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Little Green Pharma (ASX:LGP) - Managing Director, Fleta Solomon - The Market Herald
Managing Director, Fleta Solomon
Source: Little Green Pharma
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  • Little Green Pharma (LGP) has exported over 1000 units of medicinal cannabis oil to the U.K. as part of consignment sales agreement with LYPHE Group
  • LYPHE has a significant presence in the United Kingdom and writes over half of all new medicinal cannabis prescriptions
  • As part of the agreement, LYPHE will prescribe and dispense the company's medicinal cannabis products to patients while reporting the efficacy, safety and patient outcomes
  • This deal is significant as it further cements Little Green Pharma's presence in the U.K. and European markets
  • Furthermore, it expects to ship its first export order to Germany by the December quarter
  • Company shares are up a slight 2.82 per cent and are trading for 36.5 cents each

Little Green Pharma (LGP) has exported over 1000 units of medicinal cannabis oil to the U.K. as part of consignment sales agreement with LYPHE Group.

LYPHE is the parent company of Astral Health, to whom the company delivered a pathfinder shipment in mid-April.

Importantly, LYPHE has a significant presence in the United Kingdom and writes over half of all new medicinal cannabis prescriptions in the nation.

Under the sales agreement, LYPHE will prescribe and dispense Little Green Pharma's medicinal cannabis products to patients at its clinics. Simultaneously, LYPHE will be responsible for reporting data investigating efficacy, safety, quality of life, and patient-reported outcomes to Little Green Pharma.

Despite sales and revenue having a small chance of being financially material, this shipment represents a key step towards the company's goal of meeting the growing demand by patients wanting access to medicinal cannabis in the U.K. and across Europe.

Little Green Pharma expects it will receive its expanded Cultivation and Production Permit shortly. This permit will provide further cultivation capacity to help it meet the demand in the U.K. and Europe.

Furthermore, LGP anticipates making its first export of medicinal cannabis products to Germany by the December quarter.

Company shares are up a slight 2.82 per cent and are trading for 36.5 cents each at market close.

LGP by the numbers
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