Little Green Pharma has won a commercial tender to supply CBD50 Classic oils to the highly-regarded French medicinal cannabis trial (“Trial”)1 , which is currently the largest Government-led trial in Europe and the only available pathway for the supply of medicinal cannabis in France. The supply price is $77 (€442) per bottle, with the total award valued at up to $1.6 million (€1.0 million), subject to Trial demand, which the Company believes will be generated within the remaining March 2024 Trial period.
The award joins LGP’s recent tender success to supply its CBD1:20 Classic oils to the Trial3 and means LGP will be the primary provider of CBD products to the trial until its conclusion in March 2024. The prescribing requirements suggest ~85% of the expected 3,000 participants will be prescribed an LGP CBD product, making LGP the most well-known brand by Trial prescribers and patients. The Company is very pleased to be selected by the French Government to continue supplying its GMP medicinal cannabis oil products to its French patients, many of whom it has supplied since the beginning of the trial. The trial has already shown consistently beneficial clinical outcomes over its first two years, with 91% of the current 1,643 active patients reporting positive results and various expert reports on the Trial interim results all providing positive feedback.