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Queensland Bauxite subsidiary signs deal for medicinal cannabis pill

Canntab pharmaceutical grade extended release pill may be introduced to Australia.
Cannabis plants
There are several formulations of the product to treat a variety of illnesses

Queensland Bauxite Ltd (ASX:QBL) subsidiary Medical Cannabis Limited (MCL) has signed an agreement to introduce a pharmaceutical grade medical cannabis extended release pill to Australia.

MCL subsidiary VitaCann Pty Ltd has formed a joint venture with Canada’s Canntab Therapeutics Limited regarding Cannabis pill-XR.

Canntab has several formulations of this pill to treat a variety of illnesses.

Subject to approval process

This is made possible by Australian government legislation that enables a consistent pharmaceutical grade pill product to be approved as a general prescription medication subject to an established approval process.

It is unlike legislative framework for medical cannabis products being produced by nearly all other cannabis companies that may find it difficult to get approvals without a consistent pharmaceutical grade product.

Pnina Feldman, Queensland Bauxite chairperson, said: “It is exciting to be involved in a venture which aside from its lucrative business prospects, aims at helping so many people in need of safe pain relief and other cures.

“Everyone knows someone who could benefit from this new technology, and it is deeply satisfying to see positive results with friends or family in dire need of such medication.”

“MCL will strive to educate the political, medical and general community as to the benefits of this new form of medication.”

Canntab pill-XR addresses concerns

The Canntab pill-XR is aimed at addressing concerns raised by politicians, policy makers,

medical professionals and patients looking for a better cannabis medicine delivery option.

Doctors will be more comfortable prescribing a pharmaceutical grade pill rather than allowing patients to smoke cannabis.

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