Queensland Bauxite to develop 'game-changing' cannabis pill

THE medical cannabis subsidiary of Queensland Bauxite (ASX: QBL) has signed a landmark deal with a Canadian company to develop a new cannabis pill, one which doctors will be able to recommend and officially prescribe to patients.

Queensland Bauxite's VitaCann division says the pill will be the first of its kind; a pharmaceutical-grade cannabis medicine which doctors will likely be more willing to prescribe than the drug's smoked alternative.

The company came out of a trading halt this morning to announce plans for the medication which it will develop in a joint venture with Toronto-based pharmaceutical company Canntab Therapeutics.

Following the announcement, QBL shares surged more than 71 per cent to trade at $0.089 at the time of writing (10:17am AEST).

There is currently no pharmaceutical-grade cannabis medicine yet available for doctors to prescribe anywhere in the world, however high-THC smoked marijuana is available in countries with health department exemptions including the United States, Canada and Israel.

VitaCann believes the new product could be a market disruptor. Read more

Paris Faint - Business News Australia - 9 Jan 2018


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