Little Green Pharma (LGP) has won a tender to continue supplying CBD oil to French patients as part of the country’s extended trial of medicinal cannabis.
The company will supply a maximum of 11,000 units of its 1:10 THC:CBD oil for the trial, which is now in its third year. In a change to previous terms, LGP will receive €14 (A$23) per unit having previously supplied the medicine free of charge.
LGP has also submitted a bid to continue supplying its CBD 50 oil. Under this tender, firms can table commercial terms up to €1 million for 22,500 units.
LGP said its continuing participation in the trial will further strengthen its brand and product awareness in France and provide it with first-mover advantage if France legalises medicinal cannabis.
It first provided medicine for the trial in March 2021.
Market research consultancy Euromonitor has estimated that France has a total addressable market of $5.6 billion.
Incannex Healthcare
Incannex Healthcare is to open a clinic in Melbourne dedicated to psychedelic medicine in what is understood to be the first of its kind in Australia.
Subsidiary business, Clarion Clinics Group, has entered a lease agreement for a premises in Abbottsford that is expected to open in September with capacity to treat 600 patients each year.
Incannex, which said it has struck a “collaborative agreement” with Australia’s leading clinical psychedelic professionals, plans to open clinics in other state capitals as well as expanding overseas.
A supply of MDMA and psilocybin has already been ordered from PharmAla, which last week struck a distribution deal in Australia with Vitura Health.
Incannex director of psychedelic business, Peter Widdows, described the clinic as a “pioneering venture”.
“It will implement best practice in psychedelic treatment and aims to positively impact the lives of many people suffering with intractable mental health conditions,” he said.
“It alone is a substantial business opportunity and has the potential to expand into a very sizeable venture with the subsequent planned roll-out of numerous clinics.”
