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Fette Pharma Completes Restructuring Under New Investor Consortium
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Fette Pharma GmbH, a medicinal cannabis distributor based in Egelsbach, Hesse, has reported the completion of a strategic restructuring undertaken since an investor consortium led by entrepreneur Jörg Löser acquired the company in September 2025. The transfer ended six years of ownership by Frankfurt-based Salis Holding GmbH and replaced the company’s prior management with Löser and Maik Dobiey, who now serve as joint managing directors. The change of shareholders is recorded in the Handelsregister entry for Fette Pharma at the Amtsgericht Offenbach am Main (HRB 51669), which lists the new shareholder roster as of 11 September 2025 and the termination of the prior profit-transfer agreement with Salis Holding earlier the same year.
The restructuring is a corporate event rather than a regulatory one. Fette Pharma’s authorisation to handle medicinal cannabis derives from the federal framework administered by the Bundesinstitut für Arzneimittel und Medizinprodukte (BfArM), and that authorisation sits with the legal entity, not with a particular shareholder. A change of ownership at the GmbH level does not, on its own, alter the company’s licence to import, store, or distribute medicinal cannabis to German pharmacies.
Where the Distribution Licence Sits
Since 1 April 2024, medicinal cannabis in Germany has been regulated under the Medizinal-Cannabisgesetz (MedCanG), a separate statute enacted alongside the Konsumcannabisgesetz (KCanG). Under §4(1) MedCanG, anyone who cultivates, manufactures, trades, imports, exports, delivers, or places medicinal cannabis on the market requires a general licence from BfArM; under §12 MedCanG, an additional permission is required for each import. The framework replaced — but largely carried forward — the licensing regime previously set out in §3 BtMG, the Narcotics Act provision under which medical cannabis was handled before the 2024 reform.
The 2024 reform did not create the German medical cannabis market. That market was created earlier, by the Cannabis as Medicine Act, which entered into force on 10 March 2017 and amended the BtMG to allow physicians to prescribe pharmaceutical-grade cannabis without an individual BfArM exemption, while amending §31(6) SGB V to set the conditions for statutory health insurance reimbursement. Fette Pharma has operated as a supplier into the German medical cannabis distribution channel — pharmacies and medical facilities (DR.TO ) filling those prescriptions — since the 2017 framework took effect.
The MedCanG preserved the licensing core: BfArM remains the competent authority for medicinal cannabis, and cultivation, import, and distribution remain subject to its general licence. BfArM is not responsible for the parallel KCanG regime governing non-medical possession and cultivation associations, and the adult-use pilot framework contemplated under “Pillar 2” of the 2024 reform has not been enacted.
What Has Actually Changed at Fette Pharma
The company has stated that the restructuring covered its supply chain, quality assurance processes, and distribution infrastructure, and that its product portfolio remains EU-GMP and GDP certified. The RE:CANNIS line, launched in December 2022, sources flower and extract product from Israeli cultivator Cannbit Pharmaceuticals; that supply relationship has been preserved through the ownership transfer, according to the company’s announcement.
Fette Pharma has also repositioned itself as what it describes as a market-entry partner for international cultivators seeking access to German pharmacies, offering EU-GMP and GDP logistics, supply-chain support, and direct pharmacy access without broker intermediaries. That positioning is a commercial claim, not a regulatory one. Any cultivator using Fette Pharma as a route to the German market still requires a separate BfArM import permission under §12 MedCanG and remains subject to the GMP and quality-control requirements BfArM enforces. A distribution partnership does not transfer regulatory liability.
The wider context for the announcement is the European M&A environment that has accelerated through 2025 and into 2026. Aurora’s acquisition of Safari Flower and Organigram’s (OGI ) closing on Sanity Group both targeted EU-GMP-certified European supply capacity. Fette Pharma’s restructuring is not in that category — no acquisition by a publicly listed multinational was announced — but it reflects the same underlying judgement that the German medical cannabis distribution channel, supplied predominantly by import, is where commercial value currently sits. German cannabis-licensing practice consistently identifies BfArM-licensed import and distribution capacity, not domestic cultivation, as the operative bottleneck for international suppliers.
The regulatory question hanging over that channel is the draft bill the Bundesministerium für Gesundheit (BMG) published on 18 June 2025, proposing MedCanG amendments that would ban postal-order dispense of medicinal cannabis and require in-person physician appointments. The draft bill has not been enacted. It was issued under the CDU/CSU and SPD coalition that took office in May 2025 and is the first concrete output of the open-ended evaluation of the 2024 legalisation that the coalition agreement scheduled for autumn 2025. Whether the amendments are introduced as legislation and enacted will materially affect the distribution channel Fette Pharma serves, particularly the telemedicine and mail-order segment that has driven much of the post-2024 prescription volume.
For Fette Pharma, the operative regulatory state after the restructuring is unchanged: the company holds a §4 MedCanG general licence, must obtain §12 MedCanG permission for each import, and is subject to BfArM monitoring on quality and supply-chain compliance. Absent enactment of the BMG’s June 2025 draft amendments or further changes to the MedCanG, the present licensing landscape will hold. The announcement confirms a stabilised corporate structure and revised commercial focus; it does not change the conditions under which the company operates or the framework under which any prescription dispensed against its supply must be written.
