Carmen Doran, CEO of Helius Therapeutics, has announced that the legalization of medicinal cannabis in New Zealand has brought good news for patients who have been seeking legal access to locally grown and manufactured cannabis products for a long time. In order to export to Europe and South America, Doran emphasized that Helius is now actively seeking investment to accelerate its domestic and international growth plans.
Getting approval for medicinal cannabis products that are truly grown and manufactured in New Zealand is an important milestone for our industry, and another first for Helius. Local patients and their advocates have fought long and hard for genuinely New Zealand-made products that are both high-quality and cost-effective," she added.
Following recent legislative changes regarding medicinal cannabis and the ability for New Zealand companies to finally produce these products locally, over 3,500 practicing pharmacists in New Zealand have been urgently mandated to familiarize themselves with this compound.
New Zealand's medicinal cannabis plan
The final details of a local medicinal cannabis program were announced at the end of 2019, and since then, New Zealand officials have been working to ensure that research license holders are prepared to take the next steps. This includes applying for commercial cultivation and production licenses so that local companies can begin production.
The plan is set to launch on April 1, 2020 and is expected to have a significant impact on many patients who benefit from the drug compound. Additionally, it will expand the national economy through export opportunities and involve multiple industries in sales and production, ultimately increasing the country's GDP. The initiative will be operated through Good Manufacturing Practice (GMP) standards to ensure the quality and consistency of cannabinoid-based medicines, promoting the prescription of safe and high-quality products by doctors.
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