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Export deal for Rua Bioscience

Tairawhiti-based medicinal cannabis company Rua Bioscience has struck an export partnership deal with a German distributor.

The company told the New Zealand Herald it had secured a deal with Nimbus Health, an independent pharmaceutical wholesaler which specialises in importing and distributing pharmaceutical-grade medicinal cannabis products in Germany.

Rua Bioscience CEO Rob Mitchell said Germany was Europe's most mature medicinal cannabis market and he was proud to be the first company to announce a binding export agreement from there.

“We are aiming to fulfil the first exports under the partnership in the second half of 2021,” he said.

“While at this time we are not in a position to confirm specific quantities or the value of the agreement, it is likely to amount to a few hundred kilograms in the first year of operation to a few thousand kilograms within three years.”

The agreement means Rua Bioscience is Nimbus Health's exclusive New Zealand supplier.

“We are creating unique cannabis medicines together to serve the patient base in Germany more efficiently,” he said.

“This provides certainty for our production goals and signals international confidence in our ability to produce pharmaceutical-grade cannabis medicines.”