A Canadian cannabis producer is stepping into the Australian cannabis landscape through a supply agreement for medical cannabis oil.

New South Wales-based Vir Pharma Holdings has signed on with Sundial Growers (NASDAQ:SNDL) for a three year agreement to receive cannabis oil from the Canadian marijuana company for its oral formulation for chronic pain.

The drug is to be distributed for commercial and research use across Australia and offers an alternative to opioid-based pain treatments, Sundial said.


BRAND NEW! Take Advantage Of Silver On The Rise Before It's Too Late

Everything You Need To Watch The Dollars Come Pouring In!

In an emailed statement to the Investing News Network (INN), Brian Harriman, chief operating officer at Sundial, said the two firms are well aligned for a partnership because of their mutual focus on the therapeutic effects of marijuana.

“Vir Pharma is a company with similar strategic interest in medical cannabis, and we feel our collective capabilities will bring synergistic benefits to both companies,” Harriman told INN.

Since the news was announced last Thursday (January 9), Sundial’s share price has been up just over 5 percent.

Sundial said it expects to send the first shipments of its cannabis oil to Vir before the end of April 2020.

Though Sundial is currently focused on its expansion into Australia, the executive added that the company plans to use information from its agreement with Vir Pharma for future partnerships with other international firms moving forward.

“This is a significant announcement for Sundial and our Heal (medical) business as it will lead to our first global exports and entry into Australian markets,” said Harriman in a press release.

Vir Pharma, a licensed medical cannabis importer and manufacturer in Australia, is currently developing Virabis, a pain treatment drug that’s up for approval from the Therapeutic Goods Administration (TGA), the country’s regulator of medicinal products.

Vir plans on leveraging Sundial’s cultivation expertise with its own experience in medical cannabis product production to further develop medical marijuana-based treatments.

Joel Hardy, CEO at Vir Pharma, said that along with the creation of the cannabis drug, the agreement will allow the firm to start a clinical development program.

Sundial joins the likes of MediPharm Labs (TSX:LABS,OTCQX:MEDIF), another Canadian marijuana company, in branching out into the Australian cannabis market recently.

In June last year, MediPharm announced its first shipments of medical cannabis concentrate to Western Australian cannabis pharmaceutical company AusCann Group Holdings (ASX:AC8).

Aleafia Health (TSX:ALEF,OTCQX:ALEAF) has also been supplying the Australian cannabis space with its branded medical cannabis oils through an agreement with its partner CannaPacific.

Don’t forget to follow us @INN_Australia for real-time news updates!

Securities Disclosure: I, Danielle Edwards, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: MediPharm Labs is a client of the Investing News Network. This article is not paid-for content


Introducing Our NEW Gold Outlook Report

BURSTING With Exclusive Information Not Found Anywhere Else. Don't Get Left Behind!
Grab Your FREE Gold Report Today!
  • Company has received UK Continuing Professional Development (“CPD”) accreditation for its global education platform, Khiron Academy
  • UK medical professionals may now earn CPD credits through Khiron’s medical cannabis education program
  • The Company has entered into a strategic partnership with Cellen Therapeutics, a leader in digital healthcare in the UK, to increase patient access via medical cannabis education
  • As a leading international medical cannabis educator, nearly 1,000 medical professionals in Latin America and the United Kingdom have registered for, or completed, Khiron Academy training

 Khiron Life Sciences Corp. (“Khiron” or the “Company”) (TSXV: KHRN) (OTCQX: KHRNF) ( Frankfurt : A2JMZC), a vertically integrated cannabis leader with core operations in Latin America and Europe is pleased to announce it has received UK Continuing Professional Development (“CPD”) accreditation for Khiron Academy, the Company’s global medical cannabis education platform.

Additionally, following its accreditation, the Company has entered into a strategic partnership with Cellen Therapeutics, a leader in digital healthcare in the UK and fellow founding member of Project Twenty21, to increase patient access through medical cannabis education initially. Khiron Academy will be made available to prescribers in the UK that have registered with Cellen’s MedCanHub, an emerging education portal. Cellen is market leader, widely recognized for also launching the UK’s first digital pain clinic, Leva.

Keep reading... Show less

TRACE’s plant-based and alkaline wellness products to expand into key markets of Japan, China and the Philippines

Emerging leader in innovative health and wellness beverages and consumer products, BevCanna Enterprises Inc . ( CSE:BEV , Q:BVNNF , FSE:7BC ) (“ BevCanna ” or the “ Company ”) announces today its anticipated expansion into the Asia Pacific region, through its wholly-owned subsidiary Naturo Group. After completing a comprehensive market, distribution and partner assessment, the Company intends to initially launch its portfolio of TRACE health and wellness products in the key markets of Japan, China, and the Philippines, through multi-channel distribution outlets including e-commerce, retail, and wholesale.

Keep reading... Show less

Trulieve acquires dispensary permits from Solevo Wellness West Virginia LLC for $650,000

Trulieve Cannabis Corp . (CSE: TRUL) (OTCQX: TCNNF), a leading and top-performing cannabis company in the United States and the largest cannabis company in Florida announced today that it acquired Solevo Wellness West Virginia LLC (“Solevo”) and its three West Virginia dispensary permits for $650,000 . Solevo was awarded two permits in Morgantown and one in Parkersburg in January 2021 as part of the West Virginia application process.

Keep reading... Show less

Better Plant Sciences Inc. (CSE: PLNT) (OTCQB: VEGGF) (FSE: YG3) (“Better Plant”) or (the “Company”) a wellness company that develops and sells sustainable, plant-based products, is pleased to announce that it’s Jusu Home and Body line is now available for purchase on Faire Wholesale Marketplace (“Faire” or “www.faire.com”), an online wholesale marketplace valued at US $2.5 billion. Jusu Home and Body products are currently featured in their “New Arrivals” section.

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/6377/80230_8c77c54544bf884c_001.jpg

Keep reading... Show less

 Aion Therapeutic Inc. (CSE: AION) (” Aion Therapeutic ” or the ” Company “) today announced that it has retained KCSA Strategic Communications (” KCSA “), a leading New York City -based communications firm.

Keep reading... Show less