Chemist Warehouse backs medicinal cannabis venture

Australia's biggest pharmacy chain has joined a medicinal cannabis joint venture that plans to deliver its first products across its network in the coming months.

Wellnex Life announced on Tuesday that Chemist Warehouse will take a 10 per cent interest in the venture, which already includes OneLife Botanicals.

The joint venture plans to launch the first of five medicinal cannabis products by the end of the financial year on June 30, under a jointly-owned brand with Chemist Warehouse.

"We are excited to be entering a rapidly transforming industry which is seeing surging consumer demand with growing recognition of the legitimacy of cannabis-based medicine by patients and prescribers," Wellnex Life CEO George Karafotias said.

Source: AAP