DRAGONFLY’S GREEN SHOOTS OF GROWTH DOWN UNDER

DRAGONFLY’S GREEN SHOOTS OF GROWTH DOWN UNDER

Pharmacy prescribing of Dragonfly made possible  

British company, Dragonfly Biosciences UK, makers of a leading seed to shelf, award-winning range of CBD oils and skincare products, has received approval from the Therapeutic Goods Administration (TGA) and is now the first international and UK CBD brand listed on the Special Access Scheme (SAS) for approved prescriptions.

Australian regulations changed earlier this year, when the TGA reclassified some strengths of CBD, theoretically allowing them to be prescribed by Australian Pharmacies. However, to be legally prescribed, they needed to be included on the Australian Register of Therapeutic Goods and no CBD products were in the Register. This resulted in the prescribing of CBD being made legal but no products available to legally access. Now, under the Special Access Scheme (SAS), Dragonfly CBD is the first international and UK brand available on prescription. As a result, there is now greater prescription choice across the CBD sector in pharmacies to help with stress, anxiety, sleep or pain in 1000mg 10ml and 3000mg 300ml CBD oil.

This is the latest international business expansion step for the innovative brand, Dragonfly CBD, which is Europe’s largest and leading seed-to-sale CBD and cannabis-derived product range. The Dragonfly CBD brand is sold in thousands of pharmacies, health food stores and grocery retailers across the globe - in the UK, Europe, New Zealand and the United States. It dominates the UK market, with a significant number of retail distribution partners and thanks to the brand’s integrity Dragonfly CBD was the first CBD oil to be stocked by Boots.  As a result, retail listings across community pharmacy, Tesco, Sainsbury’s, health food stores, specialist retailers and other grocery retailers to name but a few retailers, followed fast after Boots. 

Commenting on the exciting Australian development, Regan Saveall, Chief Executive at Dragonfly Biosciences UK says: “We are proud to be leading the way in providing Australian prescribing pharmacies with access to the highest quality CBD products. Use of CBD has been shown in clinical trials to help with a variety of health-related complaints, including sleep, anxiety and pain.”^[1]

Regan Saveall continues: “Dragonfly’s success is embedded in its seed to shelf philosophy, which sees extensive research and development and stringent quality controls throughout the manufacturing process to ensure the highest and most consistent product quality. All of Dragonfly’s CBD products are rigorously tested both in our own and independent laboratories. Every product is standardised to contain specific quantities of cannabinoids including CBD.”

Regan Saveall adds: “This is a fabulous opportunity for pharmacies. In 2020, the global CBD market was valued USD 2.8 billion and is growing at an impressive rate. Dragonfly intends to be at the front, driving this growth. The cannabis industry is booming and it is one of the fastest growing markets in the world. Some estimates predict that the value of the global CBD market may reach USD 5.3 billion by 2025^[i].” 

Health House International Australian Chief Operating Officer, pharmacist Paul Mavor notes: “The ability of being able to now prescribe CBD through pharmacies across Australia, thanks to the TGA re-classification is a win, win and fills a market void across the prescribing sector. The Dragonfly CBD brand is available in thousands of pharmacies, grocery retailers and health food stores already in the UK and Europe. As a result, it is great news for pharmacies in Australia, who can now prescribe this best in class, award winning range and it extends the CBD sector, providing more product formats and choices.”

Dragonfly CBD will be prescribed in pharmacy as part of a non-exclusive distribution agreement with Health House International Australia.  Pharmacies interested in prescribing Dragonfly CBD should contact Health House International Australia.