TORONTO, Sept. 01, 2020 (GLOBE NEWSWIRE) -- MediPharm Labs Corp. (TSX:LABS) (OTCQX:MEDIF) (FSE:MLZ) (“MediPharm Labs” or the “Company”) a global leader in specialized, research-driven pharmaceutical-quality cannabis extraction, distillation and derivative products, today announced it will supply cannabis concentrate products in Denmark to two new medical cannabis customers under two separate white-label agreements. These customers will be serviced by both GMP approved facilities, MediPharm Labs Inc. and MediPharm Labs Australia Pty Ltd (“MediPharm Labs Australia”). This marks MediPharm Labs’ first supply agreements for the export of finished products to Denmark.
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 New Frontier Data and the Danish Ministry of Health, over 2,100 patients (primarily women between the ages of 42-64) received cannabis-based medicinal products from 429 prescribing doctors under this program in 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-labeled for distribution.
MediPharm Labs anticipates delivery to its customers to begin in October 2020, pending regulatory approval by applicable health authorities.