Bod Australia (ASX:BDA) - CEO, Jo Patterson
CEO, Jo Patterson
Source: InvestorStream
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Bod Australia (BDA) achieves a 212 per cent increase in medicinal cannabis sales over the 2021 financial year
  • Compared to just 3907 units sold in FY20, the healthcare stock dispensed 12,187 products over the last financial year
  • Further, Bod enjoyed a 17 per cent quarter-on-quarter growth and retained a 46 per cent share of the total Australian market for full plant high CBD products
  • Bod also noted that 65 per cent of prescriptions sold during FY21 were repeat orders — highlighting the medicine quality and ongoing customer satisfaction
  • Company shares are up 5.97 per cent and are trading at 35.5 cents

Bod Australia (BDA) has announced a 212 per cent increase in sales of its medicinal cannabis products over the 2021 financial year.

This achievement comes off the back of the healthcare stock dispensing 12,187 products in FY21 compared to 3907 products in FY20.

Further, Bod enjoyed a 17 per cent quarter-on-quarter growth following the sale of 4441 units in the June quarter compared to 3805 in the March quarter.

Continuing the growth trend, Bod’s retained a 46 per cent market share of the total Australian market for full plant high CBD products during the most recent financial year.

The company also noted that 65 per cent of prescriptions sold during FY21 were repeat orders — highlighting the quality of Bod’s medicines and ongoing customer satisfaction.

Since first prescriptions in 2019, Bod has sold 16,267 medicinal cannabis product units and expects the growth to continue.

The cannabis-centric health company attributed the growth in prescriptions to ongoing educational initiatives with healthcare professionals, as well as its nation-wide clinical study that investigated the efficacy of its medicinal cannabis products when prescribed for conditions such as anxiety, insomnia and post-traumatic stress disorder.

CEO Jo Patterson was proud of Bod’s achievements and believed it would contribute to the company’s growing revenue profile.

“Bod continues to achieve a very strong upward trajectory through its medicinal cannabis operations on both a quarter on quarter and a year on year basis. We anticipate increased demand for our medicinal cannabis product suite over the coming quarter and beyond.”

Looking ahead, Bod will scale-up operations across Australia and the UK to support further and ongoing growth.

Company shares were up 5.97 per cent and were trading at 35.5 cents at market close.

BDA by the numbers
More From The Market Herald
Atomo Diagnostics (ASX:AT1) - Managing Director, John Kelly

" Atomo Diagnostics (ASX:AT1) receives COVID-19 rapid antigen test approval in NZ

Atomo Diagnostics (ASX:AT1) receives COVID-19 rapid antigen test approval in New Zealand

" Telix Pharmaceutical (ASX:TLX) first patient dosed in prostate cancer therapy program

Telix Pharmaceuticals Limited (ASX:TLX) has first patient dosed in its prostate-specific membrane antigen.

" Resonance Health (ASX:RHT) contracted for third party liver disease study

Resonance Health (ASX:RHT) has been contracted to provide liver-fat quantification services for a clinical study to…

" Cann Group (ASX:CAN) granted GMP licence by TGA

Cann Group (ASX:CAN) receives a GMP licence from the Therapeutic Goods Administration (TGA) to manufacture therapeutic…