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Marijuana

MediPharm Labs Corp (OTCMKTS:MEDIF) Partners With Medical Cannabis by Shoppers To Supply Medical cannabis Products

MediPharm Labs Corp (OTCMKTS:MEDIF) has announced that Canada’s leading pharmacy retailer, Shoppers Drug Mart, has chosen its subsidiary MediPharm Labs Inc. as a supplier of premium cannabis concentrate products. The subsidiary will supply the products via Medical Cannabis by Shoppers platform to medical patients across Canada.

MediPharm to start the shipping of products within two months 

According to the terms of the deal, MediPharm will user its novel pharmaceutical manufacturing platform, techniques as well as scientific data to supply Medical Cannabis by Shoppers a range of cannabis concentrate products such as formulated cannabis oils.  Equally, Medipharm will provide cannabis derivatives such as topicals and gels caps once they are available.

The company will likely commence shipment of formulated cannabis oils provided for in the agreement to Shoppers within 60 days of the agreement.  The agreement will run for three years, and it is subject to renewal for another extra two years.

MediPharm positioned to provide quality products

The CEO of Medipharm Labs Pat McCutcheon indicated that they were proud to partner with a leading pharmacy retailer in Canada to supply high-quality pharmaceutical cannabis concentrates to medical consumers nationally. McCutcheon stated MediPharm has the capacity to develop premium cannabis products because of its GMP certified platform, the pharmaceutically trained team as well as research license that allows human trails. He added that their operations are backed with novel scientific research that acts as a foundation for the enhanced expansion of the company’s offerings in the future.

The Medical Cannabis by Shoppers platform launched in January last year, and it ships cannabis products directly from licensed producers to consumers across Canada. As per the current regulations in Canada, Pharmacists are not permitted to dispense medical cannabis products over the counter from a pharmacy.

Currently, there are around 1.1 million Canadians who use medical cannabis, according to Statistics Canada. Therefore MediPharm’s partnership with the pharmacy retailer is a massive opportunity for the company to supply quality medical cannabis to Canadians. This will ensure that patients who are using medical cannabis get access to the best product.

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Marijuana

Medipharm Labs Corp (OTCMKTS:MEDIF) Clinches A Deal To Supply High Quality Cannabis To Cronos Group Inc (NASDAQ:CRON)

Medipharm Labs Corp (OTCMKTS:MEDIF) has entered a supply accord with Cronos Group Inc (NASDAQ:CRON) to supply high quality cannabis under the private label. The deal is worth $30 million and valid for 18 months. The contract could be extended to 24 months making the deal value to $60 million.

Cronos subsidiary – Peace Naturals Projects Inc will source high quality cannabis concentrates under the bulk resin supply accord from Medipharms Labs Inc., a wholly subsidiary of Medipharms.

As per the terms of the agreement signed on May 13, 2019, Medipharm Labs will receive dried cannabis in large quantities for processing at its specialized facility for a fee. Medipharm Labs will convert the dried cannabis into premium cannabis oil and bulk resin and sell back to Cronos.

A separate arrangement

Cronos has also inked a separate pact to use the Barrie, Ontario based extraction facility of Medipharm for some processing requirements.

Chief Executive Officer of Medipharm, Patrick McCutcheon said the company is pleased to associate with Cronos in its quest to introduce innovative products in the evolving cannabis industry of Canada. He further said the company is excited to bag the order for good quality concentrates under the private label. Medipharms will play a vital role in supporting Cronos with its expertise and modern extraction facilities to promote growth.

Chief Executive Officer of Cronos said the company looks to work with companies such as Medipharms for their high quality inputs and services for its products as the cannabis industry matures and develops. The company along with Medipharms will strive to introduce new products as it expects the launch of derivates this fall in Canada.

Cannabis manufacturing license

Medipharm Labs Australia Pty. Ltd., a subsidiary of Medipharms, has announced the receipt of a production license from AODC (Australian Office of Drug Control). The license allows the company to establish its footprint in the nation and capitalize on the growing demand for cannabis as an early mover.

Managing Director of Medipharm Labs Australia, Warren Everitt said the company is pleased to receive the manufacturing license under the Narcotic Drugs Act 1967. The license, which is granted on May 21, 2019, allows the company to play a lead role in the production of cannabis in Asia-Pacific and in Australia.

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