Dragonfly Biosciences UK has struck a deal which will see its CBD products hit the shelves in Australia.
In February 2021, Australian regulations changed to allow the sale of CBD products over the counter in pharmacies.
The UK firm has signed a distribution agreement with Health House International Australia, opening up a big new market for a company already on sale in big chains like Boots and Tesco.
Regan Saveall, chief executive at Dragonfly Biosciences UK, said: “The non-exclusive distribution agreement with Health House International is great news for Dragonfly Biosciences and more importantly our range of CBD products as we extend our global outreach to shoppers in Australia.
“Health House International has a medicinal cannabis portfolio, and like Dragonfly Biosciences, the company is all about providing high quality products and ensuring Good Manufacturing Practices (GMP) with all products certified and meeting the latest country regulations.”
He added: “Reaching consumers with our product portfolios across the globe, like Australia is part of a business strategy at Dragonfly Biosciences, but so too is investment across product innovation in the CBD sector and the continued resources, investments and commitments that we are making as a company across extraction and manufacturing facilities.
“Throughout 2021, we will have further news around product portfolio expansion, together with partnerships and investment plans and announcements.”
Paul Mavor, chief operating officer at Health House International Australian, said: “This agreement is another win for the Health House International and brings the company a step closer to filling the void in the current market which needs reliable, high-quality, affordable medicinal cannabis.
“The Dragonfly CBD brand is sold in thousands of pharmacies and grocery retailers already. It is exactly the kind of product that would fit very nicely on Australian pharmacy shelves.”