Aether Pacific Pharmaceuticals Unveils Fijian Expansion Plans For Medicinal Cannabis Export Into Global Markets
New Zealand: Medicinal research and nutraceutical wellbeing company Aether Pacific Pharmaceuticals Ltd (‘APP’), trading as Medical Kiwi, is pleased to confirm that is has entered into a strategic partnership with the Fijian government to develop strategic medicinal cannabis initiatives in Fiji.
The People’s Coalition Cabinet of Fiji has agreed that the Ministry of Trade will enter into a three-year Memorandum of Understanding (MOU) with APP, establishing a framework for cooperation and collaboration between APP and the Government to jointly foster the development of Fiji’s medicinal cannabis sector.
APP’s planned expansion into Fiji follows an extensive period of consultation with the Fijian government. The MOU framework presents the company with a strategic avenue to expand its manufacturing operations in a cost-effective environment, alongside the opportunity to exclusively export Fijian medicinal cannabis to meet growing demand worldwide.
APP's leadership in New Zealand's medicinal cannabis sector positions it well to support Fiji. APP has already established a high-quality cannabis cultivation facility in Christchurch, being one of the first companies in New Zealand to be licensed for cannabis cultivation and supply in 2020.
In tandem with APP’s expansion into Fiji’s medicinal cannabis industry, the MOU also sets out plans to establish a strategic nutraceutical hub which will encompass an advanced extraction and manufacturing facility. This hub will enable the commercialisation of novel botanical compounds of APP’s subsidiary company, Hardie Health, through ongoing research and product development efforts, for use across a range of applications.
Additionally, APP intends to facilitate a toll processing service to kava suppliers, to facilitate value-added products for export. This initiative aligns with APP's objective to build out its suite of traditional medicinal remedies and deliver high-quality botanical products to global markets.
APP’s global scale-up strategy is supported by a US$30 million investment commitment from GEM Global Yield LLC, providing APP with financial flexibility to drive its growth in international markets.
Mr. Aldo Miccio, CEO of Aether Pacific Pharmaceuticals Ltd, commented on the significance of the partnership with the Fijian Government:
"After 16 months of extensive consultation with the Fijian Government and Stakeholders, we are thrilled to collaborate with the People’s Coalition Cabinet and the Ministry of Trade to support the establishment of Fiji as a leading hub for medicinal cannabis. Our investment underpins our commitment to driving innovation, economic development, and sustainable practices in the Pacific region. The agreement also positions the Company to expand its global manufacturing footprint in a cost-effective environment to meet growing international demand, while also benefitting from a collaborative approach to new product development in the field of plant-based medicine. We look forward to providing more updates in the year ahead as we advance our strategic initiatives across Fiji and the broader Asia-Pacific region.”