THC Global Group Ltd (ASX:THC) is making progress towards launching Australian medicinal cannabis products for Australian patients in early 2020 and become the first company to do this at commercial scale.
The company will be targeting to have medicinal cannabis available to the 100,000+ patients expected in the near term within Australia as well as being a global exporter.
Farm to pharma vertical integration
THC’s competitive advantage is its ability to produce high quality pharmaceutical GMP medicinal cannabis at a low cost – owing to its proprietary cannabis strain IP and its world-class manufacturing facility.
THC’s Australian cannabis facilities
This competitive advantage will enable THC to supply medicinal cannabis to Australian patients at a significantly lower cost than the current cost of imported medicines, as well as being competitive in the global cannabis market as THC commences exports.
THC is aiming to produce its first Australian medicinal cannabis product – a full spectrum oil – in December 2019, with sales commencing in early 2020 to Australian patients, followed by exportation of product commencing in Q2-Q3 2020.
THC chief executive officer Ken Charteris said: “THC Global will be producing medicinal cannabis at the highest quality standards, offering bulk API for the global wholesale market as well as finished formulated medicines for patients as soon as early 2020.”
THC’s initial medicines range
Charteris added: “This is a first for Australia – commercial scale production of Australian medicinal cannabis for sale to Australian patients”.
Proposed initial target markets
In August, the Federal Minister for Health, The Hon. Greg Hunt MP visited THC’s manufacturing facility in Southport, Queensland accompanied by the local Federal and State Parliament members.
The Federal Minister for Health said in a media release following his visit: “The THC Global facility will have the capacity to produce the equivalent of 120 tonnes of medicinal cannabis in oil or capsule form, to meet growing demand in Australia, and secure export opportunities.”