- The Therapeutic Goods Administration (TGA) has granted a licence to Little Green Pharma's (LGP) manufacturing facility
- The licence means Little Green Pharma is the only fully-TGA and Office of Drug Control (ODC) licenced and permitted medicinal cannabis company on the ASX
- The manufacturing facility is located adjacent to its cultivation plant in WA's South West region and was only recently commissioned for use
- Little Green Pharma will use the facilities to produce its own medicinal cannabis oil and flower products, to be sold to the E.U.
- Shares in LGP have ended the day trading up 13.8 per cent at 33 cents each
Australia's leading drug body, the Therapeutic Goods Administration (TGA), has granted a licence to Little Green Pharma's (LGP) new manufacturing facility.
Significantly, the granting of this licence positions Little Green as the only TGA and Office of Drug Control (ODC) licensed and permitted medicinal cannabis company listed on the ASX.
It also means LGP is the only ASX-listed medicinal cannabis company with
inhouse capability to manufacture medicinal cannabis flower and oil products from its own cultivated plant.
Little Green Pharma Managing Director Fleta Solomon said the granting of the Good Manufacturing Process (GMP) licence is truly a watershed moment for the company.
"The grant of this GMP licence differentiates the company as the only fully
TGA and ODC licensed and permitted medicinal cannabis company listed on the ASX with local Australian cultivation, manufacturing and wholesaling capacity, as well as brands in market," he explained.
"This end-to-end capability allows us to more effectively manage costs, focus on higher-margin aspects of the supply chain, and supply LGP-branded GMP-grade medicinal cannabis products into the highly regulated markets of the European Union," he added.
LGP's recently opened manufacturing facility, which was granted the GMP licence, is located adjacent to Little Green's cultivation plant in WA's South West region.
The company will use both plants to create its oil and flower products, to be sold in Australia, but also primarily in the E.U. and Germany in particular.
Little Green has also expressed interest in further developing its capability to manufacture additional GMP-licenced cannabis products and pharmaceutical formulations.
Additionally, the company is considering potentially offering toll extraction and manufacturing services to other cannabis producers.
Shares in Little Green Pharma have ended the day up 13.8 per cent at 33 cents each.