- Cann Group (CAN) receives a good manufacturing practice (GMP) licence for its Mildura facility in Victoria from the Therapeutic Goods Administration (TGA)
- This licence allows Cann to produce active pharmaceutical ingredients and hard capsules, and conduct GMP-approved activities at its exisiting chemistry and microbiology labs
- The GMP licence could lead to an increase in sales as the company can now perform in-house tests to meet Australian and international requirements
- Additionally, Cann can now sell its medicinal cannabis products in Australia and later, subject to further approvals, for export markets
- CAN shares are up 26.1 per cent and trading at 29 cents per share at 3:38 pm AEST
Cann Group (CAN) has been granted a good manufacturing practice (GMP) licence for its Mildura facility in Victoria from the Therapeutic Goods Administration (TGA).
This licence allows Cann to produce active pharmaceutical ingredients and hard capsules, and conduct GMP-approved activities at its exisiting chemistry and microbiology laboratories.
Essentially, this means the GMP licence could lead to an increase in sales as the company can now perform in-house tests to meet Australian and international requirements.
Additionally, Cann can now sell its medicinal cannabis products in Australia and later, subject to further approvals, for export markets.
“GMP licensing is the regulatory capstone of the Mildura facility, allowing us to cultivate, extract, manufacture, test, and supply finished products entirely in-house,” CEO Peter Crock said.
“With the licence in place, we can now add additional GMP capabilities in response to market demands.”
On the market this afternoon, CAN was up 26.1 per cent and trading at 29 cents per share at 3:38 pm AEST.