Montu’s medicinal cannabis wholesale business, Leafio, is planning to open a fourth warehouse later in the year, with options being considered on the west coast and in Far North Queensland.
Leafio, which operates distribution centres in Sydney, Melbourne and Brisbane, said a final decision on the location will be based on “logistics and demand”.
The expansion comes as the company announced a 60% growth in sales to pharmacies over the past 12 months.
It said 3,500 pharmacies are using the platform to “fulfil alternative medicine prescriptions” with more than 1,000 orders received each day.
Rua Bioscience
Rua Bioscience generated revenue of NZ$900,000 (A$831,000) between October 1 and March 31, up from NZ$268,000 (A$247,000) in the previous six-month period.
The company described its performance in the third quarter – January to March – as “particularly encouraging” although no specific figures relating to the three-month period were disclosed.
“This exceptional result reflects robust demand across all core markets and validates Rua’s strategy of building a strong export-led business rooted in quality and world-class cultivation and manufacturing partners,” Rua said.
Germany delivered record sales in the latest quarter, with demand outstripping supply, while sales in Australia “remain steady”.
Rua said supply constraints in Australia limited short-term growth although new supply and products are set to “reignite momentum”.
Meanwhile, product launches fuelled month-on-month growth in New Zealand, further establishing Rua as a “key player in the country’s rapidly maturing medicinal cannabis sector”.
Chief executive Paul Naske said: “Achieving $900,000 in revenue in six months as a start-up company is an outstanding milestone. It demonstrates the success of our strategy, the quality of our products, and the hard work of our team.
“Most importantly, it brings us closer to fulfilling our purpose of changing lives both here at home and internationally.”
Driving study results
Queensland researchers have published results from a study investigating the effects of THC on driving ability – with mixed results.
Hemp Gazette reports the study, involving 78 medicinal cannabis patients using either an oil or vaporised flower, found neither group experienced a change in information processing speed, divided and sustained attention, or inhibitory control performance.
However, there were significant reductions in cognitive flexibility and executive functions.
The study has been published in Drug and Alcohol Review.
Lisa Varley wins CEO award
Former Entourage Effect chief executive Lisa Varley has been named Healthcare Distribution CEO of the Year 2025 by business insights platform APAC Insider.
Varley left the Entourage Effect in March after two years with the business to set up medicinal cannabis consultancy Eqwellibriyum.
