Health House International will balloon its medical cannabis presence in the UK after inking an exclusive deal with Smartway Pharmaceuticals.
Fresh from swallowing up Europe-focused CanPharma, the company plans to leverage Smartway’s local knowledge and good standing with regulatory authorities to import and supply cannabis-based products using Health House’s supply network.
HHI said the deal marks another step in its pursuit of rapid market share growth in the burgeoning global medicinal cannabis market.
“This agreement between Health House and Smartway will combine the strengths of each party in ensuring that healthcare professionals in the UK and ultimately, their patients have broad access to the very best cannabis-based medicines from all over the world,” chief executive David Attwood said.
Smartway said the deal would enable a quick pathway to market products through more than 1000 UK pharmacies and a global supply network spanning over 100 countries.
“Smartway is a global leader in designing and delivering ethical and compliant access programs for products not yet licenced in a country,” Smartway chief executive Josh Cocklin said.
The company’s Australian Stock Exchange-listed shares had risen 5.26 per cent, trading at 10c today (8:30 am GMT+ 8 hours)