2022 Outlook from CEO Fleta Solomon

2021 was another remarkable year for Little Green Pharma. While not without its challenges, (adjusting to a roadmap out of COVID-19 while having more than 120 employees in four countries!) this year really encapsulated the determination and vision of what we are all about here at LGP.

Our focus from the beginning has always been around patients and their quality of life, and so it was amazing to see the number of patients prescribed our products increase 130% from the previous financial year. This growth was also mirrored by the number of TGA approvals for medicinal cannabis prescriptions, which at the end of 2021 is sitting at over 205,000 approvals from over 3,000 individual prescribers^[1].

While only a month in, 2022 has also seen LGP already pushing the boundaries in our European expansion ambitions, with exclusive multi-year agreements with distributors in Germany and Greece powered by our Australian and Danish facilities. These agreements, with PharmaServe Hellas in Greece and AMP in Germany, will help secure the distribution of LGP branded medicines in the EU’s most established medicinal cannabis market, Germany, as well as in a potentially significant emerging market in Greece.

Elsewhere in Europe, LGP has been awarded a Government tender for medicinal cannabis flower from its Danish Facility into Italy. Italian Government tenders the sole route into Italian flower market, with tender quality standards some of the highest globally and LGP was one of only two suppliers to bid for tender. This Award builds on Company’s growing European market momentum as LGP joins small group of international cannabis producers qualified to supply cannabis flower medicines into Italy, and will see LGP take an industry leader role in the region. Similarly in Poland, we were only the third supplier to submit an application for product registration, cementing LGP as an early mover in the country^[2].

This growth in our distribution footprint, combined with our existing efforts in France and Scandinavia, places LGP in a strategic position to access up to 350 million people in the EU and UK, which represents approximately 68% of the EU and UK population. This demonstrates LGP’s ability to enter potential markets rapidly and consistently with confidence and credibility^[3].

As many in the industry will know, the transition from pioneering start-up to industry leader is never a straightforward journey but LGP has and will continue to consistently smash the goals that drive the expansion and market share of our products.

While this expansion validates both the need for our products and our company’s continued efforts, it also highlights the unique place that Little Green Pharma holds in the market, as a patient-focused and results-driven company driven to fulfil unmet patient therapeutic needs.

The roadmap is unwritten but here at Little Green Pharma we are confident in our ability to deliver and to continue to deliver high quality cannabis medicines as we expand and grow.

Fleta Solomon

[1] Medicinal cannabis Special Access Scheme Category B data | Therapeutic Goods Administration (TGA)

[2] The_Poland_Cannabis_White_Paper.pdf (prohibitionpartners.com)

[3] Canaccord Genuity Estimates – 12 May 2021 (based on Worldometer)

By Little Green Pharma