ASX-LISTED medicinal cannabis producer AusCann has announced it is partnering with Tasmania Alkaloids, the world's largest poppy processor and producer and exporter of Thebaine (the ingredient in oxycodone, hydrocodone and buprenorphine - common to pain medications), to produce its medical cannabis stock.
Tasmanian Alkaloids produces 40% of the world's opiate crop, has extensive good manufacturing process (GMP) manufacturing facilities and relationships with the world's largest pharmaceutical companies.
The partnership also intends to jointly investigate and develop new international opportunities for cannabis products.
Under the partnership, the cultivation and manufacture will be undertaken at Tasmanian Alkaloid's GMP facility in Tasmania.
It is less than two weeks since AusCann was granted a cultivating license in Western Australia by the Office of Drug Control, so this move significantly accelerates its plans, the firm said.
Through the strategic partnership, AusCann will have access to Tamanian Alkaloids' extensive experience and expertise.
Together the two companies have said in their ASX announcement that they will secure a licence to cultivate and manufacture medicinal cannabis in Tasmania.
AusCann has also said it will continue to source product from its partner Canopy Growth Corporation, North America's largest producer of medicinal cannabis, to cover the period until the new arrangement can supply Australian medicines.
AusCann md Elaine Darby (pictured) said, "This partnership with Tasmanian Alkaloids significantly builds on our position within the Australian market as a leading medicinal cannabis company that intends to cultivate, manufacture and supply the Australian market with access to high quality medicinal cannabis products".
The above article was sent to subscribers in Pharmacy Daily's issue from 18 May 17
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