- MediPharm Labs (LABS) subsidiary, MediPharm Labs Inc. shipped its first order of medical cannabis oil to Cann Farm Peru S.A.C.
- MediPharm Labs' cannabis concentrate will be distributed to patients through pharmacies in Peru
- MediPharm Labs is creating footholds in markets around the world including Australia, New Zealand, Germany, Denmark, U.K., Peru and Brazil
- MediPharm Labs specializes in the production of pharmaceutical quality cannabis oil and concentrates
- MediPharm Labs Corp. (LABS) is down 2.11 per cent, trading at C$0.465 per share at 10:45 am ET
MediPharm Labs (LABS) subsidiary, MediPharm Labs Inc. shipped its first order of medical cannabis oil to Cann Farm Peru S.A.C.
Cann Farm Peru is a Lima-based producer and distributor serving Peruvian and other markets in Latin America.
“This first import into Peru demonstrates the versatility of our GMP certified platform that qualifies MediPharm Labs to export high THC and CBD formulated oils into international medical markets where cannabis is regulated like other pharmaceutical products,” said Keith Strachan, President and Interim Chief Executive Officer, MediPharm Labs.
“We look forward to expanding our presence in Peru and other Latin American markets like Brazil where we have agreements in place and are awaiting final permits to import our pharmaceutical quality products to patients and physicians looking for products they can trust.”
MediPharm Labs' cannabis concentrate will be distributed to patients through pharmacies in Peru that will complete the final formulation and fill to exact prescription specification.
“Since Peru’s initial cannabis legalization, patients have predominantly had accessed to CBD in the absence of a steady supply of legal THC.
This initial shipment will provide Peru’s growing patient base with access to formulated THC medicines that have a high degree of quality and control. Bringing high-quality THC into the country will also open many doors in the healthcare sector,” says Andrés Vazquez, President of Cann Farm.
“Providing a consistent supply of high-quality THC will allow physicians to prescribe cannabis oils to address a wider range of therapeutic needs, versus mainly CBD dominant oils, including pain management.”
MediPharm Labs is creating footholds in pharmaceutical, medical and wellness markets around the world including Australia, New Zealand, Germany, Denmark, U.K., Peru and Brazil.
Peru, Latin America’s fifth-largest country, offers high growth potential. Peru was an early mover among Latin American countries creating a legal framework for producing, importing and selling cannabis for medical use. Peru’s market offers the potential to register varied formats of cannabis-based products.
in October 2017, Peru began allowing access to medical cannabis. The law explicitly allows domestic production, importation and commercialization of cannabis for medical and scientific purposes. Only certified pharmaceutical laboratories can apply for a production license domestically and retail sales occur only in licensed pharmacies. Physician prescriptions are required and multiple medical conditions can be prescribed cannabis.
Cann Farm is dedicated to cultivating and processing medicinal plants under the highest quality standards and developing from them a broad portfolio of innovative products for the health and well-being of the international community.
MediPharm Labs specializes in the production of purified, pharmaceutical-quality cannabis oil and concentrates and advanced derivative products utilizing a Good Manufacturing Practices certified facility with ISO standard-built clean rooms.
MediPharm Labs Corp. (LABS) is down 2.11 per cent, trading at C$0.465 per share at 10:45 am ET.