Perth-based Little Green Pharma (ASX:LGP) and national private health insurer, Health Insurance Fund of Australia have signed a strategic partnership which shall be responsible for expanding access to medicinal cannabis across the country. Post this partnership, HIF now is the first Australian heath fund to give thumbs up to medicinal cannabis treatments.
The partnership also features research into medical cannabis, the companies declared.
Australia added up 5,972 medical cannabis approvals in October, making the total number of approvals in 2020 to over 45,000.
The HIF shall offer rebates for Little Green Pharma’s medical cannabis products up to A$105.
Meanwhile, the LGP stock traded at $0.400, up 2.56%, with a market capitalisation of $52.44 million at 2:44 PM AEDT.