AusCann Group Holdings Ltd (ASX:AC8) announced that it has entered into a Heads of Agreement (HoA) with ASX listed Australian Pharmaceutical Industries Limited (ASX:API) to form a wholesale agreement for the distribution of AusCann’s cannabinoid medicines throughout Australia.
The collaboration between AusCann and API aligns the competencies of AusCann and its expertise in the medical cannabis industry and Australia’s leading wholesale distributor of pharmaceutical products. This agreement will help establish strong distribution channels for the supply of AusCann’s medications to Australian patients.
As part of the wholesale agreement, AusCann will distribute imported cannabinoid medicines from its Canadian partner, Canopy Growth Corporation, ahead of establishing its own local supply of medications. AusCann is working closely with its strategic partner Tasmanian Alkaloids in establishing its cultivation and manufacturing operations in Tasmania, with the first crop expected to be planted this year.
Furthermore, to drive awareness and knowledge of the therapeutic benefits and uses of medical cannabis, AusCann’s Medical Outreach Program is providing education and support to Australian doctors. The program also ensures practitioners have access to the necessary information to confidently prescribe to patients and is receiving strong support from doctors, including leading pain specialists.
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