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- THC Global (THC) has completed the first farm-to-pharma processing of medicinal cannabis at its Southport Manufacturing Facility
- This is a major milestone for the company as it is now well-positioned to market its products domestically and internationally
- Initially, products supplied to Australian patients will come under the ‘Canndeo’ brand
- In addition, THC confirmed it has been granted import and export licences from the Australian Office of Drug Control
- THC Global is up 8.11 per cent and shares are trading for 40 cents each
THC Global (THC) has completed the first farm-to-pharma processing of medicinal cannabis at the Southport Manufacturing Facility.
This facility is the largest pharmaceutical bio-floral extraction facility in the Southern Hemisphere that is licensed and to process medicinal cannabis.
Initial production marks a significant milestone for, not only THC, but also the Australian medicinal cannabis industry.
It seems the company has been moving relatively quickly as it was only granted the last two licences required to produce and distribute product in late October.
Image sourced from THC Global
“THC Global’s medicinal cannabis team have achieved a major milestone today both for the Company and for the Australian medicinal cannabis industry by producing our first farm-to-pharma medicinal cannabis at our Southport Facility, in advance of our commercial-scale launch next year,” CEO Ken Charteris said.
The company’s ‘Canndeo’ brand will be used to globally market its Australian cannabis medicines. An initial launch of the Schedule 4 CBD oral liquid medicine, followed by additional CBD-THC products later next year.
The large scale production capacity THC Global has will enable the supply of medicinal cannabis products to Australian patients.
“THC Global has ready-to-go production assets within Australia capable of servicing over 250,000 patients in addition to the global export market, making THC Global a leader in the Australian medicinal cannabis industry, and in prime position to be a global exporter of Australian medicinal cannabis medicines,” Ken added.
THC is now well-positioned to significantly benefit from the future of medicinal cannabis domestically and internationally.
The pharmaceutical company has also confirmed being granted import and export licences from the Australian Office of Drug Control. These licences allow THC to import cannabis at Southport and for the export from the relevant facility.
THC Global is up 8.11 per cent and shares are trading for 40 cents each at 11:38 am AEDT.
