MediPharm Labs Corp. (TSX: LABS) (OTCQX: MEDIF) (FSE:MLZ) (“MediPharm Labs” or the “Company”) a worldwide leader in specialized, analysis-driven pharmaceutical-excellent cannabis extraction, distillation and derivative goods, now announced it will provide cannabis concentrate goods in Denmark to two new health-related cannabis clients beneath two separate white-label agreements. These clients 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 sufferers legal access to cannabis-primarily based medicinal goods two years ago as component of a 4-year pilot plan. The plan offers sufferers with protected item access and national wellness authorities with patient information that they can use to realize usage and efficacy. According to facts complied by New Frontier Information and the Danish Ministry of Wellness, more than two,one hundred sufferers (mostly females among the ages of 42-64) received cannabis-primarily based medicinal goods from 429 prescribing medical doctors beneath this plan 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 yet another step forward in realizing our ambitions,” mentioned 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 extra development in Europe and adds to MediPharm Labs all-crucial physique of information that we are leveraging to improve the style of our formulations for sufferers and buyers everywhere.”
Beneath the agreements, a single which has an initial two-year term and the second a a single-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 clients to commence 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 a number of quite desirable domestic and international provide agreements with higher excellent partners, now like new clients in Denmark,” mentioned Warren Everitt, CEO, MediPharm Labs Australia. “This volume and the pace of new enterprise wins are a clear and crucial validation of our selection to develop a GMP certified cannabis extraction facility provide chain for planet 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 Excellent 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, like Denmark. The Corporation entered into its 1st European white-label cannabis provide agreement that exact same month with Therismos Restricted.
About Denmark’s Healthcare Cannabis Market place
Denmark launched its 4-year health-related cannabis pilot plan on January 1st, 20181. Post-harvest Excellent Manufacturing Processes (GMP) is essential for distribution of health-related cannabis goods in Denmarktwo.
By means of the plan, physicians can prescribe health-related cannabis for all purposes and are guided by suggestions in 4 regions: 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 substantial assessment of literature as effectively as assessments of: cannabis schemes in the Netherlands, Canada and Israel preceding 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 Excellent Manufacturing Practices certified facility with ISO common constructed clean rooms. MediPharm Labs has invested in an specialist, analysis-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 goods for its clients. By means of 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 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 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 Plan. Retrieved: https://laegemiddelstyrelsen.dk/en/particular/medicinal-cannabis/citizens/medicinal-cannabis-pilot-programme/
two The Healthcare Cannabis Market place in Denmark & Europe. Retrieved: https://www.openaccessgovernment.org/the-health-related-cannabis-market place-in-denmark-europe/80721/
three The Danish Healthcare Cannabis Pilot Programme: Placing the Patient Initially. Retrieved: https://www.healtheuropa.eu/the-danish-health-related-cannabis-pilot-programme-placing-the-patient-1st/92991/
CAUTIONARY NOTE With regards to FORWARD-Hunting Details:
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 includes discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or efficiency (usually 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 particular actions, events or final results “may” or “could”, “would”, “might” or “will” be taken to take place or be accomplished) are not statements of historical reality and may well be forward-seeking statements. In this news release, forward-seeking statements relate to, amongst other points, the profitable efficiency of the agreements and shipping of goods thereunder as planned extra 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 thought of affordable, are topic to recognized and unknown dangers, uncertainties, and other things which may well lead to the actual final results and future events to differ materially from these expressed or implied by such forward-seeking statements. Such things incorporate, but are not restricted to: common enterprise, financial, competitive, political and social uncertainties the inability of MediPharm Labs to get sufficient financing the delay or failure to acquire regulatory approvals and other things discussed in MediPharm Labs’ filings, out there on the SEDAR web site at www.sedar.com. There can be no assurance that such statements will prove to be correct, as actual final results and future events could differ materially from these anticipated in such statements. Accordingly, readers should really not spot undue reliance on the forward-seeking statements and facts contained in this news release. Except as essential by law, MediPharm Labs assumes no obligation to update the forward-seeking statements of beliefs, opinions, projections, or other things, should really they modify.