The licence, issued for the federal government, allows the Westbury-based company to produce products containing cultivated cannabis as well research and development.

Tasmanian Alkaloids chief executive officer Doug Blackaby said the company was now one of a few Australian-based medicinal cannabis companies permitted to cultivate, manufacture and supply wholly-Australian produced cannabinoid medicines to certified health professionals.

“Moving into medicinal cannabis leverages the capabilities the company has in being a world-leader in agricultural [research and development] and the extraction and purification of high value plant derived products,” Mr Blackaby said.

“The company and its strategic partner, AusCann, are looking forward to combining this supply chain with AusCann’s medical outreach program and engagement with the medical community to ensure Australian product is available for patients.

“The global sentiment towards medical cannabis is changing with an increasing number of jurisdictions legislating in favour of the use of cannabis for medical purposes.”

Medicinal cannabis is approved in Austria, France, Germany, Israel, Italy, the Netherlands, USA (25 states), Canada, Czech Republic, North Korea, Spain, Uruguay, Chile, Turkey, and Australia.

“Our experienced employees, coupled with Tasmanian Alkaloids’ modern, flexible manufacturing facility will ensure this project will be a success for our company, our project partners, the Tasmanian economy, and the many patients who will ultimately benefit from having access to medicinal cannabis,” he said.

“Based on Tasmanian Alkaloid’s exemplary track-record in manufacturing and supplying opiate products, we were looking for opportunities to diversify our product range and customer reach. Medicinal cannabis is an obvious and natural progression for the company and Tasmania.”