IDT Receives Manufacture Licence
IDT Australia (ASX: IDT) has been granted a Cannabis Manufacture Licence by the Office of Drug Control (ODC).
IDT is a Melbourne based established pharma manufacturing company that develops and produces high potency and high containment pharmaceutical products for local and international clients.
Their facility already has in place a Good Manufacturing Practices (GMP) certification issued by the Therapeutic Goods Administration (TGA). The facilities also have the requisite Poisons Licensure for handling certain Schedule 8 and 9 drugs.
This means that upon being issues a Cannabis Manufacture Permit by the ODC, IDT is ready to manufacture and supply medicinal cannabis products to Australia and overseas.
In August 2018, IDT signed a deal with Cann Group for manufacturing support, so the granting of this licence gives Australia’s largest medicinal cannabis company the entire chain from seed to final product.
IDT’s CEO Dr David Sparling said, “We are extremely pleased to have secured a Medicinal Cannabis Manufacturing Licence from the Office of Drug Control. With IDT’s long established facilities and expertise in GMP pharmaceutical manufacturing, a licence in our own right to manufacture Medicinal Cannabis products puts IDT in a very strong position in the exciting and rapidly growing global medicinal cannabis market.”