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- THC Global has been granted Schedule 8 and Schedule 4 licences to make and distribute medicinal hemp
- The company will do so from its Southport and ‘Bundy’ facilities in Queensland
- Receiving these licences is important for the company to address Australia’s growing demand for medicinal hemp
- Product validation should be done by the end of the year, with supply expected in early 2020
- THC Global’s shares are up 3.95 per cent, with shares trading at 39.5 cents
THC Global has been granted the Schedule 8 and Schedule 4 Licences to enable the manufacture and distribution of medicinal hemp at its Southport and ‘Bundy’ facilities.
The pharmaceutical company now holds all the required licences to supply narcotic medicines, including medicinal hemp, to Australian patients.
THC Global’s Southport Manufacturing Facility is a global pharmaceutical bio-extraction facility located in Queensland.
THC’s ‘Bundy’ Facility has a full Farm-to-Pharma research, cultivation and manufacturing capability on site.
This, in combination with the global export-scale Southport Manufacturing Facility, positions the company to address the growing demand for medicinal hemp in Australia.
The next significant milestone for the company to implement a high-quality and cost-competitive business is on first product bottling.
Product validation is required to receive pharmaceutical Good Manufacturing Practice (GMP) certification from the Australian Therapeutic Goods Administration.
THC expects to complete product validation by the end of December 2019.
Being granted S8 and S4 Licences also authorises the company to utilise its on-site analytical lab equipment to make its products.
Accessing on-site lab equipment and having the expertise to operate the lab, reduces the cost of THC’s product research and development activities.
This represents yet another significant advantage as it scales up commercial production.
The company expects to begin supplying medicinal hemp to Australian patients in early 2020 at a highly competitive price compared to other products currently available.
THC Global’s shares are up 3.95 per cent, with shares trading at 39.5 cents as at 2:13 pm AEDT.
