SYDNEY: Health House International Limited (ASX:HHI) announced that its wholly-owned subsidiary CanPharma GmbH has secured the supply of the cannabis extract, dronabinol.
Dronabinol is a formulation consisting of pure THC, the active ingredient in cannabis. Dronabinol was the first cannabis compound available in the German market and forms a mainstay of German prescriptions.
As previously announced, CanPharma will be a preferred supplier to a number of statutory health insurance (“SHI”) funds for a selection of its CanPharma branded flowers and extracts.
This new source of supply will enable CanPharma to enter into further framework agreements with SHIs for dronabinol on competitive terms.
CanPharma Chief Executive Officer, and Health House Executive Director, Dr Henrik Sprengel, said “This agreement allows us to access a supply of dronabinol on favourable terms which we believe will place us in a strong position for further framework agreements with SHIs.”
Health House Chief Executive Officer, David Attwood said: “We are pleased that CanPharma has been able to expand its range to include dronabinol, a core product for the market. The requirement for GMP manufacturing licence from statutory health insurers gives us an advantage compared to most players when it comes to bidding on further contracts”.
In Germany public healthcare is provided through SHI funds that cover 90% of the population, with the remainder being covered by private health insurance companies.
CanPharma is one of the few German cannabis companies eligible to join framework contracts with insurers due to its GMP manufacturing licence.