The agreement will give AusCann access to CH2's Australia-wide network of pharmacies, hospitals and aged care facilities.
The Australian medicinal cannabis pharmaceutical company, AusCann Group Holdings Limited (ASX: AC8) announced today that it has entered into an exclusive distribution agreement with Clifford Hallam Healthcare (CH2), which will see the company's product range sold throughout Australia.
Under the terms of the agreement, AusCann's pharmaceutical products will be distributed via CH2 to the company's network of hospitals, primary care services, pharmacies, and aged care facilities.
The partnership with CH2 represents a cost-effective way for AusCann to extend its existing Australian distribution network, as it will further consolidate the company's warehousing and logistics supply chain.
The new deal with CH2 will also supersede AusCann's previous 2018 agreement with Australian Pharmaceutical Industries Limited (API), which was mutually scuttled to allow both companies to pursue additional commercial partners.
The agreement is set to run for a period of 12 months—with an option to extend further—and will be conducted in compliance with the government's regulations regarding the distribution of unregistered medicine.
According to the company, the agreement "marks another step on AusCann's path towards making the hard-shell capsules available for clinical evaluation and prescription to patients in Australia through the TGA (Therapeutic Goods Administration) special access scheme and authorised prescriber scheme during the first half of 2020."
"AusCann enables physicians to treat their patients with a reliable, stable and standardised cannabinoid-based pharmaceutical product, monitor treatment results and adjust treatment algorithms using a portfolio of products and formulations."
The announcement also follows the company's recent launch of its new low dose capsule line. The CEO of AusCann, Ido Kanyon, stated that the product's high quality and commercial scale are two aspects that will help to differentiate it from the competition.
"We are providing a medical solution that offers regulated dosages and is in conformance with pharmaceutical quality conformance and regulatory requirements," Kanyon said.
"Reliable, stable and standardised medicines are critical in order to generate quality clinical evidence for cannabinoid-based medicines. This evidence is a prerequisite to market expansion and medical acceptance by healthcare professionals."
"We remain committed to making our dose-controlled capsules commercially available for prescription to patients in Australia in the first half of 2020 through the TGA special access scheme and authorised prescriber scheme."
To learn more about Auscann visit their Company HQ here.
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