NZX-listed Cannasouth has completed its first commercial export of cannabis-based active pharmaceutical ingredients (API) to Australia.
Australian distributor Novachem will supply the company's API and finished products to manufacturers, pharmacies and patients across the country.
Cannasouth CEO Mark Lucas called the shipment a significant milestone for the domestic industry, "highlighting the international demand for high-quality, PIC/s Good Manufacturing Practice (GMP)-certified pharmaceutical ingredients".
He added: “This sets the stage for the next phase of growth for Cannasouth and the industry.
“Following our first commercial export of cannabis flower to Australia in June, we’re now making significant strides in the Australian medicinal cannabis market by expanding our product offering with the supply of high-purity, verified pharmaceutical CBD ingredients.”
Lucas said upcoming improvements to New Zealand's medicinal cannabis scheme — anticipated before the end of the year — "will further enable us to export at scale".
Both of the company's manufacturing facilities now hold GMP status. Cannasouth merged with Eqalis Group earlier this year.
