Tasmanian Alkaloids, one of the world’s largest manufacturers of medicinal opiates, has teamed up with an emerging Australian cannabis company.
AusCann and Tasmanian Alkaloids have entered into a long-term exclusive strategic partnership relating to the cultivation, manufacturing and distribution of cannabis products.
As well as servicing the local market, the partnership will see the exploration of new international opportunities for cannabis based medicines.
Tasmanian Alkaloids’ operations cover around 40% of the world’s alkaloid raw material crop – and all grown within the island state of Tasmania.
It’s an interesting development in that while no-one doubts the amount of good opioid medicines have done over the years; abuse of the same has been a growing problem – and it’s thought cannabis may hold the answer to addressing the scourge of opioid medication dependence.
Previously there had also reportedly been resistance from poppy growers in Tasmania to medical cannabis; and this announcement indicates a change in thinking and recognition of the juggernaut the medical cannabis industry is rapidly evolving into.
The two companies will jointly acquire a licence to cultivate and manufacture medicinal cannabis in Tasmania. According to a report published on The Examiner, all growing activities will be carried out at Westbury; with the medical cannabis used to create pain medications. The companies hope to have a product available within the next 2-3 years.
“Moving into medicinal cannabis leverages the capabilities the company has in being a world leader in agricultural R&D and the extraction and purification of high value plant derived products,” said Doug Blackaby, the CEO of Tasmanian Alkaloids.
The Tasmanian Government has welcomed the announcement.
“This announcement means that these two companies will work together to provide medical cannabis products in Australia from seed to final product under the nationally consistent rules we pushed for,” said Jeremy Rockliff, Minister for Primary Industries and Water.
“We have led the country in calling for a national, evidence-based response to provide safe access to medical cannabis, and this announcement means Tasmania will remain a central focus of the future use of these products.”
Tasmanian Alkaloids employs more than 200 people and works with 500 farmers throughout the state. AusCann secured an Australian medical cannabis licence, issued by the Office of Drug Control, earlier this month. Its other partners include Chile’s Dayacann and Canopy Growth Corporation, the largest producer of medicinal cannabis in the world.