MediPharm Labs brings a pharmaceutical perspective to the cannabis industry, working to internationally recognized pharma-quality standards which result in products that are pure, trusted and precisely dosable for patients and end consumers.
Through its wholesale and white label platforms, MediPharm Labs formulates, develops (including through sensory testing), processes, packages and distributes cannabis extracts and advanced cannabinoid-based products to domestic and international markets.
MediPharm Labs’ state-of-the-art cannabis extraction facility is
Good Manufacturing Practices (GMP) Certified and designed with ISO
standard cleanrooms and critical environments.
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The MediPharm Labs Brand
MediPharm Labs branded products deliver high quality, innovative cannabis concentrate-based products to consumers and patients across Canada.
MediPharm Labs CBD25 Regular Formula:
MediPharm Labs CBD25 is a pharma-quality CBD dominant Regular Strength oil containing 25 mg/mL of CBD using full spectrum cannabis concentrate processed at MediPharm Labs’ GMP certified facility under strict manufacturing standards producing a product with exceptional quality and purity.
MediPharm Labs CBD50 Plus Formula Oil CBD:
MediPharm Labs CBD50 is a pharma-quality high-CBD Plus Formula oil containing our highest amount of CBD (50 mg/mL) using full spectrum cannabis concentrate produced at MediPharm Labs using strict manufacturing standards to bring you the highest quality and purity.
MediPharm Labs CBD25:5 Release Formula:
MediPharm Labs CBD25:5 is a pharma-quality CBD dominant Release Formula oil containing 25 mg/mL of CBD using full spectrum cannabis concentrate produced at MediPharm Labs using strict manufacturing standards to bring you the highest quality and purity. MediPharm Labs has formulated a diverse ‘Release Formula’ which is dominated by CBD but also offers a ratio of THC since they are both known to work through different pharmacological mechanisms in the human body1.
Ace Valley is the brand behind top-rated pre-rolls and other premium and approachable cannabis products. Ace Valley vapes are available in CBD, Sativa and Indica and produced by MediPharm Labs using high-quality distillate. Available in Sativa, Indica and CBD. Ace Valley vapes are produced by MediPharm Labs using high-quality distillate free of any diluent oil in a GMP certified facility.
MediPharm Labs’ purified, trusted cannabinoid-based products include the Wayfarer line of vapes and cartridges of well-known brand names like Northern Lights, Blue Dream, 2:1 CBD:THC, Pink Kush and GG4.
- Northern Lights High THC with terpinolene, limonene, and beta-caryophyllene terpenes.
- Blue Dream High THC with alpha-pinene, myrcene, and beta-caryophyllene terpenes.
- 2:1 CBD: THC High CBD with dominant myrcene, beta-caryophyllene, and limonene terpenes.
- Pink Kush High THC with dominant d-limonene, β-caryophyllene and linalool terpenes.
- GG4 High THC with dominant beta-caryophyllene and limonene terpenes.
Oct. 05, 2020 - European Pharmaceutical Company STADA Enters Exclusive Medical Cannabis Partnership with MediPharm Labs
As one of the leading European Consumer Healthcare and Generics companies, STADA, with a product presence in 120 countries, has signed an exclusive supply agreement with MediPharm Labs Inc. (“MediPharm”), a wholly owned subsidiary of MediPharm Labs Corp. (TSX: LABS) (OTCQX: MEDIF) (FSE:MLZ) (“MediPharm Labs” or the “Company”) a global leader in specialized, research-driven pharmaceutical-quality development and manufacture of cannabis API and derivative products to provide medical cannabis products for the European pharma sector.
“Working with MediPharm will meet the needs of pharmacists and patients and deliver on STADA’s purpose of caring for people’s health as a trusted partner,” commented STADA CEO Peter Goldschmidt. “This partnership with MediPharm demonstrates STADA’s ambition to be the go-to-partner for Generics, Consumer Health and Specialty Products.”
Under the terms of the exclusive partnership, MediPharm will supply GMP certified medical cannabis products to STADA, as well as manufacturing, logistics, and regulatory support. STADA will be responsible for commercializing the cannabis products, initially in Germany as well as marketing and medical education utilizing a pharmaceutically experienced field force.
“This partnership is exactly the type of business MediPharm has been pursuing since its inception and a validation of our strategy to deliver GMP-certified cannabis products that can be used in multiple new products in multiple markets around the world,” said Pat McCutcheon, CEO, MediPharm Labs. “This mandate has meaningful revenue potential for MediPharm Labs and we couldn’t be more excited to partner with a company that has the reputation and resources that STADA commands. As a powerhouse in sales and distribution of pharmaceuticals and non-prescription consumer health products, STADA has the ability to become a transformative force in European medical cannabis markets and we are thrilled to be their exclusive partner.”
The partners will initially focus on Germany, before potentially expanding to other European countries and territories. The partnership also signals MediPharm’s entry into the global pharmaceutical industry within a major European market.
With over 83 million inhabitants benefitting from broad access to healthcare services, Germany currently represents an estimated three-quarters of the current EU medical cannabis market.
The Medical Cannabis Network reports the medical cannabis market in Germany is currently valued at between €150m and €175m, despite only around 10% of the 20,000 pharmacies in Germany selling medical cannabis products today. Furthermore, only a limited number of doctors in Germany currently prescribe medical cannabis. With greater awareness and education around the benefits of medical cannabis, the Medical Cannabis Network estimates that Germany’s dominance in the European cannabis market could expand to €1.5bn by 2025.(1)
This is a further milestone for the global cannabis industry as STADA, in partnership with MediPharm, forges the way as a large pharmaceutical company to commercialize medical cannabis products.
Details of the products that STADA will bring to market through this partnership with MediPharm Labs will be unveiled in the coming months in the respective relevant communication channels.
Sept. 28, 2020 - MediPharm Labs Secures 100% Ownership of its Australia Subsidiary, Poised for New Wave of Global Medicinal Cannabis Growth
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 has entered into a share sale and purchase agreement (the “Buyout Agreement”) with its local Australian partner to acquire its 20% ownership interest in the Company’s 80%-owned subsidiary MediPharm Labs Australia. Upon closing of the Transaction, MediPharm Labs Australia will be a wholly-owned subsidiary of the Company.
