Remexian Reports 49% Volume Growth One Year After High Tide Acquisition

Remexian Pharma GmbH, Germany's leading medical cannabis wholesaler, reported a 49% year-over-year increase in distributed volume to 7.6 tonnes in the second fiscal quarter of 2026, one year after Canadian cannabis giant High Tide acquired a 51% stake. Managing Director Stefan Adomeit expressed empathy for patients affected by the halt in flower reimbursements but said the impact on Remexian is limited because its focus is on self-paying patients. The company generated $31.6 million in revenue during the quarter, up from $25 million in Q1 2026.

Remexian Pharma GmbH, based near Berlin, distributed 7.6 tonnes of medical cannabis into the German market during High Tide's second fiscal quarter of 2026, ending April 30, marking a 49% increase compared to the same period last year. This performance generated revenues of $31.6 million, up from $25 million in the first quarter of 2026.

The growth comes one year after Canadian cannabis company High Tide acquired a 51% stake in Remexian. Stefan Adomeit, co-founder and managing director, said the partnership has been positive despite initial reservations. "We had some reservations when a huge Canadian company approached us to buy us because we are small. We still are around 35 employees, and High Tide has 2,000 employees, much bigger, and we had our reservations. But so far we are happy, I must say. We work closely," Adomeit said.

Remexian supplies around 100,000 of Germany's 800,000 medical cannabis flower patients. At the start of August 2026, reimbursements for cannabis flowers through the state health-insurance programme were halted as part of a government cost-cutting drive and a preference for finished pharmaceutical products. Adomeit expressed empathy for the approximately 65,000 reimbursed patients impacted, saying, "There's a lot of confusion, and patients are asking themselves, 'Can I actually afford to treat myself with that product or not?' Because they lost their reimbursement for flowers, and that's a sad situation."

However, Adomeit said the impact on Remexian's business is limited because the company focuses on self-paying patients with affordable flower. "For our business, we are selling low-price flower, affordable flower, so our main focus are the self-paying patients, not reimbursed patients. We don't see a huge effect on our business," he said.

Remexian imports from 22 countries, with Canada as the primary supplier, followed by Portugal and South Africa. The company competes with about 80 companies in the German market, where pharmacy medical cannabis is priced at around €5 per gram, substantially lower than black market flower ranging from €8 to €10. The main indications for its products are pain and sleep.

Looking ahead, Adomeit remains cautious about the price-intense market. "We are in a very price-intense market right now (with) a lot of imports, so selling prices have gone down a lot. But, so far, we are doing fine," he said. He also commented on the trend toward finished pharmaceutical products, such as Vertanical's upcoming oral extract for lower back pain, saying he doubts it will be a substitute for flower due to different onset times, but believes such products will take more market share over time.