Cannabis products no dope as sales tick over

Australia’s two dozen would be cannabis product manufacturers continue to score goals in the young market, with two producers announcing major milestones on the same day.

Medicinal cannabis producer THC Global (ASX: THC) has received Therapeutic Goods Administration approval for its Southport manufacturing facility which has harvested its first cannabis crop and begun manufacturing operations.

And Creso Pharma (ASX: CPH) announced it has sold more than three million anibidiol portion sachets in Europe in collaboration with its partner, Virbac S.A.

Anibidiol is a range of granules used as complementary feed to help mitigate stress and improve wellbeing in dogs.

The Sydney company said dog owners had reported the product contributed to the management of pain and improved the vitality of pets after one week of use in addition to normal feed.

Creso operates an indoor growing facility in Nova Scotia and Virbac manufactures anibidiol in Switzerland for distribution in Europe.

Meanwhile THC Global grows cannabis at Eden Farms, Bundy in Queensland destined to be processed into its Cannedo brand products at Southport.

The company’s bio-floral extraction plant has now won GMP licence approval from the TGA.

The approval is recognised in 29 major markets globally and covers extraction, formulation, packaging and testing, as well as supply for human trials.

THC CEO Ken Charteris said: “With the receipt of the GMP licence THC Global will now seek to complete negotiations for the export supply of cannabis medicines.

“We anticipate near-term completions of commercial negotiations with multiple parties interested in our scalability, quality of production and ability to compete on price globally.”

Picture: Creso Pharma

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