What has become of Bundy’s medicinal cannabis crops
ROWS of green and a medical dream - medicinal cannabis has become a reality for THC Global.
What began with medicinal cannabis crops growing in Bundaberg has expanded to the point of preparation for international export for the Australian company.
CEO Ken Charteris said their operation was growing rapidly, so much so they have increased their Queensland employment by 35 per cent throughout the COVID-19 pandemic.
"We are now actually providing patients in Queensland, New South Wales, Victoria with Bundy-grown cannabis, extracted in our facility to TGA GMP standards which are now being prescribed by doctors under the Special Access Scheme...," he said
"Bundaberg has played a part as the first medicine fully grown, developed and now being prescribed in Australia under all the regulations, so it's a great result for Bundaberg."
Mr Charteris said they were still waiting the appropriate licensing for their Eden Farm facility, one of the company's sites in Bundaberg, but that hasn't stopped them from growing the business.
Through new agreements with various companies THC Global has been able to maintain their momentum in bringing medicine to patients.
"We're lucky we were actually able to expand our Bundaberg facility which gave us a higher yield of crop," he said
"The economic environment and the slowness of the growing facilities in Australia, says that those projects are still there but until we get licences there's no commitment or construction to go forward."
He said the another element to their business was the work they are doing with Cannatrek Limited.
Mr Charteris said Cannatrek had material, licenced and grown, but didn't have a manufacturer that could "validate".
He said the production agreement was not only helping other Queensland growers, but also patients.
"As a company our main aim is to provide medicine to Australian patients, and I think Australian patients have waited a long time to get affordable medicine," he said.
While confirming their commitment to Bundaberg, Mr Charteris said they were also working with Canadian crude and biomass from other Queensland growing facilities which enabled them to create a full range of medicine.
He said the company would export to New Zealand in October and they have distribution agreements in place for Europe and Canada.
"Australian medicine has now been developed here in Australia and there's what we call an expiry date in validation and stabilisation," he said.
"Our product now goes out the door three months, for international we need a minium of six months so all the international orders and uptake will happen in the last quarter, because naturally they have to have an expiry date that's reasonably long.
"New medicine's under TGA have to go through a time clock."
Mr Charteris said they were delivering to patients.
"It's no longer a joke anymore, patients have suffered long enough," he said.
"We've done it."