Greek cannabis operator Curity Pharma secures cultivation license

Greek cannabis operator Curity Pharma has been awarded a government operating license for a cultivation operation in the country.The Athens-based company has invested 20 million euros (roughly $21 million) in the facility, which spans 67,000 square meters (219,816 square feet) in the Larissa Industrial Park, according to a Tuesday news release.

ADVERTISEMENT “This marks a major milestone in our journey to deliver innovative, high-quality pharmaceutical solutions and further strengthen Greece’s position in the European pharmaceutical industry,” the company said in a statement.Operations at the combined cultivation and production facility can begin “immediately,” according to the release.

Curity’s license was approved by three Greece ministries: Development and Investment.Health.

Rural and Food.Manos Chatiras, Curity’s co-founder, CEO and chair, said in a statement emailed to MJBizDaily that the newly licensed operation is part of a broader “export plan to establish Greek medical cannabis as a reference point across Europe.” ADVERTISEMENT The move underscores what some observers perceive as a trend in European cannabis production toward southern European locations such as Greece, which attracted a flurry of investment after cannabis production was legalized in 2018.

With a favorable climate combined with relatively low labor and energy costs, Greece is understood to be a prime location for cannabis production, which government ministers have been promoting for the past six years.According to a 2020 study, a cultivation operation of 1 hectare (2.5 acres) in Greece could reap 10-year net profits of 7 billion euros on a 5 million-euro investment.

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