Cardiol Therapeutics Inc (TSE:CRDL) (OTCQX:CRTPF) said Tuesday that its THC-free oral CBD formulation Cortalex is now available online through Shoppers Drug Mart’s Medical Cannabis by Shoppers portal.
In a statement, the biotechnology company said there was “growing demand” from paediatricians and family physicians for a THC-free CBD formulation, but most CBD formulations currently available in Canada contain potentially psychoactive levels of THC and cannot be used by certain patient populations.
Cortalex is the first pharmaceutically-produced CBD oil that is specifically formulated for patients who would benefit from the therapeutic effects of cannabidiol but should not take THC, such as children and young adults or seniors with chronic diseases.
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The product is manufactured by Dalton Pharmaceutical Services, a specialty pharmaceutical company with over 30 years of experience in manufacturing medicines at its Health Canada-approved, FDA-registered and cGMP-certified facility.
Shoppers Drug Mart is the country’s largest pharmacy chain.
"Shoppers Drug Mart is a trusted brand, and together with our long-standing partner, Dalton Pharma, we are pleased that Medical Cannabis by Shoppers has agreed to offer Cortalex on an exclusive basis nationwide," said David Elsley, Cardiol’s CEO in a statement.
"Our Cortalex innovation is now available to address the significant unmet needs of patients who should not take THC, while meeting the highest industry standards for product quality and consistency."
People over the age of 65 now represent the fastest growing segment of the $500 million medicinal cannabinoid market in Canada, according to October 2019 data from Statistics Canada.
Oakville-based Cardiol Therapeutics is a clinical-stage biotechnology company focused on developing innovative therapies for inflammatory heart disease.
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