West Perth-based Little Green Pharma said it completed the first-ever commercial export of Australian-produced medical cannabis oil to the United Kingdom.
The shipment moves Australia into competition with countries such as Canada and the Netherlands in the competitive – but so far unlucrative – medical cannabis export market.
In March, the U.K. eased import restrictions for medical cannabis.
Now, licensed wholesalers are able to import larger quantities of cannabis-based medicine and hold supplies for future distribution.
“This first export of Australian-produced medicinal cannabis oils to the U.K. marks an important step in fulfilling Australia’s vision of building a global medicinal cannabis industry capable of supplying quality medicinal cannabis products to both Australian and overseas patients,” Greg Hunt, Australia’s Minister for Health, said in a statement.
Little Green Pharma’s products will be distributed in the U.K. by Astral Health.
Over a year ago, Little Green Pharma became the first Aussie company to locally grow and produce medical cannabis for domestic sale.
Shares of Little Green Pharma are traded on the Australian Stock Exchange as LGP.
The U.K.’s full guidelines on importing medical cannabis are available here.