• Viewed 10,240 times by 3014 users (Last 30 days)
  • print Created with Sketch. Print
LGP 7.07% 53.0¢

LITTLE GREEN PHARMA LTD - Corporate Spotlight

Established in 2016 as a privately-owned company in Perth, Western Australia, we have... Established in 2016 as a privately-owned company in Perth, Western Australia, we have been supplying Australian patients with naturally grown medicinal cannabis products since August 2018. Little Green Pharma’s growth strategy is initially focused on continued expansion in Australia, followed by expansion into European and other international markets.More

Recently Updated

Corporate Spotlight

Established in 2016 as a privately-owned company in Perth, Western Australia, we have been supplying Australian patients with naturally grown medicinal cannabis products since August 2018. Little Green Pharma’s growth strategy is initially focused on continued expansion in Australia, followed by exp
View the full Corporate Spotlight arrow Created with Sketch.

AUSTRALIA FIRST: LGP SHIPS TO GERMANY

AUSTRALIA FIRST: LGP SHIPS TO GERMANY

arrow-down-2 Created with Sketch.


Australian first: Little Green Pharma (ASX: LGP) sends medicinal cannabis oils to Germany

Health Care

ASX:LGP    

Australian first: Little Green Pharma (ASX: LGP) sends medicinal cannabis oils to Germany

Source: LGP

  • Little Green Pharma (LGP) has become the first Australian company to send medicinal cannabis oils to Germany
  • The company has exported 2400 oils, valued at $600,000, to German pharmaceutical importer CC Pharma
  • The shipment is expected to clear German customs next week, then the oils will complete a batch testing before being sold in the country 
  • Germany is the third-largest medicinal cannabis market globally — behind the U.S. and Canada — and is the largest market in Europe.
  • On the market this afternoon, Little Green is up 8.57 per cent and trading for 38 cents per share

Little Green Pharma (LGP) is the first company to export Australian medicinal cannabis oils to Germany. 


The company has sent an initial 2400 units, valued at $600,000, of its cannabis oils to German pharmaceutical importer CC Pharma. The shipment is expected to clear customs next week. 


Once they arrive, the oils will be batch-tested and released for sale on the German market. 


Germany is the third-largest medicinal cannabis market globally — behind the U.S. and Canada — and is the largest market in Europe. 

Managing Director Fleta Solomon is pleased to supply CC Pharma with the medicinal cannabis oils. 


"The demand for Little Green products signifies not only a vote of confidence in the company, but also in the ability of Australia’s homegrown medicinal cannabis industry to compete with major international medicinal cannabis companies to supply the German market," she said. 


"With our expanded cultivation and manufacturing facility, Little Green is well placed to ensure consistent supply to both Australia and offshore markets in the future," she added. 


Earlier this month, the company entered a strategic partnership with private health insurer HIF. Under the deal, HIF will issue a $105 rebate per script to eligible members for medicinal cannabis products. 


On the market this afternoon, Little Green is up 8.57 per cent and trading for 38 cents per share at 12:14 pm AEDT.



Read the full article on The Market Herald here.

LGP THE FUTURE OF MEDICINAL CANNABIS

arrow-down-2 Created with Sketch.

Little Green Pharma (LGP)’s recent partnership with health insurer HIF shows how medicinal cannabis treatments could shake-up the lucrative pharmaceutical market in Australia and beyond.


Under the deal, HIF will offer a rebate of up to $105 per bottle of LGP's cannabis oils, substantially reducing the products’ recommended retail price. Crucially, by making medicinal cannabis more affordable, LGP and HIF have opened the door for the treatment's wider use.


They've also placed the drug in direct competition with comparable prescription and over-the-counter medications, not to mention patients currently treating themselves with cannabis sourced from the black market.


The market as a whole

There's no doubt about it — the pharmaceutical industry is big business.


The global pharma market was assigned an estimated worth of US$1.25 trillion (around A$1.72 trillion) in 2019, having tripled in worth in the last 18 years.


