Curity Pharma, a leading Greek cannabis operator, has officially received government approval to commence cultivation, marking a significant step forward for Greece’s medical cannabis industry.
Major Investment in Greek Cannabis Cultivation
The Athens-based company has invested €20 million ($21 million) into a state-of-the-art facility spanning 67,000 square meters (219,816 square feet) in the Larissa Industrial Park. This milestone strengthens Greece’s standing in the European pharmaceutical sector, positioning the country as a key player in medical cannabis production.
“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,” Curity Pharma stated in its press release.
Regulatory Approval & Immediate Operations
Three Greek ministries granted Curity Pharma’s cultivation and production license:
- Development and Investment
- Health
- Rural and Food
With official approval secured, Curity Pharma announced that operations at its facility will begin immediately, accelerating its mission to supply high-quality medical cannabis to European markets.
Greece’s Growing Role in the European Cannabis Market
Curity Pharma’s CEO, Manos Chatiras, emphasized that the new facility is part of a broader export strategy to position Greek medical cannabis as a leading supplier across Europe.
Greece has increasingly attracted global investors since legalizing cannabis production in 2018, thanks to its ideal climate, low labor costs, and competitive energy prices. Industry experts view this as part of a larger trend where Southern European nations, including Greece, are emerging as key cannabis cultivation hubs.
A 2020 study found that a 1-hectare (2.5-acre) cannabis cultivation operation in Greece could generate €7 billion in net profits over 10 years from an initial €5 million investment—highlighting the sector’s massive potential.
Looking Ahead
As Curity Pharma begins operations, its expansion underscores Greece’s growing influence in the European cannabis industry. With strong government backing and a strategic export plan, the company is set to play a pivotal role in shaping the future of medical cannabis production in Europe.
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