ASX Health Stocks: Weed stock Cann Group gets licence from TGA for its cannabis facility

Medicinal cannabis stock Cann Group (ASX:CAN) has scored a regulatory milestone, after being granted a GMP licence to manufacture CBD therapeutic goods in its Southern facility in Victoria.

The GMP (or Good Manufacturing Practice) license was issued by the TGA, and will enable Cann to manufacture Active Pharmaceutical Ingredient (API) and medicinal cannabis products under GMP conditions for supply in both Australia and overseas.

Importantly, dried cannabis flower products produced under this Southern GMP licence are expected to be available for supply to patients under the TGA’s Special Access Scheme (SAS) and Authorised Prescriber (AP) scheme within the next few weeks.

“Over the last 12 months, we’ve seen increasing demand for GMP products from both domestic and international customers, and we’ve had pre-orders in place since late last year pending the granting of this licence,” Cann CEO, Peter Crock said.

“We’re now able to service the needs of those customers.”

Cann also said the TGA has started inspecting its other facility in Mildura.

Cann Group share price today:

Other ASX Healthcare news today

Medical devices specialist Rhinomed (ASX:RNO) was the best performing healthcare stock today, up buy 15% after reporting its quarterly earnings.

Rhino’s revenues in Q2 FY22 jumped 17% from the Q1 to $2.03m. The strong results have been underpinned by sales of its rapid antigen test kits, Rhinoswabs.

Rhino recently signed a deal with BTNX, Canada’s largest supplier of rapid antigen tests. The two companies will work together to launch the world’s first test kit for children using the Rhinoswab Junior product.

Medical imaging specialist Resonance Health (ASX:RHT) has been contracted to provide liver-fat quantification services by NSX-listed VGI Health Technology, for the upcoming clinical study on non-alcoholic steatohepatitis drug.

Resonance will be involved in the study for the next 18 months, which will recruit approximately 100 trial participants.

Fatty liver disease is emerging as a major global health issue, and is attracting significant attention from international pharmaceutical companies seeking to develop effective drug treatments, RHT said.

Microcap digital health company 1st Group (ASX:1ST) is set to acquire Visionflex Limited, a rapidly growing Australian-based international provider of proprietary telehealth software and diagnostic devices.

The company is currently raising $2.5m to fund the acquisition.

“By combining 1st’s digital patient engagement and online appointment booking solutions with Visionflex’s video conferencing software and devices, we are creating a world-class solution to deliver clinical telehealth services to almost anyone, almost anywhere,” says 1st Group CEO, Klaus Bartosch.