Australian medicinal cannabis manufacturer Little Green Pharma (LGP) has received a commercial tender to deliver CBD50 Classic oils to the highly regarded French medicinal cannabis trial 1, the largest government-led European trial.
The total award, expected to be generated within the remaining March 2024 trial period, is valued at up to $1.6 million subject to trial demand.
The latest tender award means LGP will be the primary provider of CBD products to the trial until its conclusion in March 2024. It also comes after LGPs recent tender success to supply its CBD 1:20 Classic oils to Trial 3.
In a media release, LGP said prescribing requirements suggest 85 per cent of the expected 3,000 participants will be prescribed a CBD product, making the company the most well-known brand by Trial prescribers and patients.
“The Company is very pleased to be selected by the French Government to continue supplying its GMP medicinal cannabis oil products to its French patients, many of whom it has supplied since the beginning of the Trial,” the company said in a press release.
The Trial program has already demonstrated consistently beneficial clinical outcomes over its first two years, with 91 per cent of the current 1,643 active patients reporting positive results and various expert reports on the trial interim results all providing positive feedback.
According to LGP, its participation in the trial program gives it unique insight and influence over the development of future medicinal cannabis statutory frameworks in France, including its reimbursement status.
France remains one of the largest potential medicinal cannabis markets in Europe and the world.
With a total addressable market of $5.6 billion, LGP said it is optimistic that a future French medicinal cannabis market is one of the most prospective cannabis opportunities available globally.
