Total
0
Shares
Bod Australia (ASX:BDA)- CEO, Jo Patterson - The Market Herald
CEO, Jo Patterson
Source: Cannabiz
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Bod Australia (BDA) has enjoyed medicinal cannabis sales growth during the second half of 2020
  • Over the last six months, the company filled 3941 MediCabilis prescriptions — a 91 per cent increase on 2020's first half
  • MediCabilis is prescribed for a range of conditions and is mainly used to treat chronic pain and anxiety
  • The company says the sales growth is due to the continued product uptake and strong brand recognition in Australia
  • Bod is up 11.6 per cent on the market this morning and trading at 48 cents per share

Bod Australia (BDA) has enjoyed medicinal cannabis sales growth during the second half of 2020.

Over the last six months, the company filled 3941 MediCabilis prescriptions. This was a 91 per cent increase on 2020's first half and a 114 per cent increase on the previous corresponding period.

MediCabilis is prescribed for a range of conditions and is mainly used to treat chronic pain and anxiety.

Since July 2019, Bod has filled over 8000 MediCabilis prescriptions.

The company says the sales growth is due to continued product uptake and strong brand recognition in Australia. Additionally, Bod has also progressed a number of education initiatives with Australian prescribers, which also increased the sales.

Notably, repeat prescriptions during the second half of 2020 accounted for 62 per cent of the sales volume.

"It is very pleasing to see strong growth and continued support from patients
and physicians for our MediCabilis product," CEO Jo Patterson said.

"We expect strong demand for MediCabilis to continue across Australia and this growth will continue to add to our revenue profile. Board and management look forward to updating shareholders on sales progress in the coming months," she added.

Bod is up 11.6 per cent on the market and trading at 48 cents per share at 11:15 am AEDT.

BDA by the numbers
More From The Market Herald
Austral Gold (ASX:AGD) sets terms for proposed buyout

" Babylon Pump and Power (ASX:BPP) completes Ausblast purchase

Babylon Pump and Power (BPP) has completed the purchase of Pilbara Trucks, which trades under the name Ausblast.
Apollo Consolidated (ASX:AOP) reports new assay results at Lake Rebecca

" Strategic Energy Resources (ASX:SER) highlights potential at East Tennant

Strategic Energy Resources (SER) has received results that have highlighted the mineral potential of its East Tennant Project in the Northern Territory.
Kula Gold (ASX:KGD) finds copper mineralisation at Brunswick

" Kula Gold (ASX:KGD) set to raise $930k for WA exploration

Kula Gold (KGD) has received firm commitments to undertake a $930,000 placement.
Highfield Resources (ASX:HFR) - CEO, Ignacio Salazar - The Market Herald

" Highfield Resources’ (ASX:HFR) Muga Mine endorsed by Govt. study

The Government of Navarra has released an independent study endorsing the impact of Highfield Resources’ (HFR) Muga Mine.