MediPharm Labs Corp. (TSX: LABS) (OTCQX: MEDIF) (FSE:MLZ) (“MediPharm Labs” or the “Company”) a international leader in specialized, analysis-driven pharmaceutical-excellent cannabis extraction, distillation and derivative goods, nowadays announced it will provide cannabis concentrate goods in Denmark to two new health-related 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 aspect of a 4-year pilot plan. The plan supplies individuals with secure item access and national overall health authorities with patient information that they can use to realize usage and efficacy. According to details complied by New Frontier Information and the Danish Ministry of Wellness, more than two,one hundred individuals (mostly females in between the ages of 42-64) received cannabis-primarily based medicinal goods from 429 prescribing physicians below this plan 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 one more step forward in realizing our ambitions,” mentioned Pat McCutcheon, CEO, MediPharm Labs. “Getting in on the ground floor of the Danish health-related marketplace with new and revolutionary health-related cannabis focused goods positions us for more development in Europe and adds to MediPharm Labs all-critical physique of know-how that we are leveraging to improve the style of our formulations for individuals and shoppers everywhere.”
Beneath the agreements, 1 which has an initial two-year term and the second a 1-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 quite a few incredibly desirable domestic and international provide agreements with higher excellent partners, now which includes new consumers in Denmark,” mentioned Warren Everitt, CEO, MediPharm Labs Australia. “This volume and the pace of new small business wins are a clear and critical validation of our selection to construct a GMP certified cannabis extraction facility provide chain for globe 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 Great Manufacturing Practice (“GMP”) certificate from the Therapeutic Goods Association in Could 2020, which enables it to sell cannabis APIs and completed goods to nations across the EU, which includes Denmark. The Enterprise entered into its 1st European white-label cannabis provide agreement that exact same month with Therismos Restricted.
About Denmark’s Health-related Cannabis Industry
Denmark launched its 4-year health-related cannabis pilot plan on January 1st, 20181. Post-harvest Great Manufacturing Processes (GMP) is necessary for distribution of health-related cannabis goods in Denmarktwo.
Via the plan, physicians can prescribe health-related cannabis for all purposes and are guided by suggestions in 4 places: discomfort brought on by several sclerosis, discomfort brought on by spinal cord harm, side effects from chemotherapy remedy and neuropathic discomfort that is due to brain, spinal cord or nerve harmthree. The suggestions published by the Danish Medicines Agency are primarily based on an in depth assessment of literature as effectively as assessments of: cannabis schemes in the Netherlands, Canada and Israel earlier 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 excellent cannabis oil and concentrates and sophisticated derivative goods using a Great Manufacturing Practices certified facility with ISO normal constructed clean rooms. MediPharm Labs has invested in an professional, analysis-driven group, state-of-the-art technologies, downstream purification methodologies and goal-constructed facilities with 5 key extraction lines for delivery of pure, trusted and precision -dosed cannabis goods for its consumers. Via 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 details, please make contact with:
Laura Lepore, VP, Investor Relations
Phone: 705-719-7425 ext 1525
E mail: [email protected]
Web site: www.medipharmlabs.com
1 Medicinal Cannabis Pilot Plan. Retrieved: https://laegemiddelstyrelsen.dk/en/specific/medicinal-cannabis/citizens/medicinal-cannabis-pilot-programme/
two The Health-related Cannabis Industry in Denmark & Europe. Retrieved: https://www.openaccessgovernment.org/the-health-related-cannabis-marketplace-in-denmark-europe/80721/
three The Danish Health-related Cannabis Pilot Programme: Placing the Patient Initial. Retrieved: https://www.healtheuropa.eu/the-danish-health-related-cannabis-pilot-programme-placing-the-patient-1st/92991/
CAUTIONARY NOTE Relating to FORWARD-Searching Information and 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 (frequently but not generally 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 specific 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 may perhaps be forward-seeking statements. In this news release, forward-seeking statements relate to, amongst other factors, the prosperous overall performance of the agreements and shipping of goods thereunder as planned more development in Europe and enhancing the style of formulations. Forward-seeking statements are necessarily primarily based upon a quantity of estimates and assumptions that, whilst regarded as affordable, are topic to identified and unknown dangers, uncertainties, and other variables which may perhaps lead to the actual benefits and future events to differ materially from these expressed or implied by such forward-seeking statements. Such variables consist of, but are not restricted to: common small business, financial, competitive, political and social uncertainties the inability of MediPharm Labs to receive sufficient financing the delay or failure to acquire regulatory approvals and other variables 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 correct, as actual benefits and future events could differ materially from these anticipated in such statements. Accordingly, readers really should not spot undue reliance on the forward-seeking statements and details 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 variables, really should they alter.