IDT Australia Limited (ASX: IDT) along with Cann Group Limited (ASX: CAN) together announced that the activities pertaining to GMP extraction are under progress for the first batch of medicinal cannabis resin.
These medicinal cannabis resin would be used an Active Pharmaceutical Ingredient in the production of GMP medicinal cannabis oil products and would be made available for purchase as an API. After getting formulated and packed, the cannabis oil products will undergo the process of stability testing to support a targeted commercial release in late March 2019.
The extracted resin will be formulated into a complete range of GMP medicinal cannabis finished dosage form products which comprises of high THC, high CBD & balanced formulations.
There is no one left untouched by the charm of the multibillion-dollar global boom in cannabis. Its glorious journey from a criminalized drug to being used in over 20 countries for treating medical conditions.
No wonder the cannabis stocks are on the edge of a green rush. Don’t miss out on the happenings in the cannabis sector and take advantage of the growth phase of this sector by subscribing to our report on Marijuana stocks in Australia.
Find out the drivers for the rise in cannabis stock rates Even though the cannabis sector is in its growing phase, Australian cannabis stocks have already started to rise actively due to a hastily increasing patient base, and a legislative landscape that is gradually beginning to liberalise.
Outreach and future of cannabis stocks As countries liberalise regulation for medical and recreational use of cannabis, it is predicted that the industry would grow sharply in upcoming years The global cannabis market stands currently at around $8 billion and it is expected that the hemp derived CBD market to hit approximately $22 billion by 2022.
Key Players in the sector Althea Group Holdings Limited (ASX: AGH) and Cann Group Limited (ASX: CAN) are amongst the top players. Other Australia cannabis market players are- MGC Pharmaceuticals Ltd (ASX: MXC), Elixinol Global Limited (ASX: EXL), THC Global Group Limited (ASX: THC), AusCann Group Holdings Limited (ASX: AC8)