- THC Global and distribution partner Endoca, continues to build a presence in New Zealand by providing CBD products
- Unlike Australia, New Zealand, patients can seek a prescription for CBD products just like any other medicine – making New Zealand patients more accessible
- In June this year, the company launched a CBDinfo platform to provide quality information on CBD products – 100 medical practitioners have since enrolled
- THC will continue to drive awareness as it prepares to distribute its Australian-made products in New Zealand
- THC Global’s shares are down 2.56 per cent today, with shares trading at 38 cents each
THC Global continues to build its presence in New Zealand by providing cannabidiol (CBD) products to patients under a distributor agreement with Endoca.
THC and Endoca first announced their exclusive distribution partnership in November 2017. Under the agreement, THC has been distributing its European-based partner’s medicinal hemp products in Australia.
However, the company is building a presence in New Zealand which is reportedly more straightforward compared to Australia.
In Australia, THC has faced regulatory hurdles for the supply of medicinal hemp to patients. In New Zealand, patients can seek a prescription for CBD products just like any other medicine, and without the need for government approvals.
As a result, New Zealand has a larger, immediately accessible patient population compared to Australia.
To provide patients with the best available information on CBD products, THC Global provided financial assistance to DATAPHARM, a New Zealand healthcare company, to launch CBDinfo.co.nz.
CBDinfo provides medical practitioners evidenced information about the use, availability, and potential benefits and risk of using CBD products.
Since the launch in June 2019, over 100 medical practitioners have enrolled.
THC Global is committed to providing New Zealand prescribers access to high-quality information and guidance on CBD products, including Endoca’s.
So far, initial sales of Endoca’s CBD products have been positive which can be largely attributed to THC funding educational events to drive awareness of Endoca’s CBD products.
These activities will allow the company to enter the New Zealand market with its own Australian-produced medicine range next year. THC expects product validation by the end of December.
This range will be pharmaceutical Good Manufacturing Practice (GMP) certified medicines produced from its Southport Manufacturing Facility.
THC Global’s shares are down 2.56 per cent today, with shares trading at 38 cents each as at 4:10 pm AEDT.