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MGC Pharma has announced their intention to set up base in Malta after getting the green light from the government. Founder Nativ Segev told a press conference that his company plans to ‘provide live-saving medicine’ to patients globally, with Malta acting as a gateway to other European markets.
The company is investing around €11 million in Malta’s economy and according to Economy Minister Chris Cardonna, MGC Pharma will take over a 6,000 square meter facility in Hal Far.
MGC Pharma is one of the first companies to receive a letter of intent for the production of medical cannabis in Malta.
Cardona said that their decision to put down roots in Malta solidified the country’s position in the highly competitive medical cannabis industry, with Malta becoming one of the first member states to provide a stable regulatory framework for medical cannabis when they passed regulation last year allowing for the production of medical cannabis.
The law allows for the cultivation, importation, processing and production of cannabis and is intended for medical and research purposes within a controlled environment.