Rua Bioscience Limited (NZX: RUA ) formally announced today that it has received its first order via its German distributor Nimbus Health, marking a significant commercial milestone for the export-focused company.
Managing Director, Anna Stove, says “Receiving this order for dried flower from Nimbus signifies just how close we are to cementing export revenues and providing German patients with a sustainable supply of Rua medicines”.
The order is for Rua’s high THC flower, which has been developed through an extensive R&D programme by Cann Group, Rua’s Australian manufacturing, supply and technical services partner. In Germany, medicinal dried cannabis flower is prescribed mainly for pain patients (70%), and cannabis flowers with a THC content of greater than 20% make up 77% of cannabis flower prescriptions (1).
“At its launch, we believe Rua’s flower will be one of the highest THC dried flower medicines on the market, which will give Rua a significant competitive advantage,” she says.
While Rua looks to global markets, the company remains committed to its connection to Te Tairāwhiti and to patients across New Zealand having launched its first product in Aotearoa in April.
“The kaupapa to give back to the community will always be in our DNA and entering global markets will secure meaningful revenue so we can continue prioritising sustainable economic development in the Ruatorea and East Coast communities,” says Stove.
ENDS
Nimbus is a fully licensed pharmaceutical wholesaler and manufacturer from Germany with its own warehouse facilities and an independent sales force to promote medical cannabis-based products to pharmacists. Nimbus Health is a wholly-owned step down subsidiary of the global pharma company Dr. Reddy’s Laboratories Ltd. Learn more at: www.nimbus.health
Cann Group is an established ethical leader in Australia’s emerging medicinal cannabis industry, building a world-class business focused on breeding, cultivating, manufacturing and supplying medicinal cannabis. Cann has established research and cultivation facilities in Melbourne and a new state-of-the-art cultivation and manufacturing facility near Mildura, Victoria. Learn more at: www.canngrouplimited.com | www.satipharm.com
Rua aims to be a leading producer of cannabinoid-derived medicines for both export and local markets. Rua has been an early mover in the sector and was the first private company in New Zealand to receive a licence to cultivate cannabis for research purposes. Founded in 2017 in Ruatorea as a subsidiary of the charitable company Hikurangi Enterprises Limited, Rua is underpinned by a mission and its connection to its local community in Te Tairāwhiti. The company operates state-of-the-art cultivation and manufacturing facilities from its regional base. www.ruabio.com.
Rua Bioscience Confirms First International Order
Comments from our readers
No comments yet
Add your comment:
Related News:
VTL – Director Resignation – Reg Barrett
Infratil 2022 Sydney Investor Day
AIA – Auckland Airport considers retail bond offer
October 19th Morning Report
SCT – Scott Announces FY22 Results
Manawa Energy Q2 Operating Report & Market Guidance Update
IKE 1H FY23 Performance Update
GSH – Annual Meeting and Director Nominations
PGW Trading Guidance Update
October 18th Morning Report
