Aphria (TSX: APHA) (NYSE: APHA) said that Aphria Deutschland GmbH subsidiary introduced its first CBD-based nutraceutical and cosmetics line in Germany.
The newly-launched brand, called CannRelief, is made of CBD derived from hemp. It is being produced in the European Union and will be distributed by Aphria subsidiary CC Pharma, which serves more than 13,000 pharmacies throughout Germany.
“We are excited to introduce our first brand of CBD products for the German nutraceutical and cosmetics market,†Aphria President Jakob Ripshtein said in prepared remarks. “Supported by our extensive distribution network through CC Pharma, CannRelief provides a natural extension to Aphria’s growing business opportunities in the German medical cannabis market.â€
The CannRelief CBD oils are offered in both a 5% and 10% CBD concentration and can be found in select stores across Germany, according to Aphria.
The company plans to roll out more CannRelief products, including creams, serums and masks, this year in phases. Ripshtein noted that the company is preparing to launch “a full range of CannRelief CBD products this year.â€
“Aphria continues to execute on its strategic growth initiatives in Germany. We believe we have tremendous momentum in Germany and across our international business as we continue to strengthen our global footprint,†Ripshtein added.
Meanwhile, Aphria shares have been trading well on the New York Stock Exchange this year so far. Since the beginning of the year, the company’s stock has moved up more than 55%.
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