Aspen Pharmacare Australia will provide packaging services for AusCann in a three-year agreement announced today.
AusCann Group Holdings Limited (ASX: AC8) announced that it has appointed the TGA licensed company, Aspen Pharmacare Australia Pty Ltd, to provide packaging for its medicinal cannabis pharmaceutical products.
The three-year agreement follows similar partnerships—with cultivation & extraction, manufacturing, and controlled distribution service providers—and will also include GMP packaging services for the company's proprietary capsules.
These will be manufactured by AusCann's manufacturing partner, PCI Pharma, before being packaged by Aspen in consumer ready packs at its Australian facility.
AusCann has established capabilities and partnerships with leading service providers across the full medicinal cannabis supply chain. This allows us to focus our capital on where we can deliver the best sustainable value for our shareholders – on market ready cannabinoid-based pharmaceutical product development, generating clinical evidence for these superior products and building medical acceptance from Doctors.AusCann CEO, Ido Kanyon
This appointment is consistent with the company's carefully managed supply chain and cost base management strategy, which aims to de-risk the supply chain in the most cost-effective manner possible while ensuring quality compliance.
And they're in good hands with Aspen Pharmacare Australia, which is a subsidiary of Aspen Pharmacare Holdings Limited, the largest listed pharmaceutical company in South Africa.
Aspen is also a global supplier of branded and generic pharmaceutical products to more than 150 countries, making it well equipped to handle AusCann's packaging needs.
The CEO of AusCann, Ido Kanyon, described the agreement with Aspen as being in concert with the company's need for pharmaceutical grade GMP packaging services, while also satisfying the company's need to manage its supply chain in a cost-efficient manner.
"AusCann is on track in getting its first capsules to market. These are expected to be released for clinical trials towards the end of 2019.
"The manufacturing of the cannabinoid hard shell capsules will be primarily manufactured under contract by our manufacturing partner PCI Pharma, with packaging by Aspen Pharmacare."
"The contract manufacturing and packaging capabilities we have in place with Aspen Pharmacare and with PCI Pharma enable us to be highly cost-effective and agile," Kanyon said.
To learn more about AusCann Group visit their Company HQ here.
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Disclaimer: past performance is not an indicator of future performance
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