Cann Group has reported a 65% lift in revenue in the three months to December 31 and revealed it has turned to Medlab Clinical to further raise awareness and sales of its Satipharm products.
Under a new deal between the listed companies, Medlab will market the CBD capsules to doctors alongside its own CBD sprays.
The range of products will represent a “leading offering of advanced delivery CBD products on the market”, Cann Group said in a quarterly update, adding that Medlab “has an existing team of medical science liaison officers” to carry out the task.
In a separate announcement to the ASX, Medlab said it will charge a fee for service to “educate and support physicians for selected Cann cannabis products”.
Along with striving to increase Special Access Scheme prescriptions of Satipharm, Cann Group said it is progressing with plans to register Satipharm as an over-the-counter S3 product.
Ethics approval for a clinical trial – a requirement under the registration process in order to demonstrate efficacy for a specific indication – is expected early this year, after which trial sites will be confirmed and a participant recruitment process launched.
The update came as Cann Group reported revenue in the second quarter of just over A$2m, up from $1.25m in the previous quarter.
Sales were driven by strong demand in the domestic B2B business with a near-doubling of units shipped to 13,000, the company said.
Meanwhile, Cann Group described international demand as “firm” with follow-up orders shipped to Astral in the UK.
