Medicinal and cosmetic cannabis company MGC Pharmaceuticals hopes to start selling its cannabis-based cosmetics in Australia within two to three months.
While the company awaits regulatory approval in Australia, it has signed a distribution agreement in the Czech Republic and is pursuing distribution agreements for cosmetic products in Poland, Germany, France and the United States.
But MGC managing director Nativ Segev says MGC’s main goal in Australia and elsewhere is to grow medicinal cannabis and sell an extract from cannabidiol – a non-psychoactive compound – for medical use.
The company has identified epilepsy, cancer and Alzheimer’s disease as possible areas for use of cannabidiol.
Mr Segev says selling cannibidiol-based cosmetics is a revenue-generator while the company pursues its aspirations in the medical field.
Mr Segev says MGC has applied to Australia’s Therapeutic Goods Administration (TGA) for approval to sell cannibidiol-based cosmetics here, and also to the US regulator.
“We have applied to the TGA. They have