KUALA LUMPUR (July 14): Duopharma Biotech Bhd said it is working with parties to explore the feasibility of cannabis-related healthcare products.
“We are working with a few parties but it is a chicken-and-egg situation because we need to understand the regulatory framework to make sure we don't run afar.
“We have been working with some companies from Australia and also some other companies around the region to look at the options,” Duopharma group managing director Leonard Ariff Abdul Shatar told reporters after signing a collaboration agreement with US-based foodtech company The Live Green Co on Thursday (July 14).
However, Leonard Ariff noted it's not something that Duopharma is putting all its efforts behind until regulations are clarified.
“But it is one of the many projects that we are working on within Duopharma,” he added.
According to Leonard Ariff, Duopharma does not have any cannabis-related products in its current portfolio. The group, however, is one of the largest suppliers of dangerous drugs to the Malaysian government.
He was responding to a question when asked to comment after Health Minister Khairy Jamaluddin earlier on Thursday said that the ministry will soon announce a framework, enabling certain cannabidiol (CBD) products to be registered by next year, citing a report by The New Straits Times.
Khairy had said that the framework would be released "sometime this year", adding that the ministry would be inviting proposal submissions of CBD products that should be registered.
Speaking at the launch of The Centre's Report on Malaysians' Views Towards Drug-Related Issues, Khairy said CBD products should be for self-medicating purposes, and be prescribed by a healthcare professional.
Khairy in April this year said that the ministry welcomes any industry or academia-initiated research for medicinal use of CBD.
On Nov 17, 2021, he said applications for the use of cannabis for medical purposes could be submitted to the Drug Control Authority for evaluation and registration if there is sufficient scientific evidence for it to be marketed.
As at 12.07pm, Duopharma shares were two sen or 1.74% higher at RM1.17, bringing the company a market capitalisation of RM1.11 billion.