AusCann Group Holdings (ASX:AC8) aims to bring Australian patients access to high quality, cost effective, cannabinoid medicines.
Market size / potential in Australia is with chronic (3.8M patients) & neuropathic pain sufferers (1.8M patients). Cannabinoid medicines offer many benefits including a reduction in side effects / opiates.
Challenges to its use include education of Australian Medical Community and AusCann are using the Canadian Market as blueprint.
- Canadian expert Dr Daniel Schecter appointed Chief Medical Advisor
- Medical outreach program
- Liaison Managers
- Mentorship program
- Online courses
In Canada, the market has grown from 8000 patients in 2014 with its introduction to 170k+ patients in 2017 and is projected to increase to over 500k+ patients projected by 2021
Focus for the year ahead: Importing Canadian product from Canadian company Canopy Growth Corp, increasing understanding of the benefits among Australian Doctors and increasing its prescription, application for Australian licences to grow local product.