Kiwi Medicinal Cannabis Company Eqalis Signs First Supply Agreement With Australian Pharmaceutical Distributor

Leading Aotearoa New Zealand medicinal cannabis company Eqalis has signed an agreement with Australian pharmaceutical distribution company Novachem to bring Eqalis’ medicinal cannabis products into the Australian market, as the company gears up for international export.

Novachem has a network of customers in Australia including pharmacies, manufacturers, and research institutions.

The agreement will allow for the distribution of Eqalis’ active pharmaceutical ingredients (API) and finished products to Australian manufacturers, pharmacies and patients. Export shipments are planned to begin in 2023 as soon as the Medicinal Cannabis Agency confirms Eqalis’ pending applications for verification with the minimum quality standard.

The Australian medical cannabis market size was US$66.0 million in 2022 and is forecast to reach revenue of US$540.6 million in 2030, opening further opportunities for Eqalis.

Greg Misson, Eqalis Managing Director says this partnership is significant and is a good indication of the growing demand for locally produced medicinal cannabis products globally.

"This is the first deal we know of to export New Zealand API extracted from cannabis plants and oral solutions that can be administered to patients. This is a significant point of difference to our New Zealand competitors who are exporting non-GMP cannabis flower, and unlocks a high value market for Eqalis,” says Misson.

“Australia is a leading market for cannabis-based medicines, and we’re thrilled to be a first mover across the Tasman as we cater to demand for our high quality, affordable product to a broader market. “

“At Eqalis, our focus is on creating better health outcomes for patients through our suite of innovative products and technologies covering cultivation, extraction and manufacturing. The IP behind our GMP certified facility in Katikati with its sophisticated manufacturing and extraction capabilities enables us to set up for further international expansion.”

“We have several deals in the pipeline for other jurisdictions which we expect to announce in coming months. As more countries legislate for medicinal cannabis products, we are gearing up to provide our API and finished products to patients across the world.”

Novachem’s Cannabis Products and Business Development Manager, Andrew Heath says the partnership between Eqalis and Novachem is a fantastic opportunity for all parties.

“We’re thrilled to provide Eqalis’ CBD API and finished products made in their New Zealand GMP certified manufacturing operations to our local Australian manufacturers, pharmacies and patients,” says Heath.

“Australian regulations and controls restrict Australian distribution companies sourcing finished products for wholesale supply. Our ability to sponsor and provide the Eqalis product for patients in Australia is a win-win trans-Tasman partnership,” Heath said.

Eqalis recently announced its proposed 50:50 merger with NZX listed Cannasouth, to truly improve patient access to natural cannabis-based medicines.

That merger will see the two companies come together to deliver better outcomes for patients – both locally and globally – by combining IP, technology, research and development, innovation, manufacturing, sales and prescribing capabilities.

Greg Mission added, “Currently, the most significant barrier to the widespread uptake of medicinal cannabis is affordability for patients. The creation of the merged company, with true vertical integration, will bring diversification to the industry, without duplication – with the result being a substantial lowering of costs to patients using medicinal cannabis.

“Together Cannasouth and Eqalis have greater ability to shape the New Zealand industry and make an impact offshore, which we’re incredibly excited about as we focus on reducing costs and delivering better outcomes for patients.”

About Eqalis

Eqalis is a leading medicinal cannabis company from the Bay of Plenty focused on improving quality of life for all New Zealanders by providing effective cannabis-derived medicines and wellness products that are both accessible and affordable.

© Scoop Media