Flora Growth Corp. Targeting $4 Billion Market, Launching Parallel Import Business in Germany

Core Insights - Flora Growth Corp. is launching a parallel import business in Germany and the European Union, aiming to tap into a $4 billion market [2][6] - The company has appointed Dr. Manfred Ziegler as Managing Director, who has a strong background in pharmaceutical distribution [3] - The parallel import business will focus on providing affordable pharmaceuticals while complying with EU regulations [4][5] Company Strategy - The PI Business will initially target Germany, the largest market in Europe, with plans for future expansion into other EU member states [6] - The company aims to enhance product availability and affordability, contributing positively to its overall turnover and bottom line [6] Market Context - Germany's parallel import business, including exports, is valued at nearly $4 billion, with 47% of exports to EU countries originating from Germany [6] - The parallel import model allows for sourcing products from countries where they are cheaper, benefiting consumers with lower prices [7]