- Medical Hemp company AusCann Group (ASX:AC8) has appointed Aspen Pharmacare Australia to provide packaging to its products
- This agreement is for an initial three year period that can be extended
- The appointment of Aspen aims to de-risk AusCann’s supply chain in the most cost-effective way and ensure quality compliance
- AusCann is currently up 4.55 per cent with shares trading for 23 cents apiece
Medical hemp company AusCann Group has appointed Aspen Pharmacare Australia to provide packaging for its products.
This appointment aims to de-risk AusCann’s supply chain in the most cost-effective manner, ensure quality compliance and follow from similar partnerships.
This agreement with Aspen is for an initial three year period that can be extended and will include GMP (Good Manufacturing Practice) packaging services for AusCann’s hard shell capsules.
These will be manufactured under contract by AusCann’s manufacturing partner, PCI Pharma, and will be packaged by Aspen in consumer ready packs at its Australian facility.
AusCann CEO Ido Kanyon said the appointment of Aspen is consistent with AusCann’s need for pharmaceutical grade GMP packaging.
“AusCann has established capabilities and partnerships with leading service providers across the full medicinal cannabis supply chain,” Ido said.
“This allows us to focus our capital on where we can deliver the best sustainable value for our shareholders – on market ready cannabinoid-based pharmaceutical product development, generating clinical evidence for these superior products and building medical acceptance from doctors,” he added.
Aspen Pharmacare Australia is a subsidiary of Aspen Pharmacy Holdings, the largest listed pharmaceutical company in South Africa.
It has an established business presence in over 56 countries and is a global supplier of branded and generic pharmaceutical products to more than 150 countries.
The company has 25 manufacturing facilities on 17 sites and is licensed by the United States Food and Drug Administration, the Australian Therapeutic Goods Administration, and the European Directorate for the Quality of Medicines.
AusCann is currently up 4.55 per cent with shares trading for 23 cents apiece at 1:09 pm AEDT.