The partnership of CannTrust and Apotex is gaining momentum, and faster than planned.
CannTrust Holdings Inc. (TSX:TRST) (OTC:CNTTF), one of Canada’s leading licensed cannabis producers, announced today that it is accelerating its exclusive partnership with Apotex Inc.
Apotex Inc. is a private-owned generic pharmaceutical company with aims to produce and distribute high-quality yet affordable medicines.
CannTrust and Apotex: Creating Alternative Dosing Formats
Sooner than initially planned, the companies have begun to develop ‘alternative dosing formats’ for medical cannabis products. The focus has been increased on extensive research and development to achieve this.
The alternative dosing formats should include new quick release and sustained release formats for THC and CBD. If successful these will create innovative and competitive additions to the CannTrust portfolio and the medicines should further sustain CannTrust’s position as a leading force in the medical cannabis market, not only in Canada but also across the world.
This advancement will also mean more choice for a growing market that will come with different demands from healthcare practitioners and patients who will require standardized cannabis dosages.
Once a drug formulation has passed all necessary clinical trials, it will be eligible for Drug Identification Number (DIN) registration.
If approved for a DIN, a drug can be officially classed as a medication and then can be sold in pharmacies, be included in benefit plans, and be distributed to countries globally.
And so, if successful, CannTrust will rapidly expand globally; more specifically, to the 85 countries where Apotex currently distributes its regular pharmaceutical products.
Epidiolex Opened the Door
In June 2018, Epidiolex became the first medicine containing CBD that was approved by the US Food and Drug Administration. The drug was created to help treat two rare forms of epilepsy. Because of its FDA approval, Epidiolex sets a precedent for other cannabis-based medicines to follow and there is an expectation now that CBD will be rescheduled by the Drug Enforcement Agency (DEA) within 90 days. Once this happens, a new legal market will open up for CannTrust‘s supply of standardized medical cannabis products and this market is valued at $1.5 billion.
Brad Rogers, President of CannTrust, said on the partnership:
“Our accelerated pace of research and development with Apotex will create tremendous growth in new dosage formats for medical cannabis in Canada and globally, making their use more acceptable and accessible.”
CannTrust Stock Today
CannTrust Stock has been in the green today since the announcement. It’s not hard to see why.
Featured Image: Deposit Images/belchonock