viewAusCann Group Holdings Ltd

Auscann Group Holdings to access large Australian pharmaceutical network

The agreement with a leading wholesale pharmaceutical distributor is a coup.

Cannabis plant
The agreement provides access to an extensive nationwide pharmacy network

AusCann Group Holdings Ltd (ASX:AC8) has signed a heads of agreement with Australian Pharmaceutical Industries Limited (ASX:API).

The agreement has the potential to boost sales of its cannabinoid medicines.

The two entities have a wholesale agreement for the distribution of AusCann’s cannabinoid medicines throughout Australia.

In terms of the agreement, AusCann will distribute imported cannabinoid medicines from its Canadian partner, Canopy Growth Corporation, ahead of establishing its own local supply of medications.

READ: AusCann Group to collaborate in enhancing medicinal cannabis production

Provides AusCann with access to large pharmaceutical network

The collaboration between AusCann and API provides the former with access to Australia’s leading wholesale distributor of pharmaceutical products.

Elaine Darby, managing director, AusCann said: “Establishing a relationship with a leading wholesale distributor in the industry provides AusCann with an excellent partner for the distribution of our medications.

“It is further evidence of the growing market and validity of what we’re doing in Australia."

AusCann is also working closely with its strategic partner Tasmanian Alkaloids in establishing its cultivation and manufacturing operations in Tasmania.

The first crop is expected to be planted this year which will boost the supply side of AusCann’s business.

Conducting educational programs to support demand

The company is also looking to drive demand by conducting educational programs and support for Australian doctors.

The program also ensures practitioners have access to the necessary information to confidently prescribe to patients and this is receiving strong support from doctors, including leading pain specialists. 

Quick facts: AusCann Group Holdings Ltd

Price: 0.255 AUD

Market: ASX
Market Cap: $80.85 m

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