MediPharm Labs Corp. (TSX: LABS) (OTCQX: MEDIF) (FSE:MLZ) (“MediPharm Labs” or the “Company”) a international leader in specialized, analysis-driven pharmaceutical-good quality cannabis extraction, distillation and derivative solutions, now announced it will provide cannabis concentrate solutions in Denmark to two new healthcare cannabis buyers beneath two separate white-label agreements. These buyers 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 solutions to Denmark.
Denmark granted individuals legal access to cannabis-primarily based medicinal solutions two years ago as portion of a 4-year pilot system. The system supplies individuals with protected solution access and national well being authorities with patient information that they can use to fully grasp usage and efficacy. According to details complied by New Frontier Information and the Danish Ministry of Overall health, more than two,one hundred individuals (mostly ladies among the ages of 42-64) received cannabis-primarily based medicinal solutions from 429 prescribing physicians beneath 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 healthcare market place 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 style of our formulations for individuals and shoppers 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 buyers 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 various extremely eye-catching domestic and international provide agreements with higher good quality partners, now which includes new buyers in Denmark,” stated Warren Everitt, CEO, MediPharm Labs Australia. “This volume and the pace of new enterprise wins are a clear and essential validation of our selection 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 beneath all of these agreements.”
MediPharm Labs Australia received its Excellent Manufacturing Practice (“GMP”) certificate from the Therapeutic Goods Association in Could 2020, which enables it to sell cannabis APIs and completed solutions to nations across the EU, which includes Denmark. The Corporation entered into its very first European white-label cannabis provide agreement that similar month with Therismos Restricted.
About Denmark’s Health-related Cannabis Market place
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 solutions in Denmarktwo.
Via the system, physicians can prescribe healthcare 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 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 good 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 professional, analysis-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 solutions for its buyers. Via its wholesale and white label platforms, they formulate, customer-test, method, package and distribute cannabis extracts and sophisticated cannabinoid-primarily based solutions 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 details, please speak to:
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 Health-related Cannabis Market place in Denmark & Europe. Retrieved: https://www.openaccessgovernment.org/the-healthcare-cannabis-market place-in-denmark-europe/80721/
three The Danish Health-related Cannabis Pilot Programme: Placing the Patient Initial. Retrieved: https://www.healtheuropa.eu/the-danish-healthcare-cannabis-pilot-programme-placing-the-patient-very first/92991/
CAUTIONARY NOTE Relating to FORWARD-Searching Facts:
This news release includes “forward-searching information” and “forward-searching statements” (collectively, “forward-searching statements”) inside the which means of the applicable Canadian securities legislation. All statements, other than statements of historical truth, are forward-searching 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 functionality (frequently but not normally 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-searching statements. In this news release, forward-searching statements relate to, amongst other items, the effective functionality of the agreements and shipping of solutions thereunder as planned further development in Europe and enhancing the style of formulations. Forward-searching 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 components which might lead to the actual outcomes and future events to differ materially from these expressed or implied by such forward-searching statements. Such components include things like, 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 obtain regulatory approvals and other components discussed in MediPharm Labs’ filings, offered on the SEDAR web page 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 ought to not spot undue reliance on the forward-searching statements and details contained in this news release. Except as necessary by law, MediPharm Labs assumes no obligation to update the forward-searching statements of beliefs, opinions, projections, or other components, ought to they alter.