LGP has been granted a product registration for its ‘Billinol LGP’ 16% THC cannabis flower medicine by the Danish Medicines Agency, the company said in a statement.
The Billinol product will be cultivated and produced at LGP’s Danish facility. It will be the first cannabis medicine produced in Denmark under product registration.
SEED – which invests in medical cannabis, health and wellness businesses – owns a 3.1% interest in LGP.
“I believe this has significant symbolic value being ‘made in Denmark’, by virtue of being the first Danish flower to be available to patients in Denmark, broadening access and proving that the local medical cannabis programme works not just to export but also domestically,” commented Alfredo Pascual, vice president of investment analysis at SEED.
Following a two-and-a-half-year application process, LGP is just the second supplier to have registered flower medicine in the Nordic country.
The products are anticipated to be distributed before the end of the year which reinforces LGP’s strategy of being the first to market in key territories, allowing a swift build-up of a brand reputation for excellent products with new market participants, the company said.
LGP has previously utilised this approach in France and Australia, as well as hoping to replicate it in Poland in the coming years.
Swedish, Finnish, and Norwegian patients that have been medically prescribed cannabis can access locally sourced Danish cannabis.
SEED shares rose 0.4% to GBP6.36 on Tuesday.