SYDNEY: THC Global Group Limited has signed a binding agreement with JC Logistics Limited trading as Medleaf Therapeutics for THC Global to produce and supply pharmaceutical GMP medicines for Medleaf in New Zealand.
Medleaf was established in 2018 and has become a major supplier of cannabis medicines in New Zealand. Medleaf has a well-established supply chain across New Zealand, rapidly increasing sales through 2019-2020 and strong relationships in the patient advocacy community.
Medleaf strives to remain as New Zealand’s leading medical cannabis company by offering patients quality medicines at affordable prices. From 1 October 2020, new enhanced regulation of medicinal cannabis medicines take effect in New Zealand requiring all medicines supplied in New Zealand to be submitted for review and registration.
THC Global’s medicines will be compliant with these new regulations, and accordingly, THC Global will seek registration of these medicines prior to supply to Medleaf.
THC Global and Medleaf expect to supply these white-labelled medicinal cannabis medicines to New Zealanders with notably better affordability than previously available.
Medleaf Therapeutics CEO, Courtney Letica, commented: “The new cannabis medicine regulations in New Zealand are a significant opportunity for established brands to reach more patients in need who may benefit from medicinal cannabis. We are happy to be engaged with THC Global and look forward to working with New Zealand doctors to make cannabis medicines more accessible for New Zealanders.”
THC Global CEO, Ken Charteris, commented: “By increasing our production of medicines from our Australian facilities, we’re able to improve efficiency and price competitiveness whilst still delivering industry leading quality, which will continue to build as we supply additional customers such as Medleaf, and Australian patients.
“We are very pleased to be working with Medleaf as one of New Zealand’s leading cannabis medicine brands, and look forward to working together on providing choice in high quality and affordability of medicinal cannabis to patients in New Zealand”.
THC Global is a diversified global cannabis company with primary operations in Australia and Canada. THC Global is the first ASX listed entity to fully own and operate end to end commercial medicinal cannabis production facilities under Australia’s cannabis regulations. THC Global’s Southport Facility is one of the largest pharmaceutical GMP cannabis manufacturing facilities in the world.THC Global also owns and operates Crystal Mountain, a fast growing hydroponics equipment and supplies wholesaler and retailer servicing the rapidly expanding cannabis sector in North America and Europe.
Medleaf Therapeutics has a mission to introduce safe, high quality medicinal cannabis products as prescription medicine for the betterment of people’s lives in New Zealand. Medleaf Therapeutics were the first New Zealand medical cannabis company to successfully import medicinal cannabis since under New Zealand legislation.