MediPharm Labs Corp. (TSX: LABS) (OTCQX: MEDIF) (FSE:MLZ) (“MediPharm Labs” or the “Company”) a worldwide leader in specialized, investigation-driven pharmaceutical-high-quality cannabis extraction, distillation and derivative goods, now announced it will provide cannabis concentrate goods in Denmark to two new healthcare cannabis prospects beneath two separate white-label agreements. These prospects will be serviced by each GMP authorized facilities, MediPharm Labs Inc. and MediPharm Labs Australia Pty Ltd (“MediPharm Labs Australia”). This marks MediPharm Labs’ initial 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 delivers individuals with secure solution access and national wellness authorities with patient information that they can use to recognize usage and efficacy. According to data complied by New Frontier Information and the Danish Ministry of Well being, more than two,one hundred individuals (mostly ladies amongst the ages of 42-64) received cannabis-primarily based medicinal goods from 429 prescribing medical doctors beneath this system in 2019.
“The express objective of establishing a multi-jurisdictional, GMP-certified production capability is to lead the worldwide cannabis market place for medicinal, wellness and adult use applications and these agreements represent an additional step forward in realizing our ambitions,” mentioned Pat McCutcheon, CEO, MediPharm Labs. “Getting in on the ground floor of the Danish healthcare market place with new and revolutionary healthcare cannabis focused goods positions us for added development in Europe and adds to MediPharm Labs all-significant physique of understanding that we are leveraging to improve the design and style of our formulations for individuals and buyers 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 prospects to start in October 2020, pending regulatory approval by applicable wellness authorities.
GMP Certification Ignites Development for MediPharm Labs Australia
“Since the starting of 2020, MediPharm Labs Australia has secured various quite appealing domestic and international provide agreements with higher high-quality partners, now which includes new prospects in Denmark,” mentioned Warren Everitt, CEO, MediPharm Labs Australia. “This volume and the pace of new organization wins are a clear and significant 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 beneath all of these agreements.”
MediPharm Labs Australia received its Fantastic 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, which includes Denmark. The Firm entered into its initial European white-label cannabis provide agreement that identical month with Therismos Restricted.
About Denmark’s Healthcare Cannabis Industry
Denmark launched its 4-year healthcare cannabis pilot system on January 1st, 20181. Post-harvest Fantastic Manufacturing Processes (GMP) is essential 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 regions: discomfort triggered by various sclerosis, discomfort triggered by spinal cord harm, side effects from chemotherapy therapy 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 in depth evaluation of literature as effectively 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 high-quality cannabis oil and concentrates and sophisticated derivative goods using a Fantastic Manufacturing Practices certified facility with ISO normal constructed clean rooms. MediPharm Labs has invested in an specialist, investigation-driven group, state-of-the-art technologies, downstream purification methodologies and objective-constructed facilities with 5 key extraction lines for delivery of pure, trusted and precision -dosed cannabis goods for its prospects. By means of its wholesale and white label platforms, they formulate, customer-test, procedure, package and distribute cannabis extracts and sophisticated cannabinoid-primarily based goods to domestic and international markets. As a worldwide 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]
1 Medicinal Cannabis Pilot Plan. Retrieved: https://laegemiddelstyrelsen.dk/en/particular/medicinal-cannabis/citizens/medicinal-cannabis-pilot-programme/
two The Healthcare Cannabis Industry in Denmark & Europe. Retrieved: https://www.openaccessgovernment.org/the-healthcare-cannabis-market place-in-denmark-europe/80721/
three The Danish Healthcare Cannabis Pilot Programme: Placing the Patient 1st. Retrieved: https://www.healtheuropa.eu/the-danish-healthcare-cannabis-pilot-programme-placing-the-patient-initial/92991/
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This news release consists of “forward-hunting information” and “forward-hunting statements” (collectively, “forward-hunting statements”) inside the which means of the applicable Canadian securities legislation. All statements, other than statements of historical truth, are forward-hunting statements and are primarily based on expectations, estimates and projections as at the date of this news release. Any statement that entails discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or overall performance (frequently but not generally applying 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 outcomes “may” or “could”, “would”, “might” or “will” be taken to take place or be accomplished) are not statements of historical truth and could be forward-hunting statements. In this news release, forward-hunting statements relate to, amongst other points, the effective overall performance of the agreements and shipping of goods thereunder as planned added development in Europe and enhancing the design and style of formulations. Forward-hunting statements are necessarily primarily based upon a quantity of estimates and assumptions that, whilst deemed affordable, are topic to identified and unknown dangers, uncertainties, and other things which could trigger the actual outcomes and future events to differ materially from these expressed or implied by such forward-hunting 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 site at www.sedar.com. There can be no assurance that such statements will prove to be precise, as actual outcomes and future events could differ materially from these anticipated in such statements. Accordingly, readers need to not spot undue reliance on the forward-hunting statements and data contained in this news release. Except as essential by law, MediPharm Labs assumes no obligation to update the forward-hunting statements of beliefs, opinions, projections, or other things, need to they modify.