Rua Bioscience positioned for growth, establishing collaborative networks and seizing opportunity in the booming Australian cannabis market.
Rua Bioscience, a New Zealand-based leader in the medicinal cannabis sector, today announced its official entry into the dynamic Australian medicinal cannabis market. Teaming up with Anspec, a leading pharmaceutical distribution company, Rua Bioscience product is now available to Australian patients through prescribers.
In 2022, the Australian cannabis market was valued at A$240 million per year(1).
“This launch marks a momentous step forward in Rua Bioscience's commitment to the thriving Australian market,” said Chief Executive Officer Paul Naske. “The further substantial growth of the market since 2022 underscores the tremendous potential it holds, with strong demand for differentiated products.”
Rua Bioscience’s dedicated Medical Science Liaison has been actively engaging with prescribers, to facilitate informed and responsible usage of the product.
"Our interactions with Australian doctors and clinics are a testament to our commitment to collaboration and reducing some of the barriers to prescribing," said Jessika Buscke, Medical Science Liaison.
"By connecting with prescribers, we can ensure that our product is integrated responsibly into patient care plans, thereby contributing to optimal health outcomes."
This partnership-driven approach not only ensures responsible product usage. It also positions Rua Bioscience for sustained growth and expansion.
“We recognise the strategic value of these collaborations in establishing a robust pipeline for bringing our unique cannabis varieties from Ruatorea on the East Coast of New Zealand to the Australian market,” said Mr Naske. "We’re essentially connecting the East Coast of New Zealand with the East Coast of Australia.
“This is a pivotal moment in our journey, and Rua Bioscience is well-positioned to navigate the evolving landscape of the Australian medicinal cannabis market. The entry into the Australian market, and the launch of our products, marks the establishment of another network that will ultimately make positive, long-term impacts back home in NZ in our communities of Ruatorea and Tairāwhiti.”
For more information about Rua Bioscience please visit www.ruabioscience.com.
The person who authorised this announcement:
Chief Executive Officer
For shareholder enquiries please visit www.ruabio.com or contact:
(1) - Pennington Institute Australia, May 2023 https://www.youtube.com/watch?v=3FtzL4QerCM