Listed cannabis group scores major deal with Good Price wholesaler
Written on the 5 June 2018 by David Simmons
Bod Australia Limited (ASX: BDA) has signed an agreement with a leading Australian pharmacy wholesaler, Symbion, to service major Aussie pharmacies.
Under the agreement, Symbion will stock Bod's range of natural medicines and pregnancy supplements.
Symbion is one of Australia's leading pharmacy wholesalers, servicing over 3,500 customers across Australia including Good Price, Terry White Chemmart and Blooms.
The wholesaler has 10 warehouses located across Australia and the partnership will allow Bod to grow its already strong customer base into more pharmacies and specialty retailers around Australia.
Bod Australia CEO Jo Patterson says the company now has access to most of the Australian pharmaceutical market.
"Not only does this agreement provide ongoing validation of our product range, but coupled with the recent progression of our relationship with API, it provides the company with access to over two thirds of the Australian pharmaceutical market," says Patterson.
Bod Australia is a developer and distributor of cosmetics, natural medicines and health supplements.
The company has a multi-faceted cannabis business underpinned by its partnership with Linnea Natural Pharma Solutions and manufacturing agreement with Singapore listed company iX Biopharma.
The company is in the process of developing over the counter and therapeutic products based on cannabis extracts, including its Medicabilis oil (pictured).
In February 2018, the company announced it began importing cannabidiol powder to create a new cannabis-based wafer which is absorbed under the tongue.
In addition to its extensive reach in Australia, the company also targets Asian markets through 'daigou' relationships.
Shares in Bod Australia are down 0.76 per cent to $0.66 per share at 11.18am AEST.
Business News Australia
Author: David Simmons