In Australia, the pharmaceutical market is much smaller in comparison but still manages to have an estimated worth of over $25 billion in 2020.


The Federal Government has already declared it spent $12.7 billion subsiding prescription medication last year as part of its Pharmaceutical Benefits Scheme (PBS), which subsidises the cost of common prescriptions.


Looking at ASX-listed businesses, leading drugmaker CSL (CSL) recorded US$8.8 billion (around A$12.1 billion) in sales revenue for the 2020 financial year, as well as US$2.1 billion (approximately A$2.9 billion) in profit after tax.


The ongoing value of the pharma markets also coincides with the growing demand for both prescription and over-the-counter drugs.

A recent survey found nine million Aussies currently take a prescribed medicine every day, while eight million take two or more prescribed medicines each week. It also estimated two million people take over-the-counter medicine daily and more than seven million take a complementary medicine daily.


Given the demand and market size of the medicines industry, Little Green Pharma's partnership with a health insurer shows cannabis is a legitimate competitor in the business of treating chronic and acute ailments.




Little Green Pharma explained

So what exactly is Little Green Pharma, and how is it different to other cannabis companies?


LGP first began as a privately owned company back in 2016 and has grown to become one of a handful of vertically integrated cannabis business listed on the ASX.


This means it both cultivates, produces, manufactures and wholesales its cannabis products, with both the cultivation and manufacturing plants located onsite together in WA's southwest.


The company is fully licenced by Australian authorities, recently receiving a Good Manufacturing Practices (GMP) licence from the Therapeutic Goods Administration (TGA) for its new manufacturing facility.


Its cultivation plant was also expanded over the last year and now comprises nine flowering rooms, two mother plant rooms, and two vegetation rooms.


Altogether, that's enough product to manufacture over 110,000 bottles of medicinal cannabis oil per annum: Little Green Pharma's main product. 


The company produces four different cannabis oil which contain different formulations of both CBD and THC — the two main components of cannabis prescribed for pain, inflammation, nausea, spasticity and seizures.




Source: LGP Prospectus

Accessing LGP's oils


Currently, Australian patients are able to access Little Green Pharma's range of cannabis oils via three different pathways, including the Special Access Scheme Category B (SAS-B) — where healthcare practitioners, including GPs, can obtain approval to prescribe medicinal cannabis to individual patients.


The other two options are the Authorised Prescriber Scheme —where authorised doctors can prescribe specific medicinal cannabis products for any patient diagnosed with a specific condition — and clinical audits and trials.


These are the main options available not only for Little Green Pharma, but for other cannabis producers as well. While cannabis is legal, it's still not available as a registered prescription medicine for the substantial majority of conditions.

Despite the barriers to accessing the product, more than 6700 patients have accessed LGP's range of medicinal cannabis oils as of September 2020.



Enter HIF

However, with the backing of a major insurance fund, Little Green Pharma's range of products will become more affordable for Australians to access going forward.


LGP Chief Operating Officer Paul Long has described the deal as a "milestone" which will open the door for medicinal cannabis as a treatment going forward.


"This partnership is hopefully one of many, but it really acknowledges the fact that medicinal cannabis is becoming mainstream for clinical practitioners and for patients across Australia," he said.


HIF CEO Justin James agreed and said cannabis was too often overlooked as a treatment option for many Australians.

"What is clear to us in feedback is that patients are keen to see alternatives to standard prescription medicines," he explained.

"Medicinal cannabis is becoming far more widely accepted and we know that it has multiple benefits, and can treat multiple life-stage illnesses" he added.


Looking ahead, Little Green Pharma believes its partnership with HIF will be the first of many as the healthcare industry wakes up to the benefits and possibilities of medicinal cannabis treatments.



Read the full article here on The Market Herald. 


LGP PARTNERS WITH HIF

arrow-down-2 Created with Sketch.


Little Green Pharma (ASX:LGP) partners with HIF

Health Care

ASX:LGP    


Little Green Pharma COO - Paul Long 

HIF CEO - Justin James



  • Medicinal cannabis company Little Green Pharma (LGP) has entered a strategic partnership with private health insurer HIF
  • Under the deal, HIF will issue a $105 rebate per script to eligible members for medicinal cannabis products
  • Additionally, the partnership will support future research into medical cannabis, as HIF members will have priority participation in the research
  • HIF is the first major Australian health fund to publicly support medicinal cannabis treatments


Little Green Pharma (LGP) has entered a strategic partnership with private health insurer HIF. 


Under the deal, HIF will issue a rebate to eligible HIF members for medicinal cannabis products. The deal aims to improve access to and the affordability of medicinal cannabis. 


Additionally, the partnership will support future research on the role medical cannabis can play in improving quality of life, as certain HIF members are entitled to priority participation.


This contract represents the first time a major Australian health fund has publicly backed medicinal cannabis treatments and its usefulness for Australians who are suffering from numerous health conditions. 


Little Green Pharma is a West Australian business that creates its own medicinal cannabis oils. 


Under the rebate, HIF members will receive up to $105 back per eligible medicinal cannabis script. The partnership is set to last between 18 months and two years, depending on the length of the study.

 

Little Green Pharma Managing Director Fleta Solomon said the partnership is exciting for both parties. 


"Our company has always had Australian patient access at the forefront. We were the first company in Australia to launch with locally-grown and affordable medicinal cannabis products," she said. 


"Our disruptive pricing strategy led to the cost of medicinal cannabis products being significantly reduced in price nationally. We are proud to further contribute to driving improved affordability and our partnership with HIF, another patient-focused company, will mean better access to medicinal cannabis products for patients across Australia," she added. 


HIF CEO Justin James said partnering with Little Green Pharma was in line with the company's goal to provide new, alternative treatment choices to its members. 


"We are exceptionally pleased to be the first Australian health fund to publicly declare our support for medicinal cannabis treatments and provide our members with rebates on these products," he said. 


"As a member-based health fund, our community is the motivation for everything we do, so assisting members through treatment options that can dramatically improve quality of life across different life stages is a key focus," he concluded. 



Read the full article on The Market Herald here. 

ABOUT US

arrow-down-2 Created with Sketch.


First in Australia


Little Green Pharma was the first medicinal cannabis company in Australia to produce locally-cultivated medicinal-grade cannabis oil products.


We are a responsive organisation that has a proven ability to quickly adapt and succeed in a dynamic, fast-moving market environment. 


Producing Cannabis Oil in Australia since 2018


Established in 2016 as a privately-owned company in Perth, Western Australia, we have been supplying Australian patients with naturally grown medicinal cannabis products since August 2018. Little Green Pharma’s growth strategy is initially focused on continued expansion in Australia, followed by expansion into European and other international markets.




Stringent quality growing and manufacturing standards


We cultivate our medicinal cannabis plants in accordance with stringent Australian quality standards in the South West of Western Australia and manufacture our products in a Good Manufacturing Practices (GMP) certified facility in Perth.




VIDEOS

arrow-down-2 Created with Sketch.
(20min delay)
Last
53.0¢
Change
0.035(7.07%)
Mkt cap ! $71.26M
Open High Low Value Volume
50.5¢ 53.0¢ 50.5¢ $466.8K 895.9K

Buyers (Bids)

No. Vol. Price($)
1 2265 52.5¢
 

Sellers (Offers)

Price($) Vol. No.
53.0¢ 1 1
View Market Depth
Last trade - 16.10pm 30/11/2020 (20 minute delay) ?
(live)
Last
52.0¢
  Change
0.035 ( 6.49 %)
Open High Low Volume
51.0¢ 53.0¢ 51.0¢ 58387
Last updated 15.26pm 30/11/2020 (live) ?
LGP (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.