MGC Pharmaceuticals will be Malta’s first medicinal cannabis company to start operations

The company will be investing €11 million in a state-of-the-art facility in Hal Far

MGC pharmaceuticals will be investing €11 million in a state-of-the-art facility in Hal Far
MGC pharmaceuticals will be investing €11 million in a state-of-the-art facility in Hal Far

MGC Pharmaceuticals will be the first medicinal cannabis company to start operations in Malta.

The company signed a memorandum of understanding with the Maltese government on Thursday, that will see it invest around €11 million in state-of-the-art facilities at the Hal Far industrial estate.

The company will be manufacturing “life-saving” medicinal cannabis products, and will use is Maltese base as a gateway to European and international markets.

MGC Pharmaceuticals will also be carrying out research and development activities in the field of medicinal cannabis, bioscience, chemistry, agronomy and clinical research. 

“Today, Malta has a global reputation for being a high-quality hub for the pharmaceutical industry. However, investors are also becoming increasingly optimistic about the opportunities the island offers in emerging areas such as the medical cannabis industry,” Economy Minister Chris Cardona said following the signing.

He said the investment was only possible thanks to the recently enacted legislation which allows for cannabis to be produced for medical and research purposes. 

“Having been the first country in the EU to provide a regulatory framework, we have been able to attract the best investment to our country, with the sector already contributing to economic growth,” Cardona said. 

The investment will create 27 new jobs by its third year of operation, Cardona said.  

Nativ Segev, founder and director of MGC Pharmaceuticals, said that the agreement represented the company’s ambitions of centralising its operations on the island.

“We want to be a part of this island nation’s drive to become a beacon in Europe for the growth and development of this industry,” Segev said. 

MGC Pharmaceuticals’ website states that the company prides itself in undertaking ground breaking research, forging strategic agreements with leading academia and developing high quality products for its consumers. 

It says that its team believes that “phytomedicines will influence public wellbeing across the globe by successfully treating formerly unmet medical requirements and drastically improving the lives of patients”.

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