MediPharm Labs Corp. (TSX: LABS) (OTCQX: MEDIF) (FSE:MLZ) (“MediPharm Labs” or the “Company”) a worldwide leader in specialized, study-driven pharmaceutical-high-quality cannabis extraction, distillation and derivative solutions, now announced it will provide cannabis concentrate solutions in Denmark to two new healthcare cannabis shoppers below two separate white-label agreements. These shoppers 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 solutions to Denmark.
Denmark granted sufferers legal access to cannabis-primarily based medicinal solutions two years ago as element of a 4-year pilot system. The system offers sufferers with secure item access and national overall health authorities with patient information that they can use to have an understanding of usage and efficacy. According to facts complied by New Frontier Information and the Danish Ministry of Wellness, more than two,one hundred sufferers (mostly ladies in between the ages of 42-64) received cannabis-primarily based medicinal solutions from 429 prescribing physicians below this system in 2019.
“The express objective of establishing a multi-jurisdictional, GMP-certified production capability is to lead the worldwide cannabis marketplace for medicinal, wellness and adult use applications and these agreements represent one more 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 solutions positions us for further development in Europe and adds to MediPharm Labs all-essential physique of know-how that we are leveraging to improve the design and style of our formulations for sufferers and buyers everywhere.”
Beneath 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 solutions that will be white-labeled for distribution.
MediPharm Labs anticipates delivery to its shoppers 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 various pretty desirable domestic and international provide agreements with higher high-quality partners, now like new shoppers in Denmark,” stated Warren Everitt, CEO, MediPharm Labs Australia. “This volume and the pace of new company wins are a clear and essential validation of our selection to make 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 Excellent Manufacturing Practice (“GMP”) certificate from the Therapeutic Goods Association in May perhaps 2020, which enables it to sell cannabis APIs and completed solutions to nations across the EU, like Denmark. The Firm entered into its initial European white-label cannabis provide agreement that very same month with Therismos Restricted.
About Denmark’s Healthcare Cannabis Market place
Denmark launched its 4-year healthcare cannabis pilot system on January 1st, 20181. Post-harvest Excellent Manufacturing Processes (GMP) is needed for distribution of healthcare cannabis solutions in Denmarktwo.
By way of the system, physicians can prescribe healthcare cannabis for all purposes and are guided by suggestions in 4 regions: discomfort triggered by several 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 substantial evaluation 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 high-quality cannabis oil and concentrates and sophisticated derivative solutions using a Excellent Manufacturing Practices certified facility with ISO regular 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 main extraction lines for delivery of pure, trusted and precision -dosed cannabis solutions for its shoppers. By way of its wholesale and white label platforms, they formulate, customer-test, course of action, package and distribute cannabis extracts and sophisticated cannabinoid-primarily based solutions 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 facts, please speak to:
Laura Lepore, VP, Investor Relations
Phone: 705-719-7425 ext 1525
E-mail: [email protected]
1 Medicinal Cannabis Pilot System. Retrieved: https://laegemiddelstyrelsen.dk/en/unique/medicinal-cannabis/citizens/medicinal-cannabis-pilot-programme/
two The Healthcare Cannabis Market place in Denmark & Europe. Retrieved: https://www.openaccessgovernment.org/the-healthcare-cannabis-marketplace-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/
CAUTIONARY NOTE Relating to FORWARD-Seeking Details:
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 requires discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or overall performance (normally but not often employing 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 take place or be accomplished) are not statements of historical truth and may possibly be forward-hunting statements. In this news release, forward-hunting statements relate to, amongst other issues, the profitable overall performance of the agreements and shipping of solutions thereunder as planned further 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, though regarded as affordable, are topic to identified and unknown dangers, uncertainties, and other elements which may possibly lead to the actual benefits and future events to differ materially from these expressed or implied by such forward-hunting statements. Such elements consist of, but are not restricted to: common company, financial, competitive, political and social uncertainties the inability of MediPharm Labs to get sufficient financing the delay or failure to obtain regulatory approvals and other elements discussed in MediPharm Labs’ filings, offered on the SEDAR web-site 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 ought to not location undue reliance on the forward-hunting statements and facts contained in this news release. Except as needed by law, MediPharm Labs assumes no obligation to update the forward-hunting statements of beliefs, opinions, projections, or other elements, ought to they alter.