Company News

SOMAÍ Pharmaceuticals Newsletter - April 2021

Europe’s cannabis market holds huge opportunity, and is undergoing a major shift. The first quarter of 2021 has seen massive developments in the commercial side of the industry in Europe. Some of the key events driving the cannabis industry forward this month: Curaleaf, one of the largest cannabis companies in the world, acquired European operator EMMAC for €288 million! This is the second biggest M&A after Jazz Pharmaceuticals that agreed to acquire the UK-based GW Pharmaceuticals for just under €6 billion.

By establishing SOMAÍ today in Portugal, we can be sure we will be ahead of the curve and be best placed to serve the demands of the EU marketplace as it expands.

Expert Interview: Michael Sassano, CEO SOMAÍPharmaceuticals

We are very proud of our continued support by Prohibition Partners and to be considered one of the top European projects slated for 2021. Please enjoy the latest copy of the Prohibitions Partners European Cannabis report which features SOMAÍ Pharmaceuticals.

Through this Expert Interview our CEO & Chairman, Michael Sassano, covers a broad range of topics, focused on medical cannabis in Europe and how SOMAÍ will dominate the market in terms of Manufacturing and Product formulation.

Link to free download the report here.

SOMAÍ highlights from this quarter include:

  • SOMAÍ started construction of our building on March 1st, 2021.
  • We are on target to ensure the facility is open by the end of the year and expect GMP building approvals by Q2 2022.
  • We already received our pharmaceutical industrial license; a significant development that wasn’t expected so early.
  • We have started our dossiers for primary API’s of crude, distillate and isolate and once completed will proceed to registering formulations initially of gel caps, drops and trans-dermal patches.
  • Our Sales & Distribution have reached over 500 companies, with 65 biomass suppliers in various stages of contract and 53 distribution deals in progress.
  • And the end game just got bigger, as we are in contract negotiations with a Swiss pharmaceutical company to be a cannabis joint venture and exclusive supplier of their fast absorption EU certified API.

Things that make us unique:

In case you missed our CEO and Chairman's, Michael Sassano, presentation on the virtual Benzinga Cannabis Capital Conference: Here is part #2 of his presentation, explaining what differentiates SOMAÍ Pharmaceuticals from others.

Benzinga Cannabis Capital Conference is the premier gathering of Cannabis Entrepreneurs and investors in North America, and was held on February 25 & 26, 2021.

You can watch the full video here.

Here are the latest articles from our CEO, Michael Sassano: