Bod Australia (ASX:BDO) has reported file medicinal hashish gross sales development throughout the 2020/21 monetary 12 months.
In line with the agency, 12,187 items of Bod’s merchandise have been offered throughout FY2021, representing a really spectacular 212% improve on FY2020 when 3,907 items have been offered. The ultimate quarter was a corker for Bod, with 4,441 items offered – 17% increased than Q3, which noticed 3,805 items offered.
The corporate notes 65% of prescriptions crammed throughout FY2021 have been for repeat sufferers.
“Throughout FY2021, the Firm maintained almost a 50% market share for the whole addressable marketplace for excessive CBD merchandise in Australia,” said Bod CEO Jo Patterson.
Ms. Patterson anticipates continued elevated demand for Bod’s medical hashish merchandise within the time forward, additionally mentioning operations within the UK are persevering with to scale up. In the course of June, the corporate introduced two of Europe’s main on-line retailers will inventory Bod’s complete vary of CBII within the UK. CBII is a line of CBD-based merchandise, just lately expanded to incorporate dwelling fragrances and new skincare merchandise.
Additionally forward for the corporate (and quite a lot of others) is tackling Australia’s doubtlessly profitable non-prescription CBD market. Whereas sure varieties of CBD preparations have been down-scheduled to Pharmacist Solely Medicines (Schedule 3) since February, authorized merchandise are but to seem in pharmacies as corporations leap by the regulatory hoops required for the S3 classification for his or her merchandise.
Again in April, we reported Bod was intending finalising its registration technique for brand spanking new Schedule 3 CBD products for Australia; however there doesn’t seem to have been any current information on its efforts on this regard.
Bod additionally has a prescription product out there to Australians – a pharmaceutical grade cannabidiol (CBD) primarily based formulation known as Medicabilis. Whereas not at the moment listed on the Australian Register of Therapeutic Items (ARTG), it may be accessed by the Therapeutic Items Administration (TGA) Accredited Prescriber (AP) and Particular Entry Schemes (SAS).
Again in Could, the corporate mentioned it was launching a brand new product primarily based on one other cannabinoid – cannabigerol (CBG) – which might be offered beneath the MediCabilis model as MediCabilis CBG 50 within the UK.
Whereas cannabidiol and tetrahydrocannabinol are the 2 finest recognized cannabinoids, there are greater than 100 cannabinoids in cannabis (the precise quantity is topic to some debate). A few of these aside from CBD, THC and CBG may additionally have therapeutic advantages.