“Since our founding, MediPharm Labs Australia has been a cornerstone of our strategy to develop a multi-jurisdictional, GMP-certified production capability chain to service worldwide medicinal, wellness and adult-use markets,” said Pat McCutcheon, CEO, MediPharm Labs. “Now a wholly-owned subsidiary, MediPharm Labs Australia will continue to represent a strategic segment of our global supply chain and a highly sought after, valuable and irreplaceable asset that differentiate us in the marketplace. With our Australia GMP certified manufacturing assets and licences from the Therapeutic Goods Administration, we are perfectly positioned for the next wave of growth in global cannabis markets as MediPharm Labs Australia continues to serve as a door-opener to sophisticated new pharma accounts and new medically focused cannabis companies in emerging international jurisdictions.”
Under the Buyout Agreement, MediPharm Labs will pay consideration of approximately $3.2 million comprising a mix of 37.5% cash to be paid in three instalments over an 18 month period and 62.5% MediPharm Labs common shares priced based on the 5-day VWAP on the TSX (the “Transaction”). The common share portion of the consideration will be subject to a twelve-month lock-up.
Poised for New Wave of Global Medicinal Cannabis Growth
The Company’s Australian facility was certified by the Therapeutic Goods Administration (“TGA”) as meeting the GMP standard and secured a Licence to Manufacture Therapeutic Goods in May 2020. As the Company’s Canadian facility was TGA GMP certified in late 2019, MediPharm Labs has created a global pharmaceutical-quality supply chain that is qualified to serve new emerging medical markets internationally. Since the end of 2019, MediPharm Labs Australia has signed a number of significant domestic and international customer supply agreements and achieved revenue of $625,000 in its first month of operations from the shipment of formulated CBD and THC oils to its customers. These shipments were the product of synergies between MediPharm Labs’ Canadian and Australian supply chain made possible by a large shipment of finished products and bulk oil from the Company’s GMP-certified facility in Barrie, Ontario to Australia. The Company intends to continue taking advantage of its internal supply pipeline on a strategic basis as it targets new supply agreements to expand its international market share.
For Full Release: https://www.globenewswire.com/news-release/2020/09/28/2099771/0/en/MediPharm-Labs-Secures-100-Ownership-of-its-Australia-Subsidiary-Poised-for-New-Wave-of-Global-Medicinal-Cannabis-Growth.html
Sept. 25, 2020 -MediPharm Labs Expands Denmark Revenue Opportunity, Enters New Supply Agreement with DanCann Pharma
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 has entered into a new white-label supply agreement with DanCann Pharma A/S (“DanCann Pharma”). The company will be serviced by both GMP approved facilities, MediPharm Labs Inc. and MediPharm Labs Australia Pty Ltd (“MediPharm Labs Australia”). This marks MediPharm Labs’ third supply agreement for the export of finished products to Denmark expanding its revenue opportunity in an emerging medicinal cannabis market.
DanCann Pharma is a medical cannabis company focused on discovering, developing, manufacturing and commercializing new therapeutic cannabinoids in a wide range of disease areas. DanCann Pharma manufactures and imports prescription (Rx-pharmaceuticals) and over-the-counter (OTC) pharmaceuticals focused on pain patients with alternative needs and management to handle their illness, covered by the Danish Pilot Program for medical cannabis – with future targets for further and new patient groups and segments.
“We continue to build our presence and reputation as an Active Pharmaceutical Ingredient supplier in emerging markets such as Denmark where we are qualified by our GMP-certified production capabilities for medicinal, wellness and adult use applications,” said Pat McCutcheon, CEO, MediPharm Labs. “We are pleased to be adding a healthcare focused company like DanCann Pharma to our growing customer portfolio as they look to develop new and innovative medical cannabis products in therapeutic areas we believe will drive additional growth opportunities in a young market like Denmark and the rest of Europe.”
Under the agreement, which has an initial two-year term, MediPharm Labs will supply a full range of specially formulated CBD and THC cannabis oil products that will be white-labeled for distribution.
“At DanCann Pharma our vision is clear, to improve the health and quality of life for patients facing challenges and while working to create new cannabis- and cannabinoid-based pharmaceuticals for the future. Our focus on differentiated innovative drug administration systems will enable us to create a leading Scandinavian cannabis- and cannabinoid-based company,” said Jeppe Krog Rasmussen, Founder and CEO, DanCann Pharma. “Pharmaceutical cannabis- and cannabinoids are an important and exciting industry showing signs of strong growth, increasing interest, and rising popularity – an extremely powerful combination and foundation for industry pioneering companies in Europe. We are very excited about this collaboration with MediPharm Labs, and look forward to soon being able to deliver products to the many Danish, and in the future, Scandinavian patients who seek alternative treatment who have not been successful with conventional medicine.”
About Denmark’s Medical Cannabis Market
Denmark launched its four-year medical cannabis pilot program on January 1st, 20181. Post-harvest Good Manufacturing Processes (GMP) is required for distribution of medical cannabis products in Denmark2.
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 damage3. 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; previous cannabis drug approvals in Europe and the US; and scientific evidence by the National Academy of Sciences (USA, 2017).
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.
Sept. 22, 2020 -MediPharm Labs Enters Brazil – Latin America’s Largest Medical Cannabis Market in Partnership with XLR8 Brazil
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 its wholly owned subsidiary MediPharm Labs Inc. will supply premium, GMP-certified formulated cannabis oil to XLR8 BRAZIL (“XLR8”), a Rio de Janeiro based value-added distributor serving Brazil, Latin America’s largest medical cannabis market.
Under the two-year agreement commencing from the time of product authorization, MediPharm Labs Inc. will provide a variety of cannabis concentrate formats for patient-ready formulated products that will be distributed by XLR8 to leading pharmacies and other authorized channels in Brazil. The initial product SKUS include a 20:1 CBD rich product and a 10:10 balanced THC and CBD formulation. XLR8 will obtain ANVISA Sanitary Product Authorization and undertake the process for final Product Registrations.
“By virtue of its large population, forward-thinking legislative eco-system and economic strength, Brazil is one of the world’s most promising medical cannabis markets and the natural next port of call for our international expansion and growth strategy,” said Pat McCutcheon, CEO of MediPharm Labs. “Given Brazil’s potential as one of our key target markets, we have chosen to partner with XLR8 because of their focus on quality and compliance, their extensive relationships with local healthcare professionals and dedicated focus on the advancement of medical cannabis scientific validation and education. They are the perfect complement to and outlet for our pharma-quality production.”
This is MediPharm Labs’ second distribution agreement in Latin America and evidence of growing international momentum with its strategy of targeting emerging jurisdictions that offer excellent opportunity for sustainable revenue expansion.
