Tasmanian Alkaloids to become medicinal cannabis producer after securing manufacturing licence for Westbury factory

A TASMANIAN company has secured a landmark licence to grow cannabis and produce pain-relieving drugs at its Westbury factory.

A TASMANIAN company has secured a landmark licence to grow cannabis and produce pain-relieving drugs.

Poppy giant Tasmanian Alkaloids will announce to the ASX this morning — with its business partner AusCann — that it has been granted the licence by the Office of Drug Control to manufacture medicinal cannabis at its Westbury facility.

The medications produced will be distributed in Australia and overseas under a partnership between AusCann and the Tasmanian company.

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Tasmanian Alkaloids already produces 40 per cent of the world’s opiate crop and expects to be producing medical cannabis products within three years.

AusCann managing director Elaine Darby said the granting of the Tasmanian licence was a big step.

“This is a major milestone for the strategic partnership and represents significant progress in our joint strategy to become a leading producer and supplier of high quality medicinal cannabis to Australian patients,” Ms Darby said in the statement.

It is estimated there is a market of more than three million patients for the Tasmanian-produced cannabis products.

Until Tasmanian Alkaloids is producing, AusCann will continue to import medicine from its partner Canopy Growth Corporation — North America’s biggest producer of medicinal cannabis.

“Both parties look forward to working together to develop novel therapeutic products for the relief of chronic pain,” Ms Darby said.

Originally published as Tasmanian Alkaloids to become medicinal cannabis producer after securing manufacturing licence for Westbury factory