BOD Australia Ltd - Prescription sales off to a strong start in CY2020
BOD Australia Ltd (ASX:BDA)

Prescription sales off to a strong start in CY2020

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Highlights

What's happened?

Bod Australia Limited (“Bod”, ASX: BDA) reported a strong start to MediCabilis™ prescription sales in 2020 with 373 prescriptions filled in January, the third largest month on record.

What are the details?

Bod has now filled a total of 2,330 prescriptions since the sale of MediCabilis™ commenced in January 2019 when the first prescription was filled. Material growth in prescription numbers during 2020 is expected given the Company’s pending entry into the UK market this month, and the introduction of the 2.5% and 10% MediCabilis™ products as previously announced in Q3.

CEO's Summary

Jo Patterson

"“Growth in prescription numbers for January is very encouraging and we are pleased to witness this steady increase in sales. Over the course of CY2020 we anticipate prescription volumes will grow significantly given two key events. Firstly, our planned UK market entry, which is happening this month, and the commencement of sales of the two new products we are introducing. As recently flagged, the 2.5% and 10% CBD isolate products grows our addressable market by 32% which is material. Added to which, there is much less competition in this segment of the market so we have a great opportunity and a larger sales footprint. Bod is therefore well primed to drive prescription number growth.”

Jo Patterson
CEO, BOD Australia Ltd
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