MediPharm Labs Corp. (TSX: LABS) (OTCQX: MEDIF) (FSE:MLZ) (“MediPharm Labs” or the “Company”) a worldwide leader in specialized, investigation-driven pharmaceutical-excellent cannabis extraction, distillation and derivative solutions, right now announced it will provide cannabis concentrate solutions in Denmark to two new health-related cannabis prospects below 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 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 protected item access and national well being authorities with patient information that they can use to recognize usage and efficacy. According to facts complied by New Frontier Information and the Danish Ministry of Well being, more than two,one hundred sufferers (mainly girls among the ages of 42-64) received cannabis-primarily based medicinal solutions from 429 prescribing medical doctors below this system in 2019.
“The express goal of establishing a multi-jurisdictional, GMP-certified production capability is to lead the worldwide cannabis industry 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 industry with new and revolutionary health-related cannabis focused solutions positions us for further development in Europe and adds to MediPharm Labs all-crucial physique of expertise that we are leveraging to improve the style of our formulations for sufferers and buyers everywhere.”
Below 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 solutions 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 numerous pretty desirable domestic and international provide agreements with higher excellent partners, now such as new prospects in Denmark,” stated Warren Everitt, CEO, MediPharm Labs Australia. “This volume and the pace of new small business 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 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 May well 2020, which enables it to sell cannabis APIs and completed solutions 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 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 solutions in Denmarktwo.
By way of the system, physicians can prescribe health-related cannabis for all purposes and are guided by suggestions in 4 locations: 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 comprehensive critique 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 excellent cannabis oil and concentrates and sophisticated derivative solutions using a Very good 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 main extraction lines for delivery of pure, trusted and precision -dosed cannabis solutions for its prospects. By way of its wholesale and white label platforms, they formulate, customer-test, procedure, 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/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-industry-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 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 reality, are forward-searching 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 functionality (frequently but not normally 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 particular actions, events or benefits “may” or “could”, “would”, “might” or “will” be taken to happen or be accomplished) are not statements of historical reality and may well be forward-searching statements. In this news release, forward-searching statements relate to, amongst other factors, the prosperous 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, although deemed affordable, are topic to identified and unknown dangers, uncertainties, and other aspects which may well trigger the actual benefits and future events to differ materially from these expressed or implied by such forward-searching statements. Such aspects include things like, but are not restricted to: common small business, 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, 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 must not spot undue reliance on the forward-searching statements and facts 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 aspects, must they transform.