Little Green Pharma Ltd (ASX: LGP) has received over 6,500 units of three new LGP-branded high-THC medicinal cannabis flower products into the Australian market representing the commercialisation of the Danish facility.
The entry of these products into the Australian market follows an 18-month journey from initial strain development and production at the company’s Danish operation following LGP’s acquisition of these facilities in July 2021.
Paired with LGP’s existing flower offering from its Australian facilities, the new products give LGP’s product suite the enhanced depth and product range required to grow LGP’s share of the rapidly expanding Australian flower market.
In addition to these three new products, the company also anticipates receiving 4,000 units of a fourth new flower product concept offering from its Danish facilities in December this year, with over 10 additional strains in various stages of development intended for supply into the Australian and other markets in the coming quarters.
LGP believes ownership of GMP production facilities and control of the supply chain provides the required reliability, product availability and quality needed to compete across all product and market segments, by including competitive advantages such as brand ownership in underlying strains, reduced subcontractor margins, fewer GMP vendor qualifications, reduced stock out risk, improved quality control, manufacturing economies of scale, and reduced reliance on third parties for market participation.
The company believes these advantages successfully position it and its business model to compete strongly in all key markets including through the transition to the new Australian GMP market requirements in July next year.
