Medical cannabis a growing industry

ADELAIDE-BASED medicinal cannabis company BBS Pharmaceuticals is gearing up for first production of cannabis and medicinal products this year, with the construction of its facility in regional South Australia under way.

The company said once it was complete, the regional facility would provide 40 ongoing jobs, plus another 15 management and support positions in the first year.

Executive chairman George Vanco said the company had designed its growing facility to be carbon neutral, powered by solar, wind and battery power, and it was also designed to be scalable as the company grew.

“BBS has both cultivation and manufacturing licences,’’ Mr Vanco said. “As such it is a vertically integrated pharmaceutical company that undertakes the entire process to produce medical cannabis products.”

Mr Vanco said the recent passage of the Export Control Legislation Amendment (Certification of Narcotic Exports) Bill 2020, was a step forward for the industry, as it would allow the export of medicalgrade cannabis.

Australia is a net importer of medicinal cannabis but Mr Vanco said he expected that would change over the next year or so “as Australia’s infrastructure for the growing of medical cannabis grows and it capitalises on its clean and green agricultural reputation’’.

BBS itself does not import any raw materials from overseas for production of medicinal cannabis products.