Breakthrough in Pain Relief: World’s First Cannabis-Based Painkiller Approved in Germany
A significant milestone has been achieved in the medical cannabis industry, as a German pharmaceutical company, Vertanical, has received approval from the country’s Federal Institute for Drugs and Medical Devices to market Exilby, a cannabis-derived oral tincture for treating chronic pain. This milestone marks a major step forward in the development of cannabis-based medications, which could potentially revolutionize the way chronic pain is managed.
Exilby, which is set to hit the market this fall, has been shown to be more effective than both opioids and placebos in treating chronic pain. The company’s CEO and co-founder, Clemens Fischer, has stated that the approval was the result of a “hard, hard fight,” as Exilby is the first cannabis-derived medication specifically approved to treat chronic pain.
The market potential for Exilby is enormous, with approximately 20 million opioid prescriptions written in Germany each year, and between 6 million and 7 million potential patients. The company has also received marketing approval in Austria and plans to apply for approval in the United Kingdom and throughout the European Union.
Fischer, a 50-year-old billionaire, emphasized the importance of the U.S. market, stating that it is the “most important” and where the demand should be highest. The company has no plan B, and Fischer is committed to making Exilby available to patients in the U.S. as soon as possible.
This breakthrough has the potential to change the way chronic pain is managed, offering patients a safer and more effective alternative to opioids. As the medical cannabis industry continues to evolve, Exilby’s approval is a significant step forward in the development of cannabis-based medications.
