Australian medical marijuana company MMJ PhytoTech has generated its first revenues from sales of its cannabis pill.
The CBD (Cannabidiol) capsules, registered as a dietary supplement in Germany, started retailing in Europe in August for about 3 euros each ($4.70).
The company intends to produce a total 1 million of the Swiss-made capsules in 2015. The pills, only available in Europe, are sold online.
Cannabinoids are a class of chemical compounds from the cannabis plant. CBD is the non-psychoactive cannabinoid which is said to have positive health benefits without the intoxicating effect of tetrahydrocannabinol (THC).
Research indicates that CBD may have help chronic pain, cancer, anxiety, diabetes, epilepsy, rheumatoid arthritis, PTSD, sleep disorders, cardiovascular disease, antibiotic-resistant infections and various neurological ailments.
Tomas Edvinsson, CEO of Satipharm, said: “MMJ is very happy with this landmark accomplishment and we leave the month of August with significant momentum.”
A short time ago, the company’s shares were up more than 25% to $0.365.