FRANKFURT, Germany, Dec. 11, 2018 (GLOBE NEWSWIRE) -- The Frankfurt-based pharmaceutical company Farmako is a research-based pharmaceutical company that distributes medical cannabis. The company is active in all European markets that have created a legal basis for cannabinoid therapies. It is the first company for medical Cannabis pursue distribution licences in multiple European countries. Fort hat, it will rely on EU-GMP certified suppliers.
The German market for medical cannabis is estimated at 19.1 million euros in 2018 and at 200 million Euros by 2019. For 2028, experts expect a market volume for medical cannabis of 7.8 billion euros in Germany, an increase by a factor of 400. The number of patients for cannabinoid therapies in Germany has grown from about 1000 patients in March 2017 to 13,000 patients in March 2018. By the end of 2018, the number of patients is estimated to be at 30,000. German health insurances currently approve about 65% of the requested therapies. For the whole of Europe, experts estimate the market for medical cannabis at 59.3 million Euros in 2018. By the year 2028, it is expected to grow to 55.2 billion Euros, thus increasing the market for medical cannabis by a factor of over 900.
Farmako plans to become a vertically integrated leader in every European country with a legal basis. Farmako already has branches in Germany and the United Kingdom. The company relies on medical cannabis and focuses on research to develop new pharmaceutical products such as capsules, oils or inhalers.
The Farmako founding team consists of Niklas Kouparanis, Mario Reichenbach, Sebastian Diemer, Marcus Ewald, Torsten Rössing and Patrick Schmitt.
Niklas Kouparanis was the second employee of one of the currently leading German companies for medical cannabis. He was instrumental in shaping the company as an authorized officer and responsibly supervised the first German-Canadian import certification. He is founder and shareholder.
Niklas Kouparanis: "With Canada and California, two huge markets have already revolutionized their healthcare. The German market alone is almost as big as these two together. Together, European markets will become the global powerhouse of medical cannabis."
Mario Reichenbach was one of the first employees of one of the first and largest companies in the German cannabis market. He has successfully established an exenplary business development there and is one of the experts in the industry.
Sebastian Diemer is often described as one of Germany’s most successful founders. He has already successfully set up five companies, creating more than 1,000 jobs and raising over € 300 million in venture capital. His companies always pursued a global focus. He is founder and shareholder.
Marcus Ewald gained experience founding and managing a strategic PR consultancy. He is the federal chairman of the Young Economic Council of Germany, he founded the Federal Blockchain Association and the Federal Association of AI. At Farmako, he directs public relations and public affairs. He is founder and shareholder.
Torsten Rössing gained experience founding and managing a strategic PR consultancy. He is the regional chairman of the German Public Relations Association in Hesse, Rhineland-Palatinate and Saarland. At Farmako, he manages regulation and privacy. He is founder and shareholder.
Patrick Schmitt is a molecular biologist and certified expert in pharmaceuticals and nutritional supplements. As a sought-after expert he has many years of experience in product development, patenting, assessment and consulting. His work has found expression in more than 500 products on the market as well as a large number of patents. At Farmako, he heads the R & D department. He is co-founder and shareholder.
Political Affairs, Public Relations & Co-founder
phone: +49 176 228 242 18
Neue Rothofstraße 13-19
Frankfurt am Main
Privileged/Confidential Information may be contained in this message. If you are not the addressee indicated in this message (or responsible for delivery of the message to such person), you may not copy or deliver this message to anyone. In such a case, you should destroy this message, and notify us immediately. If you or your employer does not consent to Internet E-Mail messages of this kind, please advise us immediately. Opinions, conclusions and other information expressed in this message are not given or endorsed by my firm or employer unless otherwise indicated by an authorized representative independent of this message.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/dd3c4718-9cd5-4655-ba3d-966e5e5f3226
A PDF accompanying this announcement is available at http://resource.globenewswire.com/Resource/Download/8444a68c-5131-4654-a499-bd2ebb3a1811