- A major amendment to the French health security bill integrates medicinal cannabis into the national healthcare system
- LGP’s success in the French Pilot Program positions them for significant market advantages
- LGP will exclusively supply medicinal cannabis to existing Pilot patients during a 9-month transition period
- LGP shares last traded at 12.5 cents
Little Green Pharma (ASX:LGP) is primed for substantial growth after a major amendment to the French health security bill paved the way for the integration of medicinal cannabis into the national healthcare system.
The company’s success as a primary supplier and distributor in the 2021 French Pilot Program for medicinal cannabis positions them for significant advantages within this evolving landscape.
Following the Pilot’s extension until March 2024, the French government enacted an amendment supporting the post-pilot supply of medicinal cannabis.
The amendment outlines a 9-month transitional period during which LGP and select suppliers will exclusively provide medicinal cannabis to existing Pilot patients.
A budget of $16.6 million has been allocated for this stage, with LGP offering competitively priced products.
The subsequent Supply Authorisation Period establishes a subsidised public access regime for medicinal cannabis in France.
Suppliers, including LGP, will be granted unique “Authorisation for Use” approvals for a 5-year term, with the potential for renewal.
“Our active involvement as a continuous supplier to the French Pilot program positions the company to be the major player after the Transitional Period,” LGP CEO Paul Long said.
LGP last traded at 12.5 cents.