Join our daily newsletter At The Bell to receive exclusive market insights
- Bod Australia (BDA) has enjoyed medicinal cannabis sales growth during the second half of 2020
- Over the last six months, the company filled 3941 MediCabilis prescriptions — a 91 per cent increase on 2020’s first half
- MediCabilis is prescribed for a range of conditions and is mainly used to treat chronic pain and anxiety
- The company says the sales growth is due to the continued product uptake and strong brand recognition in Australia
- Bod is up 11.6 per cent on the market this morning and trading at 48 cents per share
Bod Australia (BDA) has enjoyed medicinal cannabis sales growth during the second half of 2020.
Over the last six months, the company filled 3941 MediCabilis prescriptions. This was a 91 per cent increase on 2020’s first half and a 114 per cent increase on the previous corresponding period.
MediCabilis is prescribed for a range of conditions and is mainly used to treat chronic pain and anxiety.
Since July 2019, Bod has filled over 8000 MediCabilis prescriptions.
The company says the sales growth is due to continued product uptake and strong brand recognition in Australia. Additionally, Bod has also progressed a number of education initiatives with Australian prescribers, which also increased the sales.
Notably, repeat prescriptions during the second half of 2020 accounted for 62 per cent of the sales volume.
“It is very pleasing to see strong growth and continued support from patients
and physicians for our MediCabilis product,” CEO Jo Patterson said.
“We expect strong demand for MediCabilis to continue across Australia and this growth will continue to add to our revenue profile. Board and management look forward to updating shareholders on sales progress in the coming months,” she added.
Bod is up 11.6 per cent on the market and trading at 48 cents per share at 11:15 am AEDT.
