- Cann Group will supply medicinal cannabis products to approved patients
- The company has reached a national distribution agreement with Symbion which delivers to 4000 pharmacies and 1400 hospitals.
- It also moves into the commercialisation phase for imported medicinal cannabis products.
- The first locally manufactured products will launch in the first quarter of 2020.
- CEO, Peter Crock, says the company is also working on developing patient specific formulas.
- Cann shares remained unchanged, trading for $1.05 per share at market’s close on November 7.
Cann Group has reached a distribution agreement with healthcare product wholesaler Symbion for its medicinal cannabis range.
Announced yesterday, the new deal means Cann’s full range of products can be accessed by patients approved under the Special Access Scheme (SAS) through Symbion’s national network of 4000 pharmacies and 1400 hospitals.
Cann has imported its first shipment of THC oil from Aurora Cannabis in Canada, with permits in place for another five products to be imported from the biopharma business.
“We are now operating our existing Southern and Northern production facilities at full capacity, with in excess of 40 harvests now completed, and we are advancing our product manufacturing capabilities with IDT Australia,” said Cann CEO Peter Crock.
Working with pharmaceutical manufacturer IDT Australia, Cann is also expecting to launch locally sourced and manufactured formulations in the first quarter of 2020.
“We are well underway with our major expansion program near Mildura, which is expected to be commissioned towards the end of next calendar year, and should consolidate Cann’s position as the leading local producer, with ample capacity to meet local patient needs,” he said.
In addition, the company is collaborating with compounding pharmacies in order to tailer compounded products to individual patient needs.
Mr Crock said entering the commercialisation phase is a major milestone for the company.
“Cann’s development and production expertise – together with the specialist manufacturing capabilities provided by our partner, IDT Australia – ensures Australian patients will have access to high quality and safe medicinal cannabis products,” he concluded.
Shares in Cann remained unchanged following the announcement, trading for $1.05 each at market close.