Bod Australia Ltd (ASX: BDA, “Bod”) has received its first prescriptions for MediCabilis™ from patients in the United Kingdom.
What are the key highlights?
- The prescriptions were received from a leading medicinal cannabis organisation, which has a number of clinics in London and the UK more broadly.
- The United Kingdom is a major market opportunity for Bod with approximately 7.3m consumers using CBD annually. It is expected to grow in value to US$3Bn per annum by 2024 and to €8.8Bn by 2028. This would represent a market four times larger than Australia in 2028.
- With a presence in Australia and now the United Kingdom, Bod expects prescription volumes to increase materially in the coming months, particularly as brand awareness for MediCabilis™ grows amongst physicians and patients in the UK.