STENOCARE A/S NASDAQ FIRST NORTH GROWTH MARKET, DENMARK TICKER: STENO Today, Monday May 16, 2022, STENOCARE delivers the first product batch of their THC Oil to the Danish market. This means that the product is once again visible in medicinpriser.dk and that all Danish pharmacies can sell the products starting today.
STENOCARE has been working intensely with its Canadian partner, AgMEDICA Bioscience, and with The Danish Medicines Agency to have the new medical cannabis oil product accepted into the Danish Pilot Programme for medical cannabis. The license to sell was received in January this year and with today’s first delivery of STENOCARE’s new medical cannabis oil product to the market, medical cannabis oil products are once again available to Danish patients under the Danish Pilot Programme.
This important milestone marks the end of the suspension of sales on the Danish market that commenced in September 2019. Before then, STENOCARE was the first and only supplier of medical cannabis oil products during in the Pilot programme. With today’s delivery, STENOCARE is once again the only supplier of medical cannabis oil products to the Danish market under the Danish Pilot Programme.
Today’s delivery of the first batch represents sales value of around 0,5mDKK and is supplemented by already ongoing revenues relating to the Swedish market. This is part of the gradual building up of sales, that the company guided will reach a quarterly level of 4-5 mDKK by the end of Q4 2022.
CEO Thomas Skovlund Schnegelsberg elaborates: “Today is an extra special day. We have delivered the first product batch to the Danish market, and our sales can begin once again. It has been more than two years of hard work for our regulatory team to reach this fantastic milestone. The fact that no one else has managed to have a medical cannabis oil product approved during this period underscores the high barriers for approval that apply in the Danish market, and therefore our team can be extra proud with our delivery today”