Supporting new medical cannabis venture

Michael Ferguson,Minister for State Growth

Tasmanian Alkaloids’ new medical grade cannabinoids operation will not only benefit patients, but will also assist with our economic recovery and create jobs for Tasmanians.

Officially opened today, the new facility at Westbury can extract 90 tonnes of raw material each year. That will make around 9 million bottles of medical cannabis.

The Tasmanian Liberal Government has supported this expansion into medical cannabis with a $10 million commercial loan to help fund the new state-of-the-art secure facility.

This support is aimed at delivering new local jobs as we recover and rebuild a stronger Tasmania, as well as establishing our state as a recognised source of medical-grade pharmaceutical products.

We are proud to support the company as it looks to establish itself as the largest fully-commercial and licensed medical grade cannabinoids operation in Australia.

Tasmanian Alkaloids is a globally recognised market leader in alkaloid raw material manufacturing, with an operating model based and fully integrated in Tasmania.

This new venture is a clever move with the growing demand for medical grade cannabinoids in treating conditions where conventional treatments have failed.

Tasmanian Alkaloids now directly employs 140 staff and provides significant supply chain benefits for numerous Tasmanian farms and businesses.

Today’s announcement once again reinforces that Tasmania is open for business, and it will further enhance our international reputation for advanced manufacturing.

Congratulations to Tasmanian Alkaloids for its medical cannabis project and thank you to the Office of the Coordinator-General for its ongoing efforts in facilitating this important investment for our state.

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