UK based Celadon Pharmaceuticals plc i received the Green light for high-THC drug production hemp at the Midlands facility, London South East reported.
What happened: This is the The first company in the United Kingdom to be awarded a Good Manufacturing Practices or GMP registration By the Medicines and Healthcare Products Regulatory Agency for the production of medical marijuana on UK soil.
This step comes after seven seasons of harvesting and extraction in 2022 and the inspection of the facility by the Ministry of Health and Population in the fourth quarter.
why does it matter
Celadon Pharmaceuticals was founded in 2018, the same year that medical marijuana was legalized in the UK, and is positioned to have its fair share of a market expected to exceed £1 billion by 2026, according to analysis Cannabis market intelligence firm Proption Partners.
Celadon recently said that patients in the UK are currently dependent on imported products, which often leads to delays and higher costs.
“With the receipt of its GMP registration, Celadon joins a very select group of cannabis-focused pharmaceutical companies globally,” He said James Short, CEO of the company. “This is a huge achievement for the company given the significant capital and regulatory requirements in this sector.”
Furthermore, Celadon claims that this move makes it one of the few global companies with the ability to produce high-quality EU THC cannabinoid API.
Before high-THC medical cannabis can be sold in the UK, the Home Office needs to update a company’s existing license to reflect its GMP status.
“While there is no guarantee that the Home Office will update the existing license, nor any time frame for this, the directors are confident that the license will be updated in due course,” Celadon said in a statement.
The UK opened the first of them Specialized medical cannabis clinic In 2019. The Manchester-based facility commenced operations after the United Kingdom Reschedule some hemp products Allow medical professionals to prescribe.
Interestingly, the Canadian cannabis giant Aurora hemp company ACB ACB It has been on the market for years through collaboration with UK-focused biopharmaceutical company Grow Group PLC. Aurora Germany GmbH is a subsidiary of Aurora and the Grow Group Signing a two-year market access services agreement For the UK in May 2021.