AusCann expands partnership with Canopy

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Medical cannabis company AusCann (ASX:AC8) has announced that it has received an import permit under its existing import licence and will soon receive finished cannabis oils from its major shareholder, Canopy Growth Corporation.

The company said it and Canopy Growth are pursuing opportunities in several key areas in Australia including the importation, distribution, and local production of medical cannabis products.

AusCann confirmed it will initially import the Canopy-supplied AusCann branded products for chronic and neuropathic pain control known as AC 5:5, AC 0:9.5, and AC 15:0. Each name represents the ratio of tetrahydrocannabinol (THC) to cannabidiol (CBD) in each product.

In addition, it said the companies are also working on developing an arrangement under which Canopy will also supply AusCann with Spectrum Cannabis branded products for it to distribute in the Australian market. Spectrum Cannabis is Canopy Growth’s international medical brand, operating under a simple colour-coded system to classify its medical cannabis products.

AusCann has previously announced it signed an agreement with API, one of Australia’s leading distributors of pharmaceutical products. The agreement establishes a logistics relationship for the distribution of AusCann’s medical cannabis products throughout API’s extensive nationwide pharmacy network.

AusCann said it will expand its medical liaison team to educate Australian doctors about cannabinoid medicines as a therapeutic option in a number of disease areas. The company has already appointed three pharmaceutical industry professionals to manage doctor communications and assist in the prescription of its cannabinoid medicines. It and Canopy will develop a medical outreach program to educate doctors throughout Australia on cannabinoids as a therapeutic option. The medical outreach program will identify key opinion leaders in each target disease area and provide them with products, training, and clinical studies.

According to AusCann managing director Elaine Darby, “Our ongoing relationship with Canopy Growth offers major benefits for AusCann, and we are very pleased to be working with Canopy Growth as the Australian market expands. The combination of this arrangement and our strong partnership with Tasmanian Alkaloids, positions us to be the leading supplier of affordable, effective, and clinically-validated cannabinoid medicines to the Australian market and select international markets.”