logo-loader
viewTHC Global Group Ltd

THC Global to exclusively import CBD products into New Zealand

THC Global has expanded into New Zealand's medicinal cannabis market.

map of new zealand
Endoca’s unique CBD and CBD+CBDa products will be imported into New Zealand

THC Global Group Ltd (ASX:THC) has secured exclusive rights to import Endoca’s cannabidiol (CBD) products from Europe into New Zealand.

Furthermore, it has established a supply chain to patients through a strategic partnership with DATAPHARM.

THC Global has been advised by Endoca that they have received strong interest from over a thousand patients in New Zealand seeking their product.

READ: THC Global Group completes name change from The Hydroponics Company Ltd

THC Global’s CEO Ken Charteris said: “We look forward to our first orders in New Zealand in the coming weeks as we continue to expand our global footprint in the medicinal cannabis market, both in the Asia Pacific and in North America.

“The expansion into New Zealand represents the next step in the development of THC Global as a significant participant in the global medicinal cannabis market.”

Other cannabis-based medicine costs $14,000 per year

The only other MedSafe approved cannabis-based medication in New Zealand currently costs patients $14,000 per year.

THC Global anticipates supplying Endoca CBD products to New Zealand patients at a substantially lower price, addressing a major barrier to patient uptake, and increasing accessibility for patients.

Favourable regulatory conditions to support revenue growth

THC Global has identified New Zealand as an attractive market due to favourable regulatory conditions.

New Zealand regulations allow products with over 98% CBD such as the Endoca range to be prescribed by medical practitioners including GPs without the need for special authorisation as is required in Australia.

The company expects that this will result in rapid revenue generating sales as the company commences supply to patients in New Zealand.

The company’s operating subsidiary in New Zealand, THC Pharma (NZ) Limited will commence importing once permits are received, which are being sort on an expedited basis.

Quick facts: THC Global Group Ltd

Price: 0.385 AUD

ASX:THC
Market: ASX
Market Cap: $52.81 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of THC Global Group Ltd named herein, including the promotion by the Company of THC Global Group Ltd in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

THC Global starts manufacturing at Southport facility after green light from...

THC Global Group Ltd’s (ASX:THC) group chief executive officer Ken Charteris updates Proactive after the company received a key medicinal cannabis manufacture permit for its Southport facility from the Australia regulator, allowing production to start immediately. Charteris says this is...

3 weeks, 6 days ago

2 min read