Bod Australia (ASX:BDA) launches new medicinal cannabis product

  • Bod Australia (BDA) is set to launch its new medicinal cannabis product, MediCabilis CBG 50, in the U.K.
  • The new cannabigerol (CBG) product will be sold under the MediCabilis brand and will be rolled out to certain U.K. doctors and healthcare physicians
  • The launch follows a strong quarter of MediCabilis prescriptions in the U.K., with the company seeing a 90 per cent increase in prescriptions in Q3 FY21 compared to the previous quarter
  • Bod says it expects prescription volumes will continue to grow following the release of the company’s new CBG product, and ongoing education initiatives to promote its products
  • Bod Shares are up 8.75 per cent, trading at 43.5 cents

Bod Australia (BDA) is set to launch its new medicinal cannabis product, MediCabilis.

The new cannabigerol (CBG) product will be sold under the MediCabilis brand as “MediCabilis CBG 50” in the U.K.  CBG is a non-intoxicating cannabinoid compound in the cannabis plant, which research has shown can address alternative therapeutic areas to THC and CBD.

The launch follows research and development assessments, as part of the company’s approach to developing specific cannabis cultivators and product formats for current and future product development.

The company says the market for CBG is in its early stages and is expected to grow significantly over the coming years.

Initially, Bod says it will focus on launching the product in the U.K. through select doctors and healthcare physicians.

This announcement comes after a strong quarter on MediCabilis prescription growth in the U.K. During Q3 FY2021 the company filled 59 MediCabilis units, marking a 90 per cent increase on the previous quarter.

Bod says it expects continued growth of U.K. MediCabilis prescription volumes following the launch of its new CBG product and the ongoing education initiatives to promote the company’s products.

“The launch of a new CBG product, under the widely recognised MediCabilis brand, will provide the Company with a number of opportunities to increase prescription sales and scale-up research and development,” said Bod CEO Jo Patterson.

“To further scale up U.K. medicinal cannabis sales, Bod is progressing educational initiatives, as well as working with large industry bodies to grow its market share,” she added.

“This is a similar approach to how the Company has tackled the Australian market and we expect growth to continue over the remainder of the calendar year and beyond,” she concluded.

Bod Shares are up 8.75 per cent, trading at 43.5 cents at 12:50 pm AEST

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