Creso Pharma imports Australia’s first medicinal cannabis shipment
Creso Pharma (ASX: CPH) and Health House International Pty Ltd have successfully imported the first medicinal cannabis products to arrive in Australia under new government legislation.
The import was of a range of three cannabis oils for human health from Canadian medical cannabis group, CanniMed. The oils will be used for a variety of conditions as approved by prescribing physicians under Australian Federal and State laws and regulations.
Health House will now distribute the CanniMed® products across Australia in authorised pharmacies in compliance with Federal and State legislation. On 2 February 2017, Creso Pharma announced on the ASX that it has entered into a Letter of Intent for the import and sale of cannabis products in the Australian market with Health House International.
The successful import follows Health House International being granted a Federal import licence in February this year as part of the Australian Federal Government’s move to authorise the importation of medicinal cannabis from international sources to boost domestic supply until there is sufficient local production available for Australian patients.
“This successful first import of medicinal cannabis products into Australia is an unprecedented achievement for both Creso Pharma and Health House International, and a groundbreaking moment for patients and the medicinal cannabis industry in Australia,” said Creso Pharma Group Chairman and Co-Founder, Boaz Wachtel.
“The Australian medicinal cannabis market is an important market for Creso and this agreement positions us strategically to facilitate and help meet the immediate but unmet need thus far of timely access to medicinal cannabis locally. Medicinal cannabis has been shown in a number of countries around the world to be alleviating a variety of medical conditions. CanniMed’s first-rate supplies into Australia will help patients enormously, especially those in acute pain and for various chronic conditions.”
Health House International Director Paul Mavor added: “We are excited to be working with Creso Pharma and to be playing a key part in the Australian Government’s efforts to improve access to medicinal cannabis in the local market. Being able to supply Australians with some of the world’s best medicinal cannabis oils is a tremendous achievement and will make it far easier for patients to access, under a doctor’s prescription, medicinal cannabis from overseas sources.”