Australia's Little Green Pharma falls after getting infringement notices

Little Green Pharma

28/09/2022 01:42

** Shares of medical cannabis co Little Green Pharma Ltd
 LGP.AX  fall as much as 3.9% to A$0.250, mark their biggest
intraday pct loss since Sept. 20
    ** Co receives 28 infringement notices from the Therapeutic
Goods Administration (TGA), each for a value of A$13,320 
($8,578.08)  urn:newsml:reuters.com:*:nASX8C6kHh
    ** Says notices concerning alleged unlawful advertising of
co's medicinal cannabis products on its website and certain
social media channels
    ** Says TGA requires that unregistered medicines be
advertised exclusively to health professionals as long as those
advertisements are not accessible to public
    ** Adds LGP undertaking review of all of its communication
materials and practices
    ** As of last close, stock down 56.3% this year
($1 = 1.5528 Australian dollars)
 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))