ASX Health Stocks: BOD to sell cannabis in Malaysia; AHI explores the burgeoning Middle East e-script market
Health & Biotech
Health & Biotech
Cannabis focused biotech Bod Science (ASX:BOD) has signed a milestone collaboration agreement with Malaysian powerhouse, Antah Group.
The Letter of Intent sets the framework between the two companies to identify, develop and commercialise medical cannabis products in Malaysia.
This marks the first opportunity to explore the use of cannabidiol (CBD) in the Malaysian healthcare industry.
Under the deal, Bod and Antah will identify indications that are expected to benefit from medical cannabis therapy upon the establishment of a regulated medical cannabis market in Malaysia. These may include autism spectrum disorder, anxiety disorders and major depression.
To date, there have been no clinical trials or opportunity to explore the use of medical cannabis in the Malaysian healthcare industry, however Antah is positive that such opportunity will be available in the near future.
When regulation is passed, Bod’s patented products is expected to provide the base for any randomised controlled trials.
On successful completion of the trials, Antah will have exclusive use of Bod’s investigational medical product for sales and distribution, which would provide the first mover advantage in the Malaysian market.
This announcement comes as neighbouring Thailand’s legal cannabis market size is expected to reach US$9.6 billion by 2030.
The adoption of medical cannabis in Thailand to treat various ailments like nausea and anxiety are some of the significant factors boosting the industry’s growth in the country.
Healthcare software company Advanced Health Intelligence (ASX:AHI) has also signed a LOI with UAE-based e-script medicine management company, Pharmak Pharmacy.
Under the deal, Pharmak will integrate the AHI Biometric Health Assessment (BHA) software into its own system.
Once integrated, Pharmak will deliver AHI’s e-script and screening solution to all current and future Pharmak partners, which include health insurers, government, and healthcare professionals in the Middle East.
Pharmak expects to achieve a minimum e-script order volume in 2024 of 100,000 e-scripts per month in the UAE, and a further 100,000 e-scripts per month in Saudi Arabia.
The average e-script value in the UAE is AED550 (around US$150). In Saudi, that value is SAR350.00 (USD$93.40).
The partnership comes at a time when the Middle East region is extremely vocal regarding its intention to invest heavily in the digitisation of healthcare and population screening
In Saudi alone, the Kingdom has allocated US$50.3 billion to healthcare and social development.