Launch of Products in the UK
Rua Bioscience is proud to announce the launch of three medicinal cannabis products in the United Kingdom. This marks a significant milestone in Rua's international growth strategy, with the UK positioned as a key market alongside Germany, Australia, and New Zealand. These new products will be distributed exclusively by Target Healthcare, a leading distributor of unlicenced medicines in the UK.
Unlocking the Potential of a Growing Market
The UK medicinal cannabis market is estimated to be one of the fastest growing in Europe, driven by an increasing number of patients seeking alternative medicines for the treatment of chronic pain, anxiety, and other conditions. The market is approximately $60m and growing at over 100% per annum in the last two years. With a population of 68 million, Rua expects this market to grow significantly in the next two years. Rua's entry into this market is the next stage in the establishment of a consistent supply line and respected presence.
"Expanding into the UK is an exciting step for Rua," said Paul Naske, CEO. "This launch is a direct execution of our strategy. We are focused on establishing strong supply lines into high value markets which in turn provide a route to market for our unique NZ cannabis varieties. Partnering with Target Healthcare ensures we can reach UK patients efficiently and effectively in this key market."
A Strong Partnership
Target Healthcare's extensive experience in the UK market and its expert knowledge of unlicensed medicines make them an ideal partner for Rua Bioscience. Together, the two companies aim to bring additional products to the market in the coming years that prioritise patient needs.
Looking Ahead
With this launch, Rua Bioscience continues to establish itself as a leader in the medicinal cannabis industry with diversified revenue streams in four key markets. With UK distribution now established alongside channels in Germany, Australia and New Zealand Rua will focus on revenue growth and product line expansion.