the ever-increasing demand of Greece and Europe for high-quality medical cannabis products. Our factory is the largest pharmaceutical company in the specific industry in Europe and exploits the potential of our country to play a leading role in the global market for medical cannabis.”

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