Launch of Australian and International Medicines Supply
February 9th, 2020
‘Canndeo’ branded medicines range being launched in weeks
- Full range of Canndeo medicines launching in Australia by end of Q1 2020 offering prescribers a higher quality lower patient cost alternative
- Pending licences, Canndeo Canada to supply cannabis to over 369,000 current Canadian patients
- Orders placed for importing crude cannabis extract to Australia for processing at Southport Facility
- Preliminary orders received from Canadian LPs to supply finished and bulk GMP medicinal cannabis products from the Southport Facility with first deliveries in second half of 2020
THC Global Group Limited (THC Global or the Company) (ASX:THC) is pleased to confirm the Company is soon to commence the international supply of medicines under the Canndeo brand in Australia and internationally.
Australian Launch of Full Range of Medicinal Cannabis Under Canndeo Brand
THC Global’s medicines range under the Canndeo brand, launching by the end of Q1 2020, will initially be four products including a full spectrum CBD medicine.
THC Global under the Canndeo brand will offer existing clinics and prescribers under the Special Access Schemes a high quality alternative to the current product available for prescription. The Company expects the Canndeo products to be well received by prescribers for its lower cost to patient and higher quality expectations.
THC Global expects that more of the Australian Government’s estimated 100,000 potential annual prescription demand for medicinal cannabis will come forward, attracted by THC Global being able to significantly lower cost to patient whilst offering a medicine of TGA pharma GMP standard.
THC Global has expanded its team which includes the appointment of a Senior Distribution Channel Executive and increases in support staff in medical and science. The Company has also launched an information portal for healthcare professionals in support of the Canndeo medicines.
Entering the Canadian Medicinal Cannabis Market
THC Global has submitted applications for licences enabling the Company to be a supplier under Canada’s medicinal cannabis regulations to patients with valid prescriptions for cannabis medication. Once licenced, THC Global will be supplying into the Canadian market under the Canndeo Canada brand. Product will initially be sourced through a white-labelling arrangement with a Canadian producer, with the intention to transition to Australian produced medicines following market establishment.
Canndeo Canada will target the over 369,000 Canadian medical client registrations accessing medicinal cannabis under existing valid authorities (as at September 2019, per Health Canada).
Commercial Scale Manufacture and Export of Pharma GMP Medicines
Following release of new guidance from the Australian Office of Drug Control in early January 2020, THC Global is now commencing the importation of crude cannabis extract from Canada into Australia. This crude cannabis extract will be further processed at the Company’s Southport Facility into pharma GMP medicines.
THC Global expects to receive its first shipment of crude cannabis extract within the coming weeks, enabling the completion of first GMP medicines using this material by the end of Q1 2020.
THC Global has preliminarily received orders from Licenced Producers in Canada to supply finished and bulk GMP product from the Company’s Southport Facility for delivery in the second half of 2020. Various import and export licences and permit applications are being prepared under mutual recognition of the international supply of pharmaceutical products. THC Global is highly attractive as an extraction partner for its ability to offer large scale cost effective medicines production at TGA licenced EU-GMP standard.
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