Industry Update: February 2021
15 Apr 2020
• Little Green Pharma confirms first-ever export of Australian medicinal cannabis for patients
• LGP is one of only a few companies with GMP-licensed medicinal cannabis products available in the UK
• The UK industry is forecast to grow to £1.05 billion (A$2.10 billion) by 2024, with an expected 400,000 patients being prescribed medicinal cannabis1
Little Green Pharma Ltd (ASX: LGP, “LGP” or the “Company”) is pleased to announce the first export of Australian medicinal cannabis products for patients has arrived in the UK.
The products are to be distributed in the UK by Astral Health, a UK-based specialist importer and distributor of medicinal cannabis products and subsidiary of the LYPHE Group. The products were imported under the purchase agreement between the Company and Astral Health previously announced to the ASX on 19 February 2020.
On 2 March 2020, the UK Home Office and MHRA announced that import permits may now be granted based on anticipated prescription quantities.2 This announcement sees improvements made to the access pathway for medicinal cannabis, increasing the efficiency of the process of exporting products to the UK.
LGP Managing Director Fleta Solomon said: “Little Green Pharma is one of a few companies with GMP-produced cannabinoid medicines available in the UK. We are proud to be leading the charge in helping patients across the globe access quality Australian medicinal cannabis products.”
Australia’s Minister for Health, the Honourable Greg Hunt said: “This first export of Australian-produced medicinal cannabis oils to the UK marks an important step in fulfilling Australia’s vision of building a global medicinal cannabis industry capable of supplying quality medicinal cannabis products to both Australian and overseas patients.”
The UK industry is forecast to grow to £$1.05 billion (A$2.10 billion) by 2024, with an expected 400,000 patients being prescribed medicinal cannabis.3
1 Prohibition Partners, The UK Cannabis Report, p 14 - 46
3 Prohibition Partners, The UK Cannabis Report, p 14 - 46
An Australian first. Read more on our export of medicinal cannabis for UK patients.