THC Global Group Ltd (ASX:THC) has received the final licences required for Australian production and distribution of narcotic medicines, including medicinal cannabis independently for both the ‘Bundy’ Facility and the Southport Manufacturing Facility.
This milestone was reached on the grant of Schedule 8 (S8) and Schedule 4 (S4) manufacturing licences by the Queensland Department of Health for THC’s manufacturing facilities.
THC will be able to commence cannabis extraction and processing on the grant of Manufacture Permit by the Australian Government which is expected by the end of the year.
The company is aiming to complete product validation by December 2019 and to commence supply of Australian medicinal cannabis to Australian patients in early 2020 at a highly competitive price compared to current products available to patients.
S8 and S4 Licences
The S8 and S4 Licences enable the company to manufacture, and wholesale S8 and S4 substances, including medicinal cannabis.
THC has also received the requisite authorities enabling the holding of S8 and S4 substances by the company at its approved manufacturing facilities.
Receipt of these licences for both the THC manufacturing facilities is a key requirement for the company to commence Australian supply and distribution of its Australian produced medicinal cannabis both as S4 pharmacy medicines and S8 controlled medicines.
THC Global’s Southport Manufacturing Facility is a global export-scale pharmaceutical bio-extraction facility being finalised for the production and future export of medicinal cannabis.
The receipt of these licences and approvals follows independent security assessment of the manufacturing facility and is the final licensing step for THC as it progresses towards pre-production of medicinal cannabis.
THC Global has manufacturing licences issued under the Australian Narcotic Drugs Act 1967 for its Bundy’ Facility, which has a full Farm-to-Pharma research, cultivation, and manufacturing capability on site, and the Southport Manufacturing Facility, the company’s global export-scale facility.
With all requisite licences secured by THC for the holding, manufacture, and wholesaling of medicinal cannabis from the company’s manufacturing facilities, on the grant of the Manufacture Permit by the Australian Government, THC Global will be in position to complete product validation – expected to be completed by December 2019.
Product validation is required in order to receive pharmaceutical GMP certification from the Australian Therapeutic Goods Administration.