Bod Australia Limited (ASX: BDA) came up with an announcement on November 20, 2018, i.e., today regarding the successful securement of an export licence for medicinal cannabis. This export licence will provide BDA with an ability to export the medicinal cannabis products that are being manufactured across Australia to the International markets.
The initial focus will be towards the export of its sublingual cannabis wafer products in European countries. The initial concentration of BDA will be on the markets of Germany, the United Kingdom, Belgium, and Switzerland. The company has built a significant presence in these countries and will utilize its long-term relationships with its existing partners such as Linnea SA, a subsidiary of Schwabe and Ipsen to further drive its products across different geographies. BDA under its strategic plan will explore new opportunities in Asian markets after its success in Europe and after proper regulatory approvals.
The Schwabe Group with its focus towards the pharmaceutical industry specializes in herbalism and homeopathy based finished drugs, herbal or homeopathy remedies, dietary supplements of medicinal plant origin and other services which include holistic health care and self-help has its presence worldwide with its establishment of approximately 93 companies across the world. The group reported its sales of approximately €1Bn.
Ipsen with a market capitalization of approximately €12Bn had its headquarter in Paris is basically a French pharmaceutical company primarily that focusses on the development and marketing of medications used in oncology, endocrinology and for the treatment of neuromuscular disorders.
BDA will also leverage its relationship with one of the largest providers of raw materials for BDA natural medicine products and pharmacy operators in Belgium, Tilman.
The wafer technology provides an easy to deliver, higher absorption and pharmaceutical grade medicinal cannabis products. The wafer technology with its license from Singapore specialty pharmaceutical company and with its exclusive partnership with iX Biopharma is presently patented across 20 countries, which includes The People’s Republic of China, Canada and the majority of the European Union.
Excellent quality of BDA cannabis extract has helped towards securement of the distribution partnership with the largest pharmacy retail group of Australia, Chemist Warehouse. BDA will use its extensive network channel and its credibility towards further discussion with the global pharmacy groups for the distribution of medicinal cannabis products.
CEO, Jo Patterson of Bod Australia in his presentation mentioned regarding one more exceptional development for Bod that will provide a strategic advantage to the company. The Phase 1 clinical trial of BDA unique cannabis wafer product is reaching its conclusion stage within coming weeks, and with this conclusion of the Phase 1 clinical trial, Bod will be in a position to deliver its globally unique methods to the various countries such as Switzerland, UK, and Germany. BDA with its significant presence in these initial target markets is looking forward to the further discussions with its established partners, Linnea SA to drive sales agreements. Securement of the export license will strengthen the company position and will place it as a global leader in medicinal cannabis sector and expects to sell the finished products internationally by Q3 FY19. After the announcement regarding the grant of the export licence, the scrip finds support and is up by 0.9% at the levels of $0.56.
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