HALEON, the world's largest consumer healthcare company, is looking to branch into cannabinoid (CBD) based medicines.

The London-listed firm, which used to be part of the Glaxosmithkline group, has inked an agreement with CBD capsules producer Satipharm, a subsidiary of the Cann Group. Under the deal, Haleon will be entitled to the potential marketing, sales and distribution of Satipharm's advanced CBD capsules off the back of the company's phase three clinical trial, which is examining the efficacy of its capsules.

"You can see why they're interested," Satipharm chief executive Jonathan Hartshorn told City A.M. yesterday.

The trial is expected to be completed by the end of this year.

Haleon, which owns Sensodyne, does not currently have any CBD products in its portfolio.

Satipharm is currently seeking an over-the-counter licence from the Australian government after the country changed its regulations at the beginning of last year.

Cann CEO Peter Crock added that the CBD capsule, which has a far higher absorption rate in comparison to oils, has "attracted interest from a number of potential distribution partners" as attitudes change towards medicinal CBD.

(c) 2022 City A.M., source Newspaper