RNS: New European Sales Contract
Celadon Pharmaceuticals Plc are thrilled to share that we have entered into a significant sales contract with a leading European medicinal cannabis company for the commercial supply of our pharmaceutical-grade cannabis product.
This contract, valued at up to £26 million over three years, marks a pivotal step in our journey, with potential extension options. Our first delivery for this contract is anticipated in H2 2024, underscoring our commitment to growth and expansion in the European market.
Our progress in 2023 has been exceptional, with two previous UK contracts adding to our portfolio. This latest achievement is not just about financial growth; it underscores the trust in our quality standards and advanced cultivation techniques. We believe we are one of only a few global entities with approvals for EU-GMP grade high-THC medicinal cannabis production, setting us apart in the industry.
As we continue to engage in promising discussions to convert further interests into commercial contracts, this contract serves as a testament to our rigorous manufacturing standards and strategic approach to addressing the challenges in the medicinal cannabis sector.