- Medicinal cannabis company Little Green Pharma (LGP) has been granted a new manufacturing permit from the office of drug control
- The manufacturing permit will allow the company to manufacture cannabis extracts for holders of Therapeutic Goods Administration (TGA) GMP manufacturing licences to produce medicinal cannabis products
- The company is now waiting on the medicinal cannabis cultivation and production permit, which will allow Little Green to begin planting at its expanded facility
- Little Green is up 19.4 per cent on the market today and is trading for 40 cents per share
Medicinal cannabis company, Little Green Pharma (LGP) has been granted a new manufacturing permit from the office of drug control.
The manufacturing permit will allow the company to manufacture cannabis extracts for holders of therapeutic goods administration (TGA) GMP manufacturing licences to produce medicinal cannabis products.
Little Green has an exclusive agreement with its GMP-licenced manufacturing partner to produce the products.
The permit is valid for one year and ends in March 2021. This new permit will also allow the company to commence in-house extraction once the next crop is harvested, which is set to reduce costs and improve efficiencies.
Managing Director Fleta Solomon said receiving this permit also gives the company the capability to manufacture cannabis extracts at its manufacturing premises.
“We are now only waiting for our expanded ODC Medicinal Cannabis Cultivation and Production Permit which, once granted, will allow us to begin first planting at our expanded cultivation facility and to significantly expand our production operations,” she said.
“This increased production capacity will give Little Green Pharma the ability to meet both Australian and offshore demand for medicinal cannabis products,” Fleta added.
The company is now waiting on the medicinal cannabis cultivation and production permit, which will allow Little Green to begin planting at its expanded facility.
Little Green is up 19.4 per cent on the market today and is trading for 40 cents per share at 1:03 pm AEST.