Business<\/p>\n
27 Sep, 2021 11:56 PM2 minutes to read<\/p>\n
Rua Bioscience has won certification to start making medicinal cannabis product. Photo \/ Supplied <\/p>\n
NZX-listed Rua Bioscience has won certification from Medsafe to start making its first medicinal cannabis product - a cannabinoid (CBD) oil.<\/p>\n
Good Manufacturing Practice (GMP) certification is the global standard for all pharmaceuticals and certifies that Rua can make a product that is consistently safe and of acceptable quality.<\/p>\n
Certification is a pre-requisite for both domestic and export sales.<\/p>\n
Chief executive Rob Mitchell said it was a significant milestone for Tairwhiti-based Rua.<\/p>\n
\"GMP certification means we've moved a long way down the path to being allowed to manufacture products,\" he said in a statement.<\/p>\n
The next stage is to submit a new medicinal cannabis product application to the Medicinal Cannabis Agency.<\/p>\n
Once that process is complete, Mitchell anticipates being able to supply product for the domestic market by early 2022.<\/p>\n
Manufacturing will take place Rua's purpose-built facility in Gisborne and the compounded CBD oil will be available in New Zealand as a prescription-only medicine.<\/p>\n
Rua's certification comes after a series of delays.<\/p>\n
CBD oils are commonly prescribed in New Zealand for pain, epilepsy and anxiety.<\/p>\n
Germany is the largest single market for pharmaceutical) grade cannabis globally.<\/p>\n
Clinicians there can prescribe medicinal cannabis for a variety of conditions, many of which are covered by the statutory health insurers.<\/p>\n
Shares in Rua Bioscience debuted on the NZX one year ago at 70c cents, a 20 cent, or 40 per cent premium to its 50 cent issue price.<\/p>\n
The stock last traded at 41.5c, up 2.5c or 6.4 per cent.<\/p>\n
Midwest Pharmaceutics NZ Limited, NZX-listed Cannasouth's wholly owned subsidiary, has GMP Certification for packing and wholesale supply of medicines.<\/p>\n
Cannasouth said it is progressing with its GMP certification for own-manufactured cannabis-based products and would update the market with this timeline \"in due course\".<\/p>\n
The company is also in the process of having three imported own-brand GMP medicinal cannabis products assessed by the Medicinal Cannabis Agency for distribution.<\/p>\n
Unlisted medicinal cannabis company, Helius Therapeutics, was issued with the industry's first GMP certificate by MedSafe in July.<\/p>\n
<\/p>\n
See original here: <\/p>\n
Rua Bioscience wins certification to make medicinal CBD - New Zealand Herald<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Business 27 Sep, 2021 11:56 PM2 minutes to read Rua Bioscience has won certification to start making medicinal cannabis product. Photo \/ Supplied NZX-listed Rua Bioscience has won certification from Medsafe to start making its first medicinal cannabis product - a cannabinoid (CBD) oil. Good Manufacturing Practice (GMP) certification is the global standard for all pharmaceuticals and certifies that Rua can make a product that is consistently safe and of acceptable quality Continue reading