THC Global Obtains License for Australia’s largest medicinal cannabis facility: Australian medicinal cannabis developer THC Global (ASX: THC) has been granted a second manufacturing licence, this time for its large Southport facility,
Australian therapeutic cannabis developer THC Global (ASX: THC) has been granted a second manufacturing license, this time for its large Southport facility, making it the largest licensed bio-pharma extraction facility in the Southern Hemisphere.
According to the company, this paves the way for THC Global to be one of the most competitive cannabis producers in the global export market.
This delivers a real clear pathway for the medical cannabis sector here in Australia to become international.
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Timeline to production:
“Once that’s done, it then leads into the full production and distribution.”
THC has estimated an initial production capacity over 12000 kg of GMP-compliant API isolates for the first year.
The company said it also expects to further process these extracts into finished medicines such as oils, tinctures, and capsules.
Sydney, Australia-based medicinal cannabis manufacturer, THC Global Group announced Tuesday that it got another manufacturing license for its subsidiary.
THC Pharma Pty Ltd from the Australian Office of Drug Control.
The company said its Southport manufacturing site is the largest biopharmaceutical extraction facility in the southern hemisphere.
“We are ready to start GMP API production of medicinal cannabis at globally significant volumes and at very competitive prices,” THC Global CEO Ken Charteris said in a statement.
We expect to be supplying Australian patients with Australian-produced medicinal cannabis by early 2020.
As well as responding to the rapidly expanding global demand for pharma-grade GMP API isolates and planned medicines.”
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THC Global Obtains License for Australia’s largest medicinal cannabis facility