MediPharm Labs Corp. (TSX: LABS) (OTCQX: MEDIF) (FSE:MLZ) (“MediPharm Labs” or the “Company”) a international leader in specialized, investigation-driven pharmaceutical-high quality cannabis extraction, distillation and derivative items, right now announced it will provide cannabis concentrate items 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’ 1st provide agreements for the export of completed items to Denmark.
Denmark granted individuals legal access to cannabis-primarily based medicinal items two years ago as portion of a 4-year pilot system. The system offers individuals with protected solution access and national well being authorities with patient information that they can use to have an understanding of usage and efficacy. According to data complied by New Frontier Information and the Danish Ministry of Wellness, more than two,one hundred individuals (mostly girls amongst the ages of 42-64) received cannabis-primarily based medicinal items from 429 prescribing physicians beneath this system in 2019.
“The express goal 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 one more 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 items positions us for more development in Europe and adds to MediPharm Labs all-essential physique of understanding that we are leveraging to improve the design and style of our formulations for individuals and customers 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 items that will be white-labeled for distribution.
MediPharm Labs anticipates delivery to its prospects to commence in October 2020, pending regulatory approval by applicable well being authorities.
GMP Certification Ignites Development for MediPharm Labs Australia
“Since the starting of 2020, MediPharm Labs Australia has secured quite a few really appealing domestic and international provide agreements with higher high quality partners, now such as new prospects in Denmark,” mentioned Warren Everitt, CEO, MediPharm Labs Australia. “This volume and the pace of new enterprise wins are a clear and essential validation of our choice to construct 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 beneath all of these agreements.”
MediPharm Labs Australia received its Excellent Manufacturing Practice (“GMP”) certificate from the Therapeutic Goods Association in Might 2020, which enables it to sell cannabis APIs and completed items to nations across the EU, such as Denmark. The Enterprise entered into its 1st European white-label cannabis provide agreement that exact same 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 Excellent Manufacturing Processes (GMP) is necessary for distribution of healthcare cannabis items in Denmarktwo.
By means of the system, physicians can prescribe healthcare cannabis for all purposes and are guided by suggestions in 4 locations: discomfort triggered by many 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 overview of literature as properly 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 items using a Excellent Manufacturing Practices certified facility with ISO common constructed clean rooms. MediPharm Labs has invested in an specialist, investigation-driven group, state-of-the-art technologies, downstream purification methodologies and goal-constructed facilities with 5 major extraction lines for delivery of pure, trusted and precision -dosed cannabis items for its prospects. By means of its wholesale and white label platforms, they formulate, customer-test, approach, package and distribute cannabis extracts and sophisticated cannabinoid-primarily based items 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 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 System. Retrieved: https://laegemiddelstyrelsen.dk/en/unique/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-1st/92991/
CAUTIONARY NOTE Relating to FORWARD-Seeking Facts:
This news release includes “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 reality, 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 (usually but not usually 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 reality and could be forward-hunting statements. In this news release, forward-hunting statements relate to, amongst other items, the effective overall performance of the agreements and shipping of items thereunder as planned more 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 viewed as affordable, are topic to recognized and unknown dangers, uncertainties, and other aspects which could bring about the actual outcomes and future events to differ materially from these expressed or implied by such forward-hunting statements. Such aspects contain, but are not restricted to: common enterprise, 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 aspects discussed in MediPharm Labs’ filings, accessible on the SEDAR web page 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 really should not spot undue reliance on the forward-hunting statements and data contained in this news release. Except as necessary by law, MediPharm Labs assumes no obligation to update the forward-hunting statements of beliefs, opinions, projections, or other aspects, really should they modify.