“As early participants in the Brazilian medical cannabis industry dating back to its involvement in the pioneering import of medical cannabis oil for patient use from Canada to Brazil in 2017, XLR8 is pleased to have entered into this supply agreement with one of the only PIC/S GMP certified manufacturers of medical cannabis derivatives,” says Mike Dacks of Type 2 Ventures who acts as a strategic advisor to XLR8. “We look forward to bringing these products to market and to working with ANVISA as well as our ecosystem of local partners to bring the required clinical validation for final Product Registrations under the new Brazilian legislative framework.”
“In our view, Brazil is destined to be a global powerhouse in medical cannabis,” said Thiago Callado, Founder and CEO of XLR8. “To make this exciting future a reality, Brazilians need reliable access to formulations that are constructed using proven methodologies that meet the most rigorous international standards of care. By aligning with MediPharm Labs, a company that has GMP certification, the veritable gold seal in pharma-grade production, XLR8 can now begin to fulfill our mission of market leadership.”
Sept. 03, 2020 - MediPharm Labs Enters Growing Latin American Medical Cannabis Market; Enters Supply Agreement With Cann Farm Peru
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 its wholly owned subsidiary MediPharm Labs Inc. will supply premium, formulated cannabis oil to Cann Farm Peru S.A.C., a Lima-based producer and distributor serving Peruvian and other markets in Latin America.
This is MediPharm Labs first such agreement in Latin America and the most recent example of the Company’s international growth strategy in action. As part of this strategy, the Company has expanded its addressable medical, wellness and adult-use markets to parts of Asia Pacific, Europe and now Latin America.
MediPharm Labs is creating footholds in medical, wellness and adult-use markets around the world and in Latin American countries. With a combined population of approximately 580 million – and beginning with its fifth largest country Peru – Latin America factors highly in the Company’s business plan. As an early mover among Latin American countries, Peru has created a legal framework for producing, importing and selling cannabis for medical use. As a result, Peru’s market is advancing rapidly and offers the potential to register varied formats of cannabis based products. Using a range of pricing, consumption and patient datasets, the LATAM Cannabis Report™ by Prohibition Partners(1) forecasts that the LATAM market is expected to exceed US$12 billion by 2028, offering “serious growth potential to global cannabis companies.”
“Peru is one of the top medical cannabis markets in the world and Cann Farm is one of very few cannabis companies which hold both a Droguería licence and cannabis importation licence which makes this agreement of outstanding strategic value to MediPharm Labs,” said Pat McCutcheon, CEO, MediPharm Labs. “As we pursue our global ambitions, it is vital for us to partner with companies of Cann Farm’s calibre who know their local markets intimately, have a real appreciation for the needs of patients, an ongoing commitment to scientific advancement and a sound plan for regional expansion. We expect great things from this collaboration.”
Under the one-year renewable agreement, MediPharm Labs Inc. will provide a variety of cannabis concentrate formats, with optionality for patient ready formulated products. The products will be distributed to patients through pharmacies in Peru. Cann Farm will in turn obtain all Peruvian registrations, authorizations and approvals required for importation. In the future, Cann Farm may look to MediPharm Labs for further support in commercialization activities. MediPharm Labs anticipates delivery to begin in Q4 2020, pending regulatory approval by applicable health authorities.
“Cann Farm was created from our deep commitment to patients, who demand reliable, consistent high quality, and proven product integrity; therefore we choose our partners very carefully,” said Andres Vazquez Vargas, Executive President, Cann Farm Peru. “What impresses us most about MediPharm Labs is their focus on medical markets and their commitment to our production standards, as is seen with their GMP certification, which is the gold standard in pharma production. It’s rare to see GMP certification in the cannabis supply chain because it’s a complex and rigorous process to earn the qualification. This tells us all we need to know about their ability to meet our needs on not only a continuous, but consistent basis.”
For Full Release: https://www.globenewswire.com/news-release/2020/09/03/2088348/0/en/MediPharm-Labs-Enters-Growing-Latin-American-Medical-Cannabis-Market-Enters-Supply-Agreement-With-Cann-Farm-Peru.html
Aug. 26, 2020 - MediPharm Labs Launches New Sublingual Sprays for Sale via Medical Cannabis by Shoppers™ Under Agreement With Avicanna
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 its wholly-owned subsidiary, MediPharm Labs Inc., has launched and completed production of a new product format, sublingual sprays, as part of its multi-faceted strategic pharmaceutical manufacturing agreement with Avicanna Inc. (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN) (“Avicanna”), a leading biopharmaceutical company.
Marketed under Avicanna’s RHO Phyto™ medical brand, the high-performance RHO Phyto Rapid Act Sprays will be available nationally to Canadian medical patients through the Medical Cannabis by Shoppers™ online healthcare platform in the coming weeks. RHO Phyto Rapid Act Sprays are optimized for increased absorption and faster onset in comparison to basic MCT (medium-chain triglyceride) sublingual sprays. The products are discreet, easy to use, administered under the tongue to provide more direct absorption into the bloodstream, convenient and pleasing to taste.
“Avicanna chose MediPharm Labs to be their manufacturing partner across a wide range of product formulations because of our pharmaceutical-quality production capabilities and I’m proud to say these were used to great effect in fulfilling this important order,” said Pat McCutcheon, CEO, MediPharm Labs. “Medical cannabis users will be delighted with the quality and reliability of RHO Phyto Rapid Act Sprays and more broadly with the fact that Avicanna is leading the way in bringing new and innovative sustainable plant-derived cannabinoid-based products to assist in their care and wellbeing.”
The alliance between the two companies is designed to provide patients and the medical community with the most advanced product offerings backed by scientific rigour, data and world-class quality standards. Avicanna has a rich pipeline of formulations that it has developed over the past four years in collaboration with leading Canadian research institutions.
For Full Release: https://www.globenewswire.com/news-release/2020/08/26/2083904/0/en/MediPharm-Labs-Launches-New-Sublingual-Sprays-for-Sale-via-Medical-Cannabis-by-Shoppers-Under-Agreement-With-Avicanna.html
Aug. 19, 2020 - MediPharm Labs Australia Expands Revenue Opportunity On Expanded GMP Licence
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 that its Australian operation – MediPharm Labs Australia Pty. Ltd. (“MediPharm Labs Australia”) – has received an important enabling amendment to its Good Manufacturing Practice (“GMP”) Certification and Licence to Manufacture Therapeutic Goods.
The licence expansion, granted under Section 40B of the Australian Therapeutic Goods Act 1989 by the Therapeutic Goods Administration of the Australian Government’s Department of Health, provides MediPharm Labs with the ability to manufacture Active Pharmaceutical Ingredient (“API”) derived from cannabis and cannabis intermediates – such as resins, extracts and isolates – as well as medicinal cannabis finished products including oral liquids, soft-gel capsules and oil. This is one of very few licenses of its kind for dedicated medicinal cannabis manufacture in Australia.
MediPharm Labs Australia is poised to service the entire Australian patient population. July was a record month in Australia with over 5560 SAS-B medical cannabis approvals, an increase of 20% from June (4,630). As of 31 July 2020, the TGA approved over 56,000 SAS Category B applications for unapproved medicinal cannabis products(1). At current levels, MediPharm Labs anticipates more than 70,000 patient approvals could be achieved by the end of 2020.
“This licence amendment paves the way for MediPharm Labs Australia to immediately begin using our facility as it was intended: to manufacture the highest quality APIs and finished medical cannabis formulations for our rapidly growing base of customers,” said Warren Everitt, CEO, Asia Pacific, MediPharm Labs. “We are extremely proud of this achievement and the MediPharm Labs Australia team that made it happen as it reflects our longstanding commitment to GMP standards and pharma principles of production.”
MediPharm Labs Australia was certified by the Therapeutic Goods Administration (“TGA”) as meeting GMP quality standards of practice and secured a Licence to Manufacture Therapeutic Goods in May 2020 and is already generating revenue. MediPharm Labs Australia reported over $600,000 revenue in Q2 2020 from the final packaging of products, originally bulk manufactured in its Canadian headquarters, for sale to Australian customers. As the Company’s Canadian facility was TGA GMP certified in late 2019, MediPharm Labs boasts a global pharmaceutical-quality supply chain that is qualified to serve emerging medical markets internationally…
Aug. 13, 2020 - MediPharm Labs Reports Second Quarter 2020 Results, Strong Progress With International Expansion
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 its financial results for the three and six months ended June 30, 2020.
“The first half of 2020 was a transformative period in which we substantially strengthened our balance sheet and liquidity, secured new international customer supply agreements and delivered material, sequential improvements in key financial and operating metrics,” said Pat McCutcheon, CEO, MediPharm Labs. “Our strategy to manufacture multiple products for multiple customers in multiple jurisdictions is on track. We are very encouraged with the pace of MediPharm Labs’ transformation from a domestic to a global company.”
“Q2 featured a 25% improvement in revenue and a strong recovery in gross profit and margin from Q1 – without a meaningful change in Canadian recreational cannabis market conditions,” said McCutcheon. “This improvement was achieved on the back of a solid increase in product deliveries, expansion of our vapes and oils SKUs, the launch of our own CBD brands and tight spending controls. At the same time, we accelerated our international growth strategy – successfully commercializing our Australian operations, increasing our total addressable market, winning contracts with customers in growing European and Asia Pacific markets, and developing exciting sales prospects with large pharma and CPG companies.”
Q2 FINANCIAL AND OPERATIONAL SUMMARY
- Cash and equivalents balance at June 30, 2020, was $27.9 million. On June 8, 2020, the Company successfully completed a private placement for aggregate gross proceeds of $37.8 million with 50% of such amounts closing into escrow. Subsequent to quarter end, on August 6, 2020, the remaining 50% of the gross proceeds, net of certain fees, was released from escrow to further strengthen the Company’s liquidity.
- Revenue was $13.9 million, a 25% increase over Q1 2020, due to higher volume of bulk concentrates sold and growing shipments of formulated finished products to provincial distributors throughout Canada.
- Finished formulated product shipments grew to comprise 16% of Q2 2020 revenue, up from 13% in the Q1 2020 and nil in Q4 2019.
- Gross profit was $2.2 million and gross margin was 16%, compared to ($10.9 million) in Q1 2020 primarily due to an inventory write down in Q1 2020.
- Net loss before tax was $3.8 million, compared to a net loss of $22 million in Q1 2020, despite reduced average selling prices for bulk concentrates.
- Adjusted EBITDA1 was ($2.2 million), a 66% improvement over Q1 2020 as a result of an increase in revenue and decrease in headcount and ERP implementation expenses…
Aug. 04, 2020 - MediPharm Labs Appoints Former President of Janssen Inc., one of the Janssen Pharmaceutical Companies of Johnson & Johnson, to Board of Directors
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, is pleased to announce the appointment of Chris Halyk – former President of Janssen Inc. (Canada), one of the Janssen Pharmaceutical Companies of Johnson & Johnson – to its Board of Directors, effective immediately. This is the third appointment that the Company’s Board has made this year to prepare MediPharm Labs for its next stage of international growth and development.
Mr. Halyk has 35 years of pharmaceutical industry experience including 33 years with Johnson & Johnson. Among his many career highlights, he served as: Vice-President, Sales and Marketing and a member of the Janssen Management Board with responsibility for innovations in direct-to-consumer advertising, patient education and sales force automation; Managing Director of Ortho Biotech, the biopharmaceutical division of Janssen Inc.; and from 2006 until his retirement in 2019 as the President of Janssen Inc. (Canada) where under his leadership, the company became the largest pharmaceutical company in Canada. During his tenure, his accomplishments included, bringing innovative products, services and solutions to market along with new technologies and treatments in oncology, immunology, neuroscience, infectious diseases and vaccines, cardiovascular and metabolism and pulmonary hypertension.
“Chris brings a wealth of pharmaceutical industry experience, deep leadership expertise and extensive connections to our Board earned while serving the largest and most diversified healthcare company in the world,” said Pat McCutcheon, Chief Executive Officer, MediPharm Labs. “His qualifications are very pertinent to MediPharm Labs as we advance our standing in the worldwide market for pharmaceutical-quality medical cannabis. We have set very high standards for membership on our Board and I am delighted that Chris has chosen to join us.”
Mr. Halyk’s appointment, which follows an extensive search process, reflects the objective of ensuring that the Board of Directors and its committees are comprised of professionals having the knowledge, experience, skills, expertise, and diversity of perspective necessary for effective governance of the Company.
“I am very impressed by MediPharm Labs evolution from start up to emerging medical cannabis industry leader and its commitment to GMP-grade pharmaceutical practices in all of its operations,” said Mr. Halyk. “I am also impressed with the evolution of its Board and leadership team. From my perspective, this is a company that is putting all the right pieces in place for long term, global success and I look forward to participating actively in its development.”
Mr. Halyk holds an Honours Business Administration degree from Ivey Business School at Western University. He served as the Chair of the Board of Directors for Rx&D, the industry association for Canada’s Research-Based Pharmaceutical Companies (now named Innovative Medicines Canada) from 2012 until 2013. Before joining Johnson & Johnson, Mr. Halyk worked for pharmaceutical company Warner-Lambert in Toronto.
With Mr. Halyk’s appointment, MediPharm Labs’ Board of Directors will consist of nine members, six of whom are independent.
In connection with his appointment, the Company granted 300,000 options to Mr. Halyk at an exercise price set at the close of business on July 31, 2020. Each grant has a five-year term expiring July 31, 2025.
For Full Release: https://www.globenewswire.com/news-release/2020/08/04/2072287/0/en/MediPharm-Labs-Appoints-Former-President-of-Janssen-Inc-one-of-the-Janssen-Pharmaceutical-Companies-of-Johnson-Johnson-to-Board-of-Directors.html
July 23, 2020 - MediPharm Labs Achieves First Sales Milestone in Australia, Global Sales for GMP Products Continue to Ramp Up in Q3 2020
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 its Australian operation – MediPharm Labs Australia Pty. Ltd. – has reached its first month operational milestone, with approximately $500,000 AUD, of formulated products delivered to customers in Australia, on its way to developing a strong commercial presence in international markets.
“MediPharm Labs Australia was conceived as a part of our strategy to develop a multi-jurisdictional, GMP-certified production capability for worldwide medicinal, wellness and adult-use markets and since opening at the end of 2019, it has signed a number of significant domestic and international customer supply agreements,” said Pat McCutcheon, Chief Executive Officer, MediPharm Labs. “To reach this revenue milestone this quickly – in fact just two months after receiving Australian GMP certification – is positive proof of the demand for our capabilities and formulations and that our international team is beginning to hit its stride. I congratulate my colleagues in Australia for what will be the first of many milestone accomplishments.”
The Company’s Australian facility was certified by the Therapeutic Goods Administration (“TGA”) as meeting the GMP standard and secured a Licence to Manufacture Therapeutic Goods in May 2020. As the Company’s Canadian facility was TGA GMP certified in late 2019, MediPharm Labs has created a global pharmaceutical-quality supply chain that is qualified to serve new emerging medical markets internationally.
“Speaking on behalf of our local team, we couldn’t be more excited by this development and the long-term potential we have to lead our markets,” said Warren Everitt, CEO, Asia Pacific, MediPharm Labs. “Our first month of operations included shipments of approximately $500,000 AUD comprising formulated CBD and THC oils that our customers can trust for quality and reliability. These shipments are the product of synergies between our Canadian and Australian facilities as they were made possible by a large shipment of finished products and bulk oil from our sister GMP-certified facility in Barrie, Ontario. We intend to continue taking advantage of our internal supply pipeline on a strategic basis as we expand our international market share.” …
For Full Release: https://www.globenewswire.com/news-release/2020/07/23/2066468/0/en/MediPharm-Labs-Achieves-First-Sales-Milestone-in-Australia-Global-Sales-for-GMP-Products-Continue-to-Ramp-Up-in-Q3-2020.html
July 16, 2020 - MediPharm Labs Selected by University Health Network and Medical Cannabis by Shoppers Inc. for First Real-World Evidence, Patient-Centred Clinical Trial Using Blockchain Technology
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 its participation in a ground-breaking collaboration between University Health Network (“UHN”) and Medical Cannabis by Shoppers Inc. that will use blockchain technology to track medical cannabis products from seed to sale.
MediPharm Labs’ own pharma-quality (GMP Certified) CBD and THC products, including CBD 25, CBD 25:5 and CBD 50, first launched on the Medical Cannabis by Shoppers™ portal earlier this year, as well as a suite of Avicanna Inc’s Rho Phyto™ CBD and THC products, manufactured by MediPharm Labs, have been selected to be used in a 24-week observational study targeting at least 2,000 Canadian medical cannabis consumers.
“As part of the largest pharmacy chain in Canada, the Medical Cannabis by Shoppers team is delighted to partner in this research with MediPharm Labs, a trusted name in the cannabis industry and a company with whom we have a strong commercial relationship,” said Ken Weisbrod, Vice President Business Development/Cannabis Strategy, Shoppers Drug Mart. “The success of this research is dependent on collaboration, and with partners like UHN, MediPharm Labs, TruTrace and Shoppers on board, the stage is set for achievement.”
The collaboration will use a blockchain-secured software platform – designed by TruTrace Technologies Inc. (CSE: TTT)(OTCQB: TTTSF) (CSE: TTT)(OTCQB: TTTSF) and integrated with the Medical Cannabis by Shoppers portal – to manage, track and trace medical cannabis strains in 7 distinct products manufactured by MediPharm Labs, or about 20% of the study formulary, in various formats including oils and extracts throughout each step of the supply chain.
Robert Galarza, CEO, TruTrace Technologies commented, “The evolution of the medical cannabis industry over the past several years has been nothing short of remarkable and the commitment by MediPharm Labs to implement the highest level of product quality through certified GMP standards and protocols, as well as a desire to advance innovation, collaboration and technology alongside companies like ours will only further drive our industry forward. We are excited to explore how the power of dynamic and transparent data can support their initiatives in Canada and beyond.”
“This important study, conducted by one of the largest health research organizations in Canada, will have wide-reaching benefits for cannabis patients and MediPharm Labs as we remain dedicated to producing pharmaceutical-quality products that are rigorously tested and verified on a lot-by-lot basis using GMP certified standards,” said Pat McCutcheon, Chief Executive Officer, MediPharm Labs. “Our view is that this study has the potential to enhance confidence in medical cannabis by giving physicians and patients true transparency into product chemistry, composition and effectiveness so that they can prescribe validated products and adjust their treatment regimens based on real-world evidence. We are proud to be a contributing partner with leaders in the fields of science, technology, medical dispensary and cannabis who have come together to make this study possible.”
About the UHN Study
This novel Medical Cannabis Real World Evidence study will look to match cannabis genetics, with defined cannabinoid and terpene profiles, to patient outcomes using validated questionnaires and scales. Patients enrolled in this study will have access to a wide range of products that have consistent genetic, chemical, cannabinoid and terpene profiles and will know exactly what is in their products down to the milligram of THC and cannabidiol. If a product in the study is effective for them, they can rely on it being identical, from batch to batch.
From this work, a national repository of real-time data about cannabis products, their composition and their effectiveness will be made available to Medical Cannabis by Shoppers’ patients.
Patients participating in the study will use the same ecommerce platform as other Medical Cannabis by Shoppers patients, though research participants will have access to the first fully verified products. First launched in Ontario in January 2019, Medical Cannabis by Shoppers (a subsidiary of Shoppers Drug Mart) provides patient access to numerous medical cannabis products from over 20 licensed cannabis brands. Cannabis medication can be ordered online or via phone, and is shipped directly and discreetly to their doorstep. The Shoppers Cannabis Care team – a dedicated call center staffed by cannabis-trained advisors and pharmacists – provides counselling and support for patients.
University Health Network consists of Toronto General, recently ranked the #4 Hospital in the World according to Newsweek Magazine, and Toronto Western Hospital, the Princess Margaret Cancer Centre, Toronto Rehabilitation Institute, and the Michener Institute of Education at UHN. The scope of research and complexity of cases at University Health Network has made it a national and international source of discovery, education, and patient care.
Why Traceability Is Important
Medical cannabis currently lacks assigned Drug Identification Numbers (“DINs”) that quantify attributes such as chemistry, genetics, and metabolomics. This information is critical for producers, distributors, government agencies, payers, clinicians, and patients. Maintaining an effective and interoperable traceability ecosystem built on reliable and immutable data provides safe and consistent medicine.
MediPharm Labs distinguishes itself as a supplier of medical cannabis through its GMP-certified production capabilities. This internationally recognized certification is only granted to companies that can demonstrate consistency, precision, and quality in all stages of production and are able to comply with GMP principles for manufacturing Active Pharmaceutical Ingredients and final medicinal products.
For Full Release: https://www.globenewswire.com/news-release/2020/07/16/2063212/0/en/MediPharm-Labs-Selected-by-University-Health-Network-and-Medical-Cannabis-by-Shoppers-Inc-for-First-Real-World-Evidence-Patient-Centred-Clinical-Trial-Using-Blockchain-Technology.html
July 14, 2020 - MediPharm Labs Appoints BMO Capital Markets Executive to Board of Directors
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, is delighted to announce the appointment of Chris Taves – Chief Operating Officer (“COO”) of BMO Capital Markets – to its Board of Directors effective July 13, 2020. This key appointment follows an extensive planning and search process.
As COO of BMO Capital Markets (“BMOCM”), a leading full-service financial services provider and member of BMO Financial Group, one of the largest banks in North America, Mr. Taves is responsible for setting and overseeing implementation of BMOCM’s strategies and for all balance sheet and risk taking activity as well as regulatory, compliance and operational functions. He also serves as a Board Member of BMO China Co. and BMO Capital Markets Corp. Prior to assuming his current role in 2018, he served as Head of Global Markets responsible for BMO’s global trading businesses and in various other roles over an 11-year career at BMO.
“Chris’ substantial experience as a senior business strategist, advisor and entrepreneur and distinguished track record in the capital markets both at home and abroad make him exceedingly well qualified to provide meaningful value to the governance of our business as we expand our global leadership,” said Pat McCutcheon, Chief Executive Officer, MediPharm Labs. “As an independent Director with deep roots in finance and risk management, Chris will lead the Board’s Audit Committee. We are delighted to welcome Chris, and we look forward to his contributions as we advance our strategic priorities.”
Mr. Taves began his career at KPMG in 1989 and joined Citigroup in 1997 where he became Head of Corporate Canada Team, Derivatives & Structured Product before moving to BMOCM. He has an MBA from the Ivey Business School at Western University, and a Bachelor of Mathematics from the University of Waterloo. He is a CA CPA and a member of the National Association of Corporate Directors.
“MediPharm Labs is entering an exciting phase of global growth and it is very clear to me that its senior management team and Board are committed to taking all the steps necessary to manage risk while deploying capital for maximum value creation,” said Mr. Taves. “I am excited to have the opportunity to serve as a member of the Board and to work closely with what I consider one of the best leadership teams in the cannabis industry.”
With Mr. Taves’ appointment, MediPharm Labs’ Board of Directors will consist of eight members, five of whom are independent.
In connection with his appointment, the Company granted 300,000 options to Mr. Taves at an exercise price set at the close of business on July 13 , 2020. Each grant has a five-year term expiring July 13, 2025.
July 09, 2020 - MediPharm Labs to Participate at CBD BioPharma Virtual Investor Conference
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, is pleased to announce that MediPharm Labs’ management will participate in the CBD BioPharma Virtual Investor Conference on Thursday, July 9th.
The audio webcast presentation will begin at 11:30am Eastern Time. Participants may access the audio webcast using the following link: https://www.tinyurl.com/070920VICPR or through the events section of MediPharm Labs Investor Relations website at https://ir.medipharmlabs.com/ir-calendar .
June 25, 2020 - MediPharm Labs Expands Innovative CBD Product Portfolio By Introducing CBD25:5 Release Formula
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 a further expansion of its innovative, pharma-quality family of branded products with the retail introduction of CBD25:5 Release Formula (“CBD25:5”).
This latest brand – the third launched from MediPharm Labs’ GMP-certified Canadian facility since late March – is ideal for medical patients and adult users who covet a full-spectrum cannabis oil in a specially formulated ratio of approximately 25mg/ml of CBD and 5mg/ml of THC, harnessing the properties of both cannabinoids.
“Canadians have told us loud and clear they want more and better choices at retail and MediPharm Labs is not only listening, we’re acting by delivering a portfolio of quality-tested, Cannabis brands and formulated products – now including CBD25:5 – that consumers can trust for everyday use,” said Pat McCutcheon, Chief Executive Officer, MediPharm Labs. “CBD25:5 is an important breakthrough because of its specially designed release formula. Recognizing the potential of this product, we’re delighted to note that Medical Cannabis by Shoppers, Canada’s major national medical platform and retailer, as well as several other private provincial distributors have now committed to bringing CBD25:5 to market with more to follow.”
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/81d6feed-86d3-435b-b462-678a9e9d3952
Initial quantities of CBD25:5 recently shipped to Medical Cannabis by ShoppersTM, and to cannabis retailers and distributors in British Columbia and Saskatchewan. Delivering one of the more differentiated formulations on the market to multiple jurisdictions, MediPharm Labs plans to achieve full national distribution of its branded family of cannabis products, which includes CBD 25 Regular Formula and the more potent CBD 50 Plus Formula already available more broadly.
June 23, 2020 - REPEAT - MediPharm Labs Appoints Former Nestlé Canada President and CEO, Shelley Martin, to Board of Directors
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, is delighted to announce the appointment of Shelley Martin – former President and CEO of Nestlé Canada and a consumer packaged goods industry top executive with an outstanding track record of success – to its Board of Directors effective immediately. This key appointment follows an extensive planning and search process.
Ms. Martin served in a variety of senior executive roles at Nestlé Canada Inc. from 1990 until she retired after five years as President and Chief Executive Officer in 2018. During her time leading Nestlé Canada, she drove a substantial increase in revenue, market share and profitability and transformed core business units and brands by introducing new formulas, packaging, pricing, global sources of supply and Lean (Six Sigma) tools. In 2018, Nestlé Canada’s annual sales were approximately $2.6 billion. She began her career at General Mills Canada in 1985 and was named one of Canada’s Most Powerful Women by the Women’s Executive Network (WXN) in 2015, 2016 and 2018.
“Shelley is a proven leader with strong governance, strategic, operational and commercial skills that will be invaluable to our Board and to MediPharm Labs as we expand our global leadership in medicinal, wellness and adult-use cannabis markets,” said Pat McCutcheon, Chief Executive Officer, MediPharm Labs. “As we build our own portfolio of innovative brands and serve as a key partner to global pharmaceutical and consumer-packaged goods companies committed to entering the cannabis industry with new products, as well as other licensed cannabis companies looking to grow their market share, Shelley’s deep and broad expertise and connections will add new and vitally important dimensions to the governance of our business. We are delighted that she has chosen to join us.”
Ms. Martin is a member of the Advisory Board of Moosehead Breweries as well as Crosby Molasses, and is a Director of Vineland Research and Innovation Centre, a leader in horticultural research and innovation. From 2016 to 2018, she served as Board Chair of Food & Consumer Products of Canada (FCPC), which represents more than 100 food, beverage, and consumer product manufacturers of all sizes. From 2013 to 2018, she was a Director of The Grocery Foundation, a not-for-profit organization that has raised over $90 million for student nutrition programs. Ms. Martin is a graduate of Wilfrid Laurier University (Bachelor of Business Administration) and earned the Institute of Corporate Directors ICD. D designation in 2016.
“MediPharm Labs has industry leading capabilities and talent, an impressive roster of enabling licenses – including a Research Licence for Human Administration Trials and Product Tasting of Cannabis – a credible plan for growth and the financial resources to execute its strategy,” said Ms. Martin. “Because it puts such a substantial emphasis on scientific research and consumer-driven innovation, and has internationally recognized GMP production credentials, I believe MediPharm Labs has what it takes to win over the world’s leading consumer packaged goods and pharmaceutical companies as they investigate the exciting opportunities available in the cannabis market. I look forward to participating in the development of this dedicated business.”
In connection with her appointment, the Company granted 300,000 options to Shelley Martin at an exercise price set as at the close of business on June 22, 2020. Each grant has a five-year term expiring June 22, 2025.
With Ms. Martin’s appointment, MediPharm Labs’ Board of Directors will consist of 7 members, 4 of whom are independent.
For Full Release: https://www.globenewswire.com/news-release/2020/06/23/2051957/0/en/REPEAT-MediPharm-Labs-Appoints-Former-Nestl%C3%A9-Canada-President-and-CEO-Shelley-Martin-to-Board-of-Directors.html
June 19, 2020 - MediPharm Labs Australia Enters Into New Supply Agreement With VIVO Cannabis and Prepares to Commence Sales
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 that its subsidiary, MediPharm Labs Australia Pty. Ltd. (“MediPharm Labs Australia”) has entered into an agreement to supply pharmaceutical-quality (GMP certified), formulated cannabis oil products to Beacon Medical Australia Pty. Ltd. (“Beacon Medical Australia”), a subsidiary of VIVO Cannabis Inc. (TSX: VIVO, OTCQX: VVCIF) (“VIVO Cannabis”).
Under the agreement with Beacon Medical Australia, which has an initial one-year term subject to renewal, MediPharm Labs Australia will supply a full range of GMP-certified, formulated CBD and THC cannabis oil products to Beacon Medical Australia for further distribution under its own branding.
“Just weeks after MediPharm Labs Australia was granted GMP Certification, we’re pleased to announce this agreement that underscores the burgeoning demand for our specialized skills and rapid success in converting our opportunity pipeline into tangible, revenue-generating business,” said Warren Everitt, CEO, Asia Pacific, MediPharm Labs. “We are excited to be working with VIVO to bring high quality products to medical consumers across Australia and other emerging markets.”
“VIVO’s international efforts remain focused on the emerging Australian and German markets and we continue to seek out partnerships with organizations that have proven track records,” said Barry Fishman, CEO of VIVO. “For this reason, we are thrilled to be working with MediPharm Labs to leverage their GMP production capabilities to accelerate our Australian market presence. We are confident this will allow us to continue to provide our Australian patients with the medical-grade products they have come to expect from the Beacon Medical™ brand.”
MediPharm Labs Australia Nearing Commercialization and First Revenues
MediPharm Labs also announced that MediPharm Labs Australia has received a large shipment of 35,000 GMP-units of formulated finished products and a large volume of bulk oil for further manufacturing into finished products, from its Barrie, Ontario facility to meet its burgeoning customer needs within the Australian domestic and export cannabis markets.
Australia remains one of the fastest growing medical cannabis markets in the world. According to the Therapeutic Goods Administration (TGA), the rate of medical cannabis approvals is accelerating in Australia. Up to May 31, 2020, the TGA had approved over 46,000 SAS Category B applications for unapproved medicinal cannabis products, with 83% of all those approvals occurring in the last 12 months alone.1 Currently, the Australian legal cannabis market is estimated at US$40 million, and as a result of various recent regulatory changes is expected to grow to US$170 million by next year, and over $1 billion by 2023.2
“Since we expect to expand our international distribution of proprietary cannabis concentrate products for sale globally, we intend to continue to use our Barrie, Ontario facility to supply finished goods to complement our asset in Australia,” said Warren Everitt, CEO, MediPharm Labs Australia. “Having two GMP-certified manufacturing platforms integrated into a global supply-chain gives us flexibility to respond to global demand in an efficient and effective manner for our customers.”
“By leveraging our deep scientific, production and regulatory expertise, we have created two strong GMP certified manufacturing platforms, secured all licenses necessary to operate on a multi-jurisdictional basis and developed a very attractive portfolio of international supply agreements that will make great use of our industry-leading pharma-quality capabilities,” said Pat McCutcheon, CEO, MediPharm Labs. “We have a very clear roadmap for international expansion and now the means to begin achieving our objectives in a risk-managed but assertive fashion.”
June 04, 2020 - MediPharm Labs Accelerates Growth of Pharma-Quality Product Portfolio With Launch of its New CBD50 Plus Formula
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 a significant advancement for Canadian consumers with the introduction of MediPharm Labs CBD50 Plus Formula (“CBD50”), a uniquely formulated, high potency oil for medical and adult use, that expands the Company’s its pharma-quality product portfolio.
As a matter of strategy, MediPharm Labs has dedicated itself to using its proven platform and expertise to expand its white label product portfolio and develop its own in-house Cannabis 2.0 brands – all with an unwavering commitment to offering Canadian consumers truly differentiated cannabis derivative products.
“We’ve positioned ourselves to lead the market in well-defined Cannabis 2.0 categories on our own and through our growing white-label supply business,’” said Pat McCutcheon, Chief Executive Officer, MediPharm Labs. “Today’s announced product launch, coupled with other recently formed partnerships, demonstrate just how far we’ve come in realizing our ambition to transition our focus to commercializing and distributing a robust portfolio of pharma-quality products.”
MediPharm Labs CBD Line
Using its sophisticated, pharmaceutical-quality GMP certified platform and R&D capabilities, MediPharm Labs has launched CBD50 Plus Formula, which is designed to meet consumer and patient demand for high potency formulations. CBD50 is a 50:1 CBD:THC formulated oil, with on average twice-the-potency of other bottled CBD oils currently available in the adult-use market. Offering both purity and potency, CBD50 Plus Formula contains approximately 1000mg of Total CBD and 2mg of THC per 20ml bottle. CBD50 will be available in multiple distribution channels to address the needs of approximately 1.1 million Canadians who now use cannabis for medical purposes, according to Statistics Canada1. CBD50 joins MediPharm Labs’ first in-house branded product – CBD25 Regular Formula– which was introduced at the end of March 2020 with shipments made to Medical Cannabis by Shoppers, the Ontario Cannabis Store, BC Cannabis Stores, as well as to select private retailers in Saskatchewan and Manitoba.
“With a unique understanding of consumer preferences, our growing reputation for product and distribution excellence, and our pipeline of new business opportunities, I believe the best is yet to come for our customers.”
Cannabis 2.0 Update
In late December 2019, the Company commenced shipments of Cannabis 2.0 products into three of Canada’s provincial jurisdictions – British Columbia, Manitoba and Saskatchewan.
Since then, MediPharm Labs has received multiple reorders and added several notable new customers:
- On May 27, 2020, the Company signed a white label supply agreement with Argentia Gold Corporation, a Canadian vertically integrated licensed producer, to bring premium cannabis-infused products to Atlantic Canada
- On May 25, 2020, the Company introduced a highly anticipated and innovative suite of Ace Valley Vapes under a white label agreement in several Canadian markets
- On May 14, 2020, the Company signed a multi-faceted agreement to produce Avicanna’s Rho Phyto™ medical cannabis products and Pura Earth™ topicals under license for commercial sales through Medical Cannabis by Shoppers™ and received a license to use proprietary Avicanna formulations to develop additional MediPharm Labs and white label branded products for domestic and international markets
MediPharm Labs is able to supply and provide tailored product formulations and solutions to its Licensed Producer and CPG customers who serve the four product categories recognized under Schedule 4 of the Cannabis Act: cannabis extracts (for ingestion and inhalation), cannabis topicals, edible cannabis (beverages and food products) and cannabis oils. This broad exposure to Cannabis 2.0 categories is a key business strength.
“As the market for Cannabis 2.0 products matures, MediPharm Labs will be there giving Canadians exactly what they want, when they want it, at pharma-quality,” said Mr. McCutcheon. “We look forward to playing a defining role in our industry in the months ahead as we continue to develop and distribute product formats and formulations that lead the market.”
For Full Release: https://www.globenewswire.com/news-release/2020/06/04/2043578/0/en/MediPharm-Labs-Accelerates-Growth-of-Pharma-Quality-Product-Portfolio-With-Launch-of-its-New-CBD50-Plus-Formula.html
May 27, 2020 - MediPharm Labs and Argentia Gold to Bring Premium Cannabis-Infused Products to Atlantic Canada
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 and Argentina Gold Corporation (“Argentia Gold”), a Canadian vertically integrated licensed producer, today announced the formation of a supply arrangement to bring premium cannabis-infused products to Atlantic Canada.
Under the agreement, which has an initial 2-year term, MediPharm Labs will provide Argentia Gold-branded formulated tincture bottles of CBD cannabis resin and Argentia Gold will provide distribution, sales, and service to leading retailers in Newfoundland and Labrador, Prince Edward Island, Nova Scotia and New Brunswick.
“We are committed to delivering the highest quality products to our customers throughout Atlantic Canada and doing so in partnership with MediPharm Labs is a virtual guarantee of success,” said Dave Thomson, President of Argentia Gold. “As our white-label supply partner, MediPharm Labs is able to address exactly what we need: reliable, responsive production that meets Good Manufacturing Practice (GMP) standards backed by some of the cannabis industry’s most knowledgeable scientists, pharmaceutical professionals and extraction specialists. Argentia Gold’s destination is market leadership and this agreement is an important milestone in our journey.”
Canadian consumption rates for cannabis are the highest per capita in Atlantic Canada (up to 26.8 percent in Nova Scotia, 25.2 per cent for Newfoundland, 23.2 per cent for Prince Edward Islandi). In comparison, the cannabis consumption rate for Ontario is up to 18.1 per centii.
“Consumers in Atlantic Canada deserve only the very best quality cannabis-infused products and that’s exactly what they will receive as a result of this exciting partnership,” said Pat McCutcheon, CEO of MediPharm Labs. “Argentia Gold is deeply invested in their community, understands the market, knows local preferences and with a trusted portfolio of premium products will no doubt grow into one of Canada’s foremost licensed producers. We are very proud to play a formative role in the next stage of their development.”