IDT SECURES MEDICINAL CANNABIS MANUFACTURING LICENCE

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IDT Australia Limited (ASX: IDT) is pleased to announce that the Department of Health  ‐ Office of Drug Control has granted the Company a Medicinal Cannabis Manufacturing Licence under the Narcotic Drugs Act 1967.

The Licence authorises IDT to undertake the following activities in specified areas of the Company’s licenced premises:

a) the manufacture of extracts and tinctures of cannabis and cannabis resin (Drug) in accordance with one or more manufacture permits;

b) activities relating to such manufacture, including but not limited to the following (as applicable):

i. the supply of the Drug;

ii. the packaging, transport, storage, possession and control of the Drug;

iii. disposal or destruction of the Drug.

 IDT’s manufacturing and packaging facilities already have in place a Good Manufacturing Practices (GMP) licence issued by the Therapeutic Goods Administration (TGA).  The facilities also have the requisite Poisons Licensure for handling certain Schedule 8 and 9 drugs.

The Medicinal Cannabis Manufacturing Licence complements IDT’s existing pharmaceutical manufacturing capabilities and facilities.    IDT’s long history of manufacturing both Active Pharmaceutical Ingredients (API’s) and Finished Dosage Forms fits well with the opportunities presently available in the medicinal cannabis space.    IDT’s API manufacturing abilities allow the Company to GMP manufacture a range of precursor products such as cannabis resins and cannabinoids.  The Company is also able to develop GMP finished dosage forms such as tinctures, liquids and solid oral dose (tablets and capsules) for both clinical trial and commercial applications.

  “We are extremely pleased to have secured a Medicinal Cannabis Manufacturing Licence from the Office of Drug Control” said IDT’s Chief Executive Officer Dr David Sparling.    “With IDT’s long established facilities and expertise in GMP pharmaceutical manufacturing, a licence in our own right to manufacture Medicinal Cannabis products puts IDT in a very strong position in the exciting and rapidly growing global medicinal cannabis market.”

For further information please contact: IDT Australia Limited Dr David Sparling – Chief Executive Officer   0417 721 972

This article originally appeared here in https://www.weedworldmagazine.org/2019/05/21/idt-secures-medicinal-cannabis-manufacturing-licence/

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