MediPharm Labs Corp. (TSX: LABS) (OTCQX: MEDIF) (FSE:MLZ) (“MediPharm Labs” or the “Company”) a international leader in specialized, study-driven pharmaceutical-good quality cannabis extraction, distillation and derivative goods, nowadays announced it will provide cannabis concentrate goods in Denmark to two new healthcare cannabis consumers below two separate white-label agreements. These consumers will be serviced by each GMP authorized facilities, MediPharm Labs Inc. and MediPharm Labs Australia Pty Ltd (“MediPharm Labs Australia”). This marks MediPharm Labs’ 1st provide agreements for the export of completed goods to Denmark.
Denmark granted individuals legal access to cannabis-primarily based medicinal goods two years ago as element of a 4-year pilot system. The system offers individuals with secure item access and national overall health authorities with patient information that they can use to fully grasp usage and efficacy. According to data complied by New Frontier Information and the Danish Ministry of Overall health, more than two,one hundred individuals (mostly ladies among the ages of 42-64) received cannabis-primarily based medicinal goods from 429 prescribing physicians below this system in 2019.
“The express goal of establishing a multi-jurisdictional, GMP-certified production capability is to lead the international cannabis marketplace for medicinal, wellness and adult use applications and these agreements represent yet another step forward in realizing our ambitions,” stated Pat McCutcheon, CEO, MediPharm Labs. “Getting in on the ground floor of the Danish healthcare marketplace with new and revolutionary healthcare cannabis focused goods positions us for more development in Europe and adds to MediPharm Labs all-vital physique of know-how that we are leveraging to boost the design and style of our formulations for individuals and shoppers everywhere.”
Beneath the agreements, a single which has an initial two-year term and the second a a single-year term – each topic to renewal, MediPharm Labs will provide a complete variety of specially formulated CBD and THC cannabis oil goods that will be white-labeled for distribution.
MediPharm Labs anticipates delivery to its consumers to start in October 2020, pending regulatory approval by applicable overall health authorities.
GMP Certification Ignites Development for MediPharm Labs Australia
“Since the starting of 2020, MediPharm Labs Australia has secured various extremely eye-catching domestic and international provide agreements with higher good quality partners, now like new consumers in Denmark,” stated Warren Everitt, CEO, MediPharm Labs Australia. “This volume and the pace of new organization wins are a clear and vital validation of our selection to construct a GMP certified cannabis extraction facility provide chain for planet markets and a testament to MediPharm Labs increasing profile and reputation. We appear forward to ramping up production below all of these agreements.”
MediPharm Labs Australia received its Excellent Manufacturing Practice (“GMP”) certificate from the Therapeutic Goods Association in May perhaps 2020, which enables it to sell cannabis APIs and completed goods to nations across the EU, like Denmark. The Organization entered into its 1st European white-label cannabis provide agreement that exact same month with Therismos Restricted.
About Denmark’s Health-related Cannabis Marketplace
Denmark launched its 4-year healthcare cannabis pilot system on January 1st, 20181. Post-harvest Excellent Manufacturing Processes (GMP) is necessary for distribution of healthcare cannabis goods in Denmarktwo.
By means of the system, physicians can prescribe healthcare cannabis for all purposes and are guided by suggestions in 4 places: discomfort triggered by various sclerosis, discomfort triggered by spinal cord harm, side effects from chemotherapy remedy and neuropathic discomfort that is due to brain, spinal cord or nerve harmthree. The recommendations published by the Danish Medicines Agency are primarily based on an comprehensive critique of literature as nicely as assessments of: cannabis schemes in the Netherlands, Canada and Israel prior cannabis drug approvals in Europe and the US and scientific proof by the National Academy of Sciences (USA, 2017).
About MediPharm Labs Corp.
Founded in 2015, MediPharm Labs specializes in the production of purified, pharmaceutical good quality cannabis oil and concentrates and sophisticated derivative goods using a Excellent Manufacturing Practices certified facility with ISO typical constructed clean rooms. MediPharm Labs has invested in an professional, study-driven group, state-of-the-art technologies, downstream purification methodologies and goal-constructed facilities with 5 principal extraction lines for delivery of pure, trusted and precision -dosed cannabis goods for its consumers. By means of its wholesale and white label platforms, they formulate, customer-test, method, package and distribute cannabis extracts and sophisticated cannabinoid-primarily based goods to domestic and international markets. As a international leader, MediPharm Labs has completed industrial exports to Australia and is nearing commercialization of its Australian Extraction facility. MediPharm Labs Australia was established in 2017.
For additional data, please get in touch with:
Laura Lepore, VP, Investor Relations
Phone: 705-719-7425 ext 1525
E mail: [email protected]
Web page: www.medipharmlabs.com
1 Medicinal Cannabis Pilot System. Retrieved: https://laegemiddelstyrelsen.dk/en/specific/medicinal-cannabis/citizens/medicinal-cannabis-pilot-programme/
two The Health-related Cannabis Marketplace in Denmark & Europe. Retrieved: https://www.openaccessgovernment.org/the-healthcare-cannabis-marketplace-in-denmark-europe/80721/
three The Danish Health-related Cannabis Pilot Programme: Placing the Patient 1st. Retrieved: https://www.healtheuropa.eu/the-danish-healthcare-cannabis-pilot-programme-placing-the-patient-1st/92991/
CAUTIONARY NOTE With regards to FORWARD-Seeking Facts:
This news release consists of “forward-seeking information” and “forward-seeking statements” (collectively, “forward-seeking statements”) inside the which means of the applicable Canadian securities legislation. All statements, other than statements of historical reality, are forward-seeking statements and are primarily based on expectations, estimates and projections as at the date of this news release. Any statement that requires discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or overall performance (usually but not often utilizing phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that particular actions, events or benefits “may” or “could”, “would”, “might” or “will” be taken to happen or be accomplished) are not statements of historical reality and might be forward-seeking statements. In this news release, forward-seeking statements relate to, amongst other points, the thriving overall performance of the agreements and shipping of goods thereunder as planned more development in Europe and enhancing the design and style of formulations. Forward-seeking statements are necessarily primarily based upon a quantity of estimates and assumptions that, even though regarded as affordable, are topic to recognized and unknown dangers, uncertainties, and other things which might result in the actual benefits and future events to differ materially from these expressed or implied by such forward-seeking statements. Such things involve, but are not restricted to: basic organization, financial, competitive, political and social uncertainties the inability of MediPharm Labs to receive sufficient financing the delay or failure to get regulatory approvals and other things discussed in MediPharm Labs’ filings, readily available on the SEDAR web page at www.sedar.com. There can be no assurance that such statements will prove to be precise, as actual benefits and future events could differ materially from these anticipated in such statements. Accordingly, readers must not spot undue reliance on the forward-seeking statements and data contained in this news release. Except as necessary by law, MediPharm Labs assumes no obligation to update the forward-seeking statements of beliefs, opinions, projections, or other things, must they transform.