Yarra Crime Investigation Unit detectives seized drugs and subsequently charged a man following a search warrant in Richmond yesterday.
Officers attended the Elizabeth Street address and located what they allege to be methamphetamine and heroin about 3.25pm.
Police then observed a woman allegedly running from the property and quickly intercepted her before discovering a large amount of cash and receipts in her handbag.
Police seized the cash and will interview the 36-year-old Richmond woman at a later date.
The 40-year-old Richmond man was arrested at the scene and has been charged with traffick a commercial quantity of heroin, traffick a commercial quantity of methyl amphetamine and other related charges.
He was remanded to appear at Melbourne County Court on 19 June.