Cann Global has landed a shipment of two hard-pill cannabis formulations from Canadian partner Canntab Therapeutics in Australia. The CBD 12.5mg and 25mg pharmaceutical grade products will be followed by another four in the coming months.
The pills will be available on prescription via the SAS-B route once the shipment has cleared customs.
In March, Canntab was granted its first patent in Australia for its proprietary cannabidiol hard-pill formulations and received a $400k purchase order from Cann Global.
Construction on a A$311 million medicinal cannabis facility near Toowoomba, Queensland is due to start next month. The move comes after Australian Natural Therapeutics Group announced a merger with Canadian Asterion Cannabis and its wholly-owned subsidiary Asterion (Australia) in April.
The two companies joined forces to develop what they described as one of the largest renewable-powered medicinal cannabis growing, manufacturing and R&D facilities in the world. The 40-hectare site is set to create up to 2,000 regional jobs and generate A$85m in revenue in its first year.
ECS Botanics has made four senior hires to support the company’s growth.
Nikita Soukhov, a leading agronomist with international expertise, joins as farm manager (Victoria). Experienced pharmaceuticals executive Angela Macquarie takes the role of general manager operations. Michael Clark, a senior executive with extensive European, business development and healthcare market experience, joins as head of European operations. And Blaise Bratter brings leading experience in cannabis industry operations to the role of business development manager, Oceania.
ECS director Nan-Maree Schoerie said: “We are excited to have attracted such a depth of talent into the ECS medicinal cannabis team. Building bench strength is critical for the success of the organisation. Our ability to attract such talented and experienced individuals is indicative of the growing confidence in [our] strategy.”
AusCann has entered into an agreement to supply pre-packaged pharmaceutical cannabis products to the Tasmanian Department of Health.
The awarded products include the company’s proprietary Neuvis THC/CBD 1:1 oral capsules in 2.5mg and 10mg concentrations.
AusCann CEO Layton Mills said: “We’re delighted that AusCann has been accepted as a supplier of pharmaceutical cannabis products to health centres and hospitals in Tasmania. This development, along with recent confirmation that selected Australian health funds allow our Neuvis hard-shell capsules in their reimbursement programs, further supports the company’s commitment to providing reliable, stable and standardised cannabinoid-derived therapeutic products to patients in Australia.”
Creso Pharma has announced record sales growth for Q2 CY21, driven by Canadian subsidiary Mernova Medicinal and the company’s Swiss operations.
Revenue hit A$1,715,933 during the period, a 24% increase on the previous quarter and a 451% increase on the previous corresponding period (Q2 CY20).
The company said the growth was underpinned by strong demand for Mernova’s craft cannabis products and Creso Pharma’s animal and human health CBD range.
Meanwhile, Creso is close to completing the acquisition of psychedelics company Halucenex Life Sciences after the deal received shareholders’ approval at the company’s 2021 Annual General Meeting. The transaction is expected to complete next week.
Creso has also secured its first purchase order from Red Light Holland’s wholly-owned distribution company SR Wholesale for its Swiss-manufactured hemp CBD products.
The order is the first of its kind and comes after the two companies announced a proposed merger in June to create global psychedelics and cannabinoid company The HighBrid Lab.
The parties are also exploring the potential of combining functional mushrooms and other compounds with Creso Pharma’s existing product suite, should the proposed merger be approved by shareholders.