Avida Global has announced the acquisition of Nottingham-based BCM Specials Ltd – making Avida Global the only full-service UK cannabis business licensed to operate in the medical cannabis, wellness and cosmetics space.
BCM Specials is the longest established Specials manufacturer in the UK owned by Fareva. The new company, Avida Medical, will manufacture and distribute medicinal cannabis products in the UK, in addition to servicing the existing Specials business.
Earlier this month, the Medicines and Healthcare products Regulatory Agency (MHRA) published new guidance setting out the authorisations required to manufacture unlicensed cannabis-based medicines in the UK.
The guidance, the most significant step in the industry since medical cannabis was legalised in 2018, was welcomed with many saying transparency will encourage investment and lay the groundwork for a healthy domestic medicinal cannabis industry in the UK.
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This acquisition gives Avida Global the accreditation and complete set of licenses required to import, manufacture and distribute medicinal cannabis products in the UK for the human and veterinary market, thereby surpassing this lengthy, complicated and costly process.
CEO at Avida Global, David Kirby, commented: “This transformative acquisition is incredibly exciting and gives us extraordinary potential as a business, giving us immediate access to the UK medical cannabis market, home to one of the largest patient populations using cannabis in Europe.
“We are already seeing substantial interest from clients as a result of this game-changing acquisition which makes Avida Global the only full-service UK cannabis businesses in the medical, wellness and cosmetics space.
“Our primary driver has always been to bring quality to life and we are committed to supplying the highest quality products, working with partners to create new innovative cannabis-based medicines and helping to improve patient access.”
Avida Medical will remain at its current location in Beeston before relocating to a new site in Nottingham later next year, and will be headed up by Paul Parkinson, Chief Operations Officer, MD and Head of UK Operations at Avida Global. Neil Bashforth, General Manager at BCM Specials will assume the role of Managing Director, Avida Medical.