PriceSensitive

Little Green Pharma positions itself for growth in France’s emerging medicinal cannabis market

ASX News, Health Care
ASX:LGP      MCAP $42.40M
07 December 2023 10:59 (AEDT)

This browser does not support the video element.

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.

Related News