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