Federal health minister Greg Hunt was among attendees at the official opening of THC Global’s Southport, Queensland factory, which is expected to begin significant production next year and make the company Australia’s first commercial supplier of medicinal cannabis.
As reported by @AuManufacturing in June, product validation at the site is scheduled for the fourth quarter of the year, and THC Global (ASX:THC) expects to be experiencing “significant revenue generating medicinal cannabis production” in 2020. Capacity is for 12,000 kilograms of Good Manufacturing Practices (GMP) compliant Active Pharmaceutical Ingredient (API) cannabis in oil or capsule form.
The new factory is expected to supply both Australian and export markets.
A statement from THC Global said 100,000 prescriptions annually were expected, based on government figures, and the volume far outstripped that. This enabled the company, “to both support Australian patients with Australian product and still be a major participant in the global medicinal cannabis market.”
Hunt claimed the opening showcased the federal government’s “commitment to boosting local industry and helping those living with chronic or terminal illnesses”.
Doctors can supply cannabis products through the “Therapeutic Goods Administration’s Special Access Scheme Category B, or via an Authorised Prescriber (AP) Scheme.”
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