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Be the first with the news that moves the market- MediPharm Labs (LABS) has extended its reach to the Danish medical cannabis market with two white-label supply agreements
- Under the agreements, MediPharm will provide a full range of specially formulated CBD and THC cannabis oil products
- Denmark granted patients