Swissmedic, the surveillance authority for medicines and medical devices, granted Linnea SA a narcotics license at the end of 2022.
This allows the company to help bring a pharmaceutical level of quality to this emerging cannabinoid industry, which is projected to grow from $28.26 billion in 2021 to $197.74 billion in 2028.
Linnea will begin producing GMP-certified high-THC active pharmaceutical ingredients (APIs) in 2023, becoming one of the first Swiss companies to do so, per a press release.
A narcotics license also allows Linnea to export their standardized and innovative high-THC APIs anywhere in the world where the importation of these products is legal.
“We are so honored to be granted a narcotics license in Switzerland, this opens up many new commercial possibilities for Linnea Cannabinoids and our customers,” Linnea CEO Susanne Caspar says. “High-quality cannabinoid ingredients are essential to producing the pharmaceutical products that patients need, and we are eager to contribute our expertise to this effort. We look forward to the opportunities this will afford us in creating new partnerships and continuing to innovate in the industry.”
Get your daily dose of cannabis news on Benzinga Cannabis. Don’t miss out on any important developments in the industry.
Image by El Planteo