MediPharm Labs Corp. (TSX: LABS) (OTCQX: MEDIF) (FSE:MLZ) has signed agreements to supply cannabis concentrate products in Denmark, under two separate white-label agreements, in the company’s first supply agreement for the export of finished products to the country.
Denmark granted patients legal access to cannabis-based medicinal products two years ago as part of a four-year pilot program. The program provides patients with safe product access and national health authorities with patient data that they can use to understand usage and efficacy. According to information complied by the Danish Ministry of Health, over 2,100 patients received cannabis-based medicinal products under this program during 2019.
“The express purpose of establishing a multi-jurisdictional, GMP-certified production capability is to lead the global cannabis market for medicinal, wellness and adult use applications and these agreements represent another step forward in realizing our ambitions,” said Pat McCutcheon, CEO, MediPharm Labs. “Getting in on the ground floor of the Danish medical market with new and innovative medical cannabis focused products positions us for additional growth in Europe and adds to MediPharm Labs all-important body of knowledge that we are leveraging to enhance the design of our formulations for patients and consumers everywhere.”
Under the agreements, one which has an initial two-year term and the second a one-year term – both subject to renewal, MediPharm Labs will supply a full range of specially formulated CBD and THC cannabis oil products that will be white-labelled for distribution.
Denmark launched its four-year medical cannabis pilot program at the start of 2018. Through the program, physicians can prescribe medical cannabis for all purposes and are guided by recommendations in four areas: pain caused by multiple sclerosis, pain caused by spinal cord damage, side effects from chemotherapy treatment and neuropathic pain that is due to brain, spinal cord or nerve damage. The guidelines published by the Danish Medicines Agency are based on an extensive review of literature as well as assessments of: cannabis schemes in the Netherlands, Canada and Israel; and previous cannabis drug approvals in Europe and the US.
MediPharm Labs anticipates delivery to its customers to begin in October 2020, pending regulatory approval by applicable health authorities.
MediPharm Labs Australia received its Good Manufacturing Practice (“GMP”) certificate from the Therapeutic Goods Association in May 2020, which enables it to sell cannabis APIs and finished products to countries across the EU, including Denmark. The Company entered into its first European white-label cannabis supply agreement that same month with Therismos Limited.
“Since the beginning of 2020, MediPharm Labs Australia has secured several very attractive domestic and international supply agreements with high quality partners, now including new customers in Denmark,” said Warren Everitt, CEO, MediPharm Labs Australia. “This volume and the pace of new business wins are a clear and important validation of our decision to build a GMP certified cannabis extraction facility supply chain for world markets and a testament to MediPharm Labs growing profile and reputation. We look forward to ramping up production under all of these agreements.”
Source | MediPharm Labs