- European pharmaceutical company STADA and MediPharm Labs (LABS) begin first sales in Germany under an exclusive agreement
- Patients in Germany are now able to access GMP-certified quality medical cannabis from STADA through local pharmacies
- MediPharm Labs will provide STADA with eight differentiated products with different THC and CBD concentrations
- MediPharm Labs created and manages the entire supply chain
- MediPharm Labs Corp. (LABS) is up 8.79 per cent and is trading at C$0.50 at 2:34 pm ET.
MediPharm Labs Corp. (LABS) has commenced sales in Germany.
As a result, patients in Germany can now access GMP-certified quality medical cannabis from STADA through local pharmacies under the brand –CannabiSTADA, distributed through STADAPHARM, a direct subsidiary of STADA.
“This is the beginning of a meaningful long-term partnership dedicated to bringing the unique benefits of GMP-certified medical cannabis to patients in Europe,” said Keith Strachan, President and Interim Chief Executive Officer, MediPharm Labs.
“Based on our first deliveries under this portfolio agreement, we are ramping up new products that German patients suffering from chronic pain can count on to meet their individual personalized therapeutic needs,” added Strachan.
At full launch in 2021, MediPharm Labs will provide STADA with eight differentiated products, including three specialized cannabis extract formulations with different THC and CBD concentrations.
MediPharm Labs created and manages the entire supply chain responsible for sourcing, qualifying, manufacturing, labelling and delivering medical cannabis to STADA in Germany.
Based on sales volumes, STADA is the largest German pharmaceutical company active in the cannabis market.
“Medical cannabis represents a promising addition to STADA’s portfolio for patients whose established therapies no longer work sufficiently to address pain and suffering,” said Eleco Ockers, Head of STADA in Germany.
“We have decided to make a long-term investment in this growing pharma market, in partnership with MediPharm Labs, providing physicians, pharmacies and patients with carefully formulated solutions they can trust,” concluded Ockers.
STADA is initially focused on medical cannabis indications for chronic pain, neurology and oncology.
A specially trained field force for medical cannabis is now actively informing physicians about medical aspects and the practical use of medical cannabis, prescribing, applying for reimbursement by health insurance companies and individual patient treatment regimens.
To address market needs, STADA has partnered with MediPharm Labs as its “go–to” provider of a wide-ranging portfolio of products and services and full turnkey API suppliers for all formats and delivery methods.
This will ensure that physicians and pharmacies in Germany rely on STADA’s medical cannabis products to address patient needs reliably.
Upon full launch, STADA and MediPharm will innovate the offering for the German market and expand supply to other European countries where regulations allow.
For patient-specific therapy, STADA intends to create a broad product portfolio.
STADA Arzneimittel AG is headquartered in Bad Vilbel, Germany.
Founded in 2015, MediPharm Labs specializes in producing purified, pharmaceutical-quality cannabis oil and concentrates and advanced derivative products.
MediPharm Labs Corp. (LABS) is up 8.79 per cent and is trading at C$0.50 at 2:34 pm ET.
