Celebrating 25 Years of Scoop
Special: Up To 25% Off Scoop Pro Learn More

Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


NUBU Pharmaceuticals and MGC announce distribution agreement

NUBU Pharmaceuticals and MGC announce exclusive distribution agreement

Auckland, 30 October 2018 – New Zealand medicinal cannabis-based products company NUBU Pharmaceuticals (NUBU) has secured an exclusive distribution agreement with one of Europe’s leading cannabinoid-based pharmaceutical companies, MGC Pharmaceuticals.

The exclusive agreement was announced at the global cannabis conference, CannaTech, held in Sydney today and attended by co-founder and Chief Executive Officer of NUBU, Mark Dye, and MGC Pharmaceuticals Managing Director, Roby Zomer, and its Scientific Advisor, Professor Uri Kramer.

Dye says “it is our aim to herald in a new era of lower costs, through competitive pricing and increased market accessibility. For example, the wholesale price of cannabinol-based products (CBD) has fallen by 20% over recent months and we would expect this to drop further in the future.

"MGC Pharmaceuticals has one of the world’s only EU certified GMP cannabis processing plants – meaning its products are made to the highest pharmaceutical manufacturing standards in the world.”

Dye says NUBU was formed when he and his business partner, Will Douglas, became aware some Kiwis in need were struggling to access medicinal cannabis.

“In 2016, while hosting a national talkback radio show, I was shocked to hear about the difficulties some New Zealanders had to go through to access medicinal cannabis.

“Our goal is to make CBD products more accessible and affordable for New Zealanders in need, so as they don’t have to turn to the black market.

Advertisement - scroll to continue reading

Are you getting our free newsletter?

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.

“The overwhelming public demand for better access to CBD products gave us the inspiration to establish NUBU.”

Dye adds that NUBU is closely following the progress of the Misuse of Drugs (Medicinal Cannabis) Amendment Bill currently going through Parliament.

“We are hopeful the Bill will receive Royal Assent and become law in the New Year. Once this happens we want to produce and manufacture our own range of high-quality medicinal cannabis products locally, combined with developing New Zealand made, ‘value-add’ cannabis products to export to consumers in Europe and North America.”

Dye also says NUBU have been working closely with a team of international experts for the last two years to design a state-of-the-art energy-efficient glasshouse as a growing facility, as well as a world-leading manufacturing facility.

“Excitingly, we are now going through our second capital raise (the first was oversubscribed), whilst securing leases to build our glasshouse and manufacturing and distribution centre, it is all go.”


© Scoop Media

Advertisement - scroll to continue reading
Business Headlines | Sci-Tech Headlines


Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.