Ecofibre (ASX:EOF) Announces Deal With MEDISCA, Marks A Milestone For Cannabis Industry

Ecofibre Limited (ASX:EOF) announced on 19 January that it has entered into an agreement with MEDISCA under which MEDISCA will be an exclusive compounding pharmacy distributor for Ananda Health products in the US, Canada and Australia and Ananda Health is the exclusive CBD finished product to be distributed by MEDISCA. 

Following are some key pointers from the signed deal:

  • EOF’s entire range featuring ingestible, topical, women’s health, diabetic health products will be made available by MEDISCA at its more than 10,000 pharmacies.
  • For the first time ever, a global supplier will be holding ingestible hemp-derived CBD products.
  • The two companies – EOF and MEDISCA have collaborated to determine supply across Australia under the Special Access Scheme (SAS) B programme dedicated to medicinal cannabis goods.
  • The whole range of Ananda Professional products will be available to the US MEDISCA network of over 5,000 pharmacies from February 1, 2021.
  • The minimum sales requirements will be established six months from contract start date.

David Neu, CEO, Ananda Health said that both the firms possess fundamental standards that deeply revolve around education, excellence and customer care.

Panagiota Danopoulos, SVP Global Strategy and Innovation at MEDISCA said that CBD is a thrilling new class that still demands a substantial research and education to safeguard it can change lives of many patients.

Meanwhile, the EOF stock was noted trading at $1.905 per share, up 4.958% with market capitalisation at $615.95 million at market close.