PharmaCann to distribute Elixinol hemp-derived CBD products in Australia under the Therapeutic Goods Administration's Special Access Scheme.
Elixinol Global Limited (ASX:EXL) is pleased to announce that the first order has been made under an exclusive distribution agreement with PharmaCann Pty Ltd. PharmaCann will sell Elixinol cannabidiol products in the Australian market through the Therapeutic Goods Administration's Special Access Scheme. This is a significant milestone for the Company's growth strategy in Australia following PharmaCann having obtained the necessary regulatory and governmental approvals to import and wholesale all forms of medicinal cannabis.
The Elixinol Global and PharmaCann agreement enables PharmaCann to import and supply Elixinol branded CBD products into Australia. The TGA has recently consulted on the proposed de-scheduling of CBD products. Should the TGA deschedule CBD early in 2021 as proposed, it would allow CBD products to be prescribed over the counter by pharmacists. This will make CBD products become widely available for consumers in Australian pharmacies.
The relationship with PharmaCann gives us the ability to sell Elixinol branded products in our home market in a way which fits within current regulations.Oliver Horn, Group CEO
PharmaCann is a licensed medicinal cannabis and CBD products wholesaler in Australia and New Zealand, servicing a network of over 1,600 medical practitioners and over 2,000 pharmacies. PharmaCann's business model is based on distributing medicinal cannabis / CBD products under the TGAs SAS through a direct marketing and education model targeted at doctors and pharmacists. PharmaCann currently has access to a growing network of over 130 prescribing doctors and holds licenses to import, export and wholesale medicinal cannabis.
PharmaCann dispenses its medicinal cannabis products through all major pharmacy chains including Chemist Warehouse, TerryWhite Chemmart, Priceline Pharmacy, Chempro, Ramsay Health, Direct Chemist Outlets, Discount Drug Stores, Good Price Pharmacy and multiple independent pharmacies across Australia.
Group CEO, Oliver Horn, commented, "We regularly receive queries about whether our products are accessible in Australia, so we're very pleased to now be able to offer a solution."
Victor Caprio, Managing Director of PharmaCann Global says, "PharmaCann is proud to be working with Elixinol Global to continue our program aiming to deliver the most affordable, high-quality cannabinoid medicines across Australia and New Zealand, and to continue working with our Medical Network to ensure sustainable accessibility to medicinal cannabis overall. At PharmaCann, our ethos is to ensure that all members of our communities have streamlined access to the most affordable cannabinoid medicines in the market. By working with Elixinol Global to distribute their products in the region, the continuation of our program on delivering affordable, high-quality medicines can be met."
To learn more about Elixinol Global, visit the company HQ here.
Disclaimer: Past performance is not an indicator of future performance.
& Keep Up to Date
Get the latest pot stock recommendations, cannabis news
and industry updates straight to your inbox!