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, currently 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’ very first 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 portion of a 4-year pilot system. The system supplies individuals with protected solution access and national overall health authorities with patient information that they can use to comprehend usage and efficacy. According to data complied by New Frontier Information and the Danish Ministry of Wellness, more than two,one hundred individuals (mostly ladies in between the ages of 42-64) received cannabis-primarily based medicinal goods from 429 prescribing medical doctors below this system in 2019.
“The express objective of establishing a multi-jurisdictional, GMP-certified production capability is to lead the international cannabis market place 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 health-related market place with new and revolutionary health-related cannabis focused goods positions us for further development in Europe and adds to MediPharm Labs all-crucial physique of information that we are leveraging to boost the design and style of our formulations for individuals and shoppers everywhere.”
Below the agreements, one particular which has an initial two-year term and the second a one particular-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 commence 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 quite appealing 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 crucial validation of our choice to develop a GMP certified cannabis extraction facility provide chain for globe markets and a testament to MediPharm Labs expanding profile and reputation. We appear forward to ramping up production below all of these agreements.”
MediPharm Labs Australia received its Very good Manufacturing Practice (“GMP”) certificate from the Therapeutic Goods Association in Might 2020, which enables it to sell cannabis APIs and completed goods to nations across the EU, like Denmark. The Firm entered into its very first European white-label cannabis provide agreement that very same month with Therismos Restricted.
About Denmark’s Health-related Cannabis Market place
Denmark launched its 4-year health-related cannabis pilot system on January 1st, 20181. Post-harvest Very good Manufacturing Processes (GMP) is necessary for distribution of health-related cannabis goods in Denmarktwo.
By way of the system, physicians can prescribe health-related cannabis for all purposes and are guided by suggestions in 4 regions: discomfort triggered by numerous 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 substantial overview of literature as nicely 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 good quality cannabis oil and concentrates and sophisticated derivative goods using a Very good Manufacturing Practices certified facility with ISO common constructed clean rooms. MediPharm Labs has invested in an specialist, study-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 consumers. By way of its wholesale and white label platforms, they formulate, customer-test, approach, 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 site: 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 Market place in Denmark & Europe. Retrieved: https://www.openaccessgovernment.org/the-health-related-cannabis-market place-in-denmark-europe/80721/
three The Danish Health-related Cannabis Pilot Programme: Placing the Patient 1st. Retrieved: https://www.healtheuropa.eu/the-danish-health-related-cannabis-pilot-programme-placing-the-patient-very first/92991/
CAUTIONARY NOTE With regards to FORWARD-Searching Data:
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 truth, are forward-seeking 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 (typically but not often making use of 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 outcomes “may” or “could”, “would”, “might” or “will” be taken to take place or be accomplished) are not statements of historical truth and might be forward-seeking statements. In this news release, forward-seeking statements relate to, amongst other factors, the effective overall performance of the agreements and shipping of goods thereunder as planned further 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, when viewed as affordable, are topic to recognized and unknown dangers, uncertainties, and other aspects which might trigger the actual outcomes and future events to differ materially from these expressed or implied by such forward-seeking statements. Such aspects involve, but are not restricted to: common organization, financial, competitive, political and social uncertainties the inability of MediPharm Labs to acquire sufficient financing the delay or failure to acquire regulatory approvals and other aspects discussed in MediPharm Labs’ filings, offered on the SEDAR internet site at www.sedar.com. There can be no assurance that such statements will prove to be correct, as actual outcomes and future events could differ materially from these anticipated in such statements. Accordingly, readers really should not location 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 aspects, really should they alter.