THC Pharma has received a licence to manufacture medical cannabis at its Southport facility.
The licence from the Australian Office of Drug Control represented, “the most significant manufacture licence granted in Australia to date, as THC Global has the largest bio-pharma extraction facility in the Southern Hemisphere,” said parent company THC Global’s (ASX:THC) CEO, Ken Charteris.
The company expects product validation at the site to be complete in the final quarter of the year, and to be supplying patients and experiencing “significant revenue generating medicinal cannabis production” early in 2020. Stockhead notes that the application was initially made in the fourth quarter of 2017.
“The licencing… cements the company’s position as being primed and ready to be a significant player in the global cannabis market, particularly within the Asia Pacific region,” added THC Global’s chairman Steven Xu.
According to THC Global, the site of Queensland’s Gold Coast is capable of initial production of 12,000 kilograms of Good Manufacturing Practices (GMP) compliant Active Pharmaceutical Ingredient (API).
THC Global’s subsidiary Canndeo received a manufacturing licence from the ODC last month. As well as two manufacturing licences, the group also has a Cannabis Research Licence and a Medicinal Cannabis Licence (Cultivation).
Subscribe to our free @AuManufacturing newsletter here.