FREE DAILY STOCK MARKET NEWS

FREE DAILY STOCK MARKET NEWS

Little Green Pharma growing at home

24 November 2022 09:36
ASX: LGP

Little Green Pharma have delivered over 6500 units of three new branded and high-THC medicinal cannabis products from its Danish facility into the Australian market.

It represents both the commercialisation of its Danish facility and a growing LGP presence into an Australian medicinal flower market undergoing rapid growth.

Already supplying the Australian market from home-grown facilities, the new products deepen the provider’s roots, with its ownership of the supply chain bringing greater production availability and control.

It comes on the heels of today’s release of a study from The University of Sydney finding that Australians using prescription products have risen dramatically.

While Australians are still medicating from illegal sources, the study found 37 per cent of respondents have received a legal prescription for cannabis, a steep rise from the 2.5 per cent reported in 2018.

“A number of benefits were identified in moving to prescribed products, particularly where consumers reported safer ways of using medical cannabis,” lead researcher Professor Nicholas Lintzeris said.

Academic Director of the Lambert Initiative for Cannabinoid Therapeutic Professor Iain McGregor said there should be further efforts to transition patients from illicit sources to quality-controlled products.

“There are advantages in using prescribed medical cannabis over illicit cannabis — these include safer routes of administration, greater certainty of access, and better communication between patients and doctors,” he said.

Entry of LGP Denmark’s products into the Australian market is the result of an 18-month undertaking, moving from initial strain development to production, and now contributing to a deep roster of products.

Little Green Pharma anticipate the arrival of 4000 units of a fourth new product from Denmark in December, with over ten more strains to be introduced into Australian and international markets over the coming quarters.

LGP’s Australian Stock Exchange-listed share price has risen 5.71 per cent today, currently selling at 18c (9.31 am UTC+8 hours).

The Market Bull Logo

FREE DAILY STOCK MARKET NEWS

Join our mailing list to receive the latest stock market news.

You have Successfully Subscribed!

Share This