Regulatory Changes Unlock Global Export Markets
- Jul 30, 2024
- 2 min read
Helius will be able to recognise its global potential with the NZ medicinal cannabis scheme regulatory changes being given the green light by the NZ government in July.
Helius Therapeutics is NZ’s largest producer of medicinal cannabis and has been providing NZ grown, NZ made medicines for the patients of New Zealand since the medicinal cannabis scheme came into effect in October 2021. It operates a vertically integrated 8,800sqm fully licenced facility in East Tamaki in Auckland where the team are proud to operate world class indoor cultivation facilities, cannabinoid extraction suites and manufacturing and packaging all under one roof.
Sally King, Executive Director of the New Zealand Medicinal Cannabis Council, the industry association representing the sector says: “The amendments are the breakthrough the sector has been waiting for. It’s the game changer”.
“The shackles are off. Our NZ grown products can now start to fulfill their potential” says Ms King.
The changes to the MCS mean that exports now need to meet only the standards of the importing jurisdiction, rather than the New Zealand quality standard. The amendments also streamline the licencing process, update testing and laboratory requirements, improve a range of other matters which reduce costs and time for the sector, whilst still maintaining trusted high standards.
Carmen Doran, CEO of Helius Therapeutics since 2021, is optimistic about the industry’s potential to supply patients around the world. “Helius was always built for global scale and a fast ramp-up approach, the regulation changes mean we are now able to transition the partnerships we’ve formed around the world into supplying extracts and flower products for patients.”
Helius holds both Good Agricultural Collection Practices (GACP) and Good Manufacturing Practices Certificates which are recognised in a number of markets around the world including Australia, Europe and South America where demand for high quality, trusted supply chains and unique products are in hot demand, something the company expects to be able to fufill. Ms Doran adds: “Medicinal Cannabis hits a sweet spot for us here in NZ, building upon our strong horticultural experience in breeding, genetics and growing consistent high quality crops and combining it with our strong focus on R&D in a healthcare setting. Being a world-leader in the field of medicinal cannabis is absolutely the goal for the industry!”
Great insights! Slope Run I wonder how these regulatory changes might impact smaller exporters in niche markets. There could be unique opportunities for them to thrive globally as well!
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