Burton company joins UK medicinal cannabis race
A Burton company has been granted Home Office approval to cultivate, process and pack medicinal cannabis ready for sale to the pharmaceutical market.
The news comes after Dalgety underwent an inspection from the UK Medicines and Healthcare products Regulatory Agency (MHRA).
James Leavesley, chief operating officer at Dalgety, said: “The granting of this licence after three years of investment and development means we now join the limited few that are at the forefront of this burgeoning market.
“The opportunities are substantial; not just for the businesses and investors harnessing the economic potential of the industry, but for patients that cannot access the high quality GMP approved cannabis that Dalgety can provide.”
The UK medical cannabis market is forecast to reach $1.1 billion by 2024. By 2028, it is predicted to reach $8.8 billion, making it the second largest in Europe and potentially serving 1% of the country’s population.
The updated licence allows Dalgety to cultivate and manufacture EU-GMP grade high THC-medicinal cannabis from its state-of-the-art UK-based facility. The resulting medicinal cannabis will primarily be distributed to the pharmaceutical market and then made available to patients via a medical prescription from a licensed doctor.
Leavesley said: “We are on the cusp of a market boom in this country – the granting of upgraded licenses to companies such as ourselves being a significant step forward. Having our own UK-based state-of-the-art facility, as well as working with other UK-based cannabis medical product manufacturers, will ensure UK patients have a high quality and reliable source of medical cannabis – in turn removing any supply chain obstructions that none-UK producers are currently facing.
“The next step for us is to complete the cultivation of our first commercial crop and continue the expansion of our team in finance, quality and regulation, medicinal research and development roles. We will also be focussing on a second round of investment to not only support these additions to our team, but to put in place plans for the further development of our highly secure and purpose built indoor growing facility.”