Máyla entered the fight to control the Spanish medical cannabis market

Based in Barcelona, Máyla Pharmaceuticals has managed to become one of the leading pharmaceutical laboratories and will launch its new product Cannabiben. Máyla distributes all its products exclusively through the pharmacy channel, in addition to providing total coverage within Spanish territory since it is present in almost all the pharmacies on the peninsula and its islands.

The Spanish laboratory Mayla will soon launch Canabiben, a product containing cannabidiol (CBD) which acts as an anti-inflammatory and relaxing substance. In this way, Mayla entered the competition to control medical cannabis.

The product will be launched during February this year and will come in two different presentations: in cream and capsules, both with the same name. The cream, which will be sold in a 60-milligram format, contains Cannabidiol (CBD), which acts as an anti-inflammatory and relaxing substance. In addition, it includes Harpagophytum and Arnica extracts, which among other functions serve as decongestants, and calmatives.

The capsules will be sold in a box containing two blister packs of fifteen pills each. These tablets are composed of Cannabis Sativa Oil, which acts as an anti-inflammatory, cinnamon extract, and vitamins B1, B6, B12, E, and D3.

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Distribution of products exclusively through pharmacies

The unit sales price of the cream will be $8.16 (€7.5), and a box with capsules will cost $12.52 (€11.5). With both products, pharmacies will have a profit margin of 44%, according to industry sources. In addition, the laboratory offers pharmacies the possibility of acquiring a promotional display containing five units of each presentation at a laboratory sales price of $83 (€76) and with the same profit margin.

Máyla is based in Barcelona and distributes its products exclusively through pharmacies, with a presence throughout Spain. The company is also present in several countries in Asia and America.

Máyla distributes all its products exclusively through the pharmacy channel, in addition to providing total coverage within Spanish territory. (Source)

$3,6 million profit in 2018

Mayla CEO is Eugen Antohi, who has been in charge since the company’s founding in 2012. Previously, he led the consumer healthcare area at A&D Pharma and was responsible for Romania, Bulgaria, Ukraine, and Spain at Walmark, another company that manufactures and distributes consumer healthcare products.

The laboratory earned $3.6 million (€3.3 million) in 2018, 14.8% less than the previous year, when it had a turnover of $4.2 million (€3.9 million), according to the latest accounts available in the commercial register. The company recorded a loss of $ 623.006 (€572.645) in 2018.

Cannabidiol (CBD) less known than tetrahydrocannabinol (THC)

Cannabis has been popular so far for its psychoactive and narcotic properties. These effects are produced by one of its components, tetrahydrocannabinol (THC), which in addition to altering people’s brain has also proved to be very effective in the treatment of diseases such as multiple sclerosis or epilepsy. In fact, Almirall markets in Spain a THC-based drug for multiple sclerosis called Sativex.

However, it is less known that cannabis contains cannabidiol (CBD), a component that has no psychoactive effect and yet has multiple therapeutic properties. Cannabiben bases its efficacy on precisely this compound, as does Cannabix sold by Uriach.

The sale of CBD-containing products has become a great business opportunity. The Cannabix exceeded all Uriach’s expectations by billing in the first two months of life what the pharmaceutical company had planned for the whole year.

(Featured image by National Cancer Institute via Unsplash)

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Suzanne Mitchell

Suzanne Mitchell juggles the busy life of a full-time mom and entrepreneur while also being a writer-at-large for several business publications. Her work mostly covers the financial sector, including traditional and alternative investing. She shares reports and analyses on the real estate, fintech and cryptocurrency markets. She also likes to write about the health and biotech industry, in particular its intersection with clean water and cannabis. It is one of her goals to always share things of interest to women who want to make their mark in the world.