Greenfern Begins Distributing GMP Medications In Australia, With Promising Early Uptake From Prescribers

Greenfern Industries has begun to make significant inroads into the Australian medicinal cannabis market, signing a distribution agreement with Cannvalate Pty Ltd.

Greenfern’s wholly owned Australian subsidiary GFI Pharma Pty Ltd, and GFI’s New Zealand senior management team have been developing a strategic relationship with Cannvalate to develop awareness of the GFI Pharma brand across the 3000+ doctors and 600+ pharmacies in their network. Cannvalate has extensive business interests in the medical cannabis sector in Australia. Interests include the largest network of prescribing doctors and dispensing pharmacies. Australia is one of the world's largest cannabis markets outside of North America.

Greenfern managing director Dan Casey said GFI Pharma has two pharmaceutical GMP (good manufacturing practice) medications that have been manufactured in Australia and are now available to Australian patients. Greenfern will also look to offer the GMP medications to New Zealand once local approvals have been obtained.

GFI is leveraging Cannvalate’s extensive network to collate real-world data from patients. This activity is part of a wider scope of work being led by GFI Pharma to research and develop the safety and efficacy of cannabinoid medications.

There has been significant and immediate uptake on the GFI Pharma range and over $100,000 of medication has already been sold into distribution channels.

The relationship between Greenfern and Cannvalate extends to Epsilon Healthcare and The Valens Company, both of which are involved in the manufacture of GFI Pharma’s two medications. Epsilon recently announced it would make its Queensland-based production facility available to Canadian medicinal cannabis manufacturer The Valens Company under a long-term partnership.

Background

Greenfern Industries listed on NZX on the 21st of October 2021. The market has strongly supported the new listing.

Greenfern’s main business is the production and distribution of medicines and food from cannabis and hemp plants.

The company aims to be a leading New Zealand product and wholesale distributor of medicinal cannabis products as well as hemp-based health and beauty products, and hemp-based foods.

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