A partnership between Western Australia’s Little Green Pharma (ASX:LGP) and health fund HIF will see some of the health fund’s members receive boosted cash back on medical cannabis scripts.
HIF announced yesterday it will pay rebates for medicinal cannabis across most of its Extras policies, with eligible members receiving a maximum rebate of $80 per script. However, where Little Green Pharma products are prescribed the maximum rebate is $105 per script until June 2022.
“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,” said CEO of HIF Justin James. “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.”
Of course, various conditions and annual limits apply. Further information is available here.
Additionally, HIF and LGP will be working together on future research to advance the understanding of medicinal cannabis’s role in health care, with eligible HIF members entitled to priority participation in this research
Managing Director of LGP Fleta Solomon said Little Green Pharma’s “disruptive pricing strategy” has resulted in significant reductions in the cost of medical cannabis products nationally – and this new partnership was another step.
“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,” said Ms. Solomon.
Little Green Pharma offers a number of products in its “Classic” range with varying levels of THC and CBD ratios. Its CBD 50 product contains less than 0.2mg/mL THC and 50mg/mL of CBD, while the highest THC product contains 20mg/ml of the cannabinoid.
In other recent news from LGP, last month the company stated it had been granted a Good Manufacturing Practices (GMP) licence from the Therapeutic Goods Administration (TGA) for its manufacturing facility in Western Australia. With that under its belt, Little Green Pharma says it now holds more than 20 Australian State and Federal authorisations, which enables the company to operate a fully in-house and vertically-integrated cannabis cultivation, production, manufacturing, and wholesale supply chain.
