Little Green Pharma (LGP) has been awarded a tender to keep supplying CBD oil to patients in France as part of the country's ongoing medicinal cannabis trial, now entering its third year.
Under the new contract, LGP will supply up to 11,000 units of its 1:10 THC:CBD oil. Unlike previous arrangements where the medicine was provided at no cost, the company will now be paid €14 (A$23) per unit.
LGP has also lodged a bid to continue supplying its CBD 50 oil, with that tender allowing companies to propose commercial terms of up to €1 million for 22,500 units.
The company said its continued involvement in the trial will build brand recognition and product awareness in France, positioning it ahead of competitors should France move to legalise medicinal cannabis.
LGP first delivered medicine for the trial back in March 2021.
Market research firm Euromonitor has pegged France's total addressable market at $5.6 billion.
Incannex Healthcare
Incannex Healthcare plans to open a Melbourne clinic dedicated to psychedelic medicine, believed to be the first of its kind anywhere in Australia.
Its subsidiary, Clarion Clinics Group, has signed a lease for a premises in Abbotsford. The clinic is expected to open in September and will have the capacity to see 600 patients annually.
Incannex said it has reached a "collaborative agreement" with the country's leading clinical psychedelic specialists, and the company intends to open further clinics in other state capitals before expanding internationally.
An order for MDMA and psilocybin has already been placed with PharmAla, which recently signed a distribution agreement in Australia with Vitura Health.
Incannex director of psychedelic business Peter Widdows called the clinic a "pioneering venture".
"It will implement best practice in psychedelic treatment and aims to positively impact the lives of many people suffering with intractable mental health conditions," he said.
"It alone is a substantial business opportunity and has the potential to expand into a very sizeable venture with the subsequent planned roll-out of numerous clinics."
