STENOCARE A / S
NASDAQ FIRST GROWTH MARKET IN THE NORTH, DENMARK
TICKER: STENO
Reference is made to today’s formal announcement that STENOCARE has been approved by the Danish Medicines Agency to once again sell medicinal cannabis oil under the Danish Pilot Program. This press release serves as an elaboration of the perspectives.
Unique supplier once again: After a long period of tireless work and continuous cooperation with the Danish Medical Agency, STENOCARE can once again benefit from being the first and only supplier of medicinal cannabis oil under the Danish Pilot Program. . With effect from today, the new product is the only oil product approved under the regime.
Rapid acceleration of sales: During 2018 and 2019, STENOCARE became the first and only one to supply three medicinal cannabis oil products under the Danish Pilot Program. The number of patients grew rapidly from 300 to about 1100 after the introduction of petroleum products. After starting sales in 4Q-2018, STENOCARE was able to publish its first quarterly report with a profit after only five months of sales in 1Q-2019, with revenues of 4.4 MDKK and operating profits of 1 .5 MDKK.
See Figure 1.
Lesson learned: Following the withdrawal of previously approved products, the market experienced a significant decline in total market sales to levels prior to the first introduction of STENOCARE petroleum products into the Danish market. This is an important indication that oil products are in high demand, subject to availability.
No alternatives: At no time has any oil product other than STENOCARE been approved or introduced, and now STENOCARE is once again the sole supplier of oil products for the Pilot Program.
The wait is over: The new product is expected to be available to patients during the first quarter of 2022 pending international import and export certificates.
STENOCARE also works with the Danish Medicines Agency to have two oil products approved for the Pilot Program, and the products are a CBD oil and a mixed THC-CBD oil.
See image 1.
CEO Thomas Skovlund Schnegelsberg explains:
“Today’s announcement strengthens our position as the first and only supplier of cannabis oils in the Danish pilot program. This underlines our position as a clear market leader in Denmark. It also makes STENOCARE more of a European leader. , as the Danish regulatory regime is recognized as the most difficult to overcome in Europe, and probably in the world, today I will celebrate this great achievement with our fantastic regulatory team and the highly qualified and experienced people of AgMEDICA, our supply partner. “.
For more information, please contact: Thomas Skovlund Schnegelsberg, CEO
Phone: +45 31770060 | Email: presse@stenocare.com | www.stenocare.com, www.stenocare.dk, www.stenocare.se
STENOCARE Certified Advisor is Keswick Global AG, Phone: +43 1 740 408045, Email: info@keswickglobal.com
About STENOCARE A / S: STENOCARE was founded in 2017 with the purpose of supplying medical cannabis to patients in Denmark and internationally. The company was the first to receive permission from the Danish Medicines Agency to import, distribute, cultivate and produce medicinal cannabis. STENOCARE obtains its products from a number of carefully selected high quality international suppliers and operates a state-of-the-art cultivation facility unique and inland in Denmark, which has multiple levels of redundancy to safeguard quality and uniformity in a pesticide-free production process. .
https://news.cision.com/stenocare/r/stenocare-is-the-only-supplier-of-medical-cannabis-oil-under-the-danish-pilot-programme,c3482440
https://mb.cision.com/Main/17551/3482440/1517951.pdf
https://news.cision.com/stenocare/i/figure-1-danish-market-for-medical-cannabis,c2997912
https://news.cision.com/stenocare/i/picture-1-stenocare-agmedica,c2997913
(c) Cision 2022. All rights reserved., source Press Releases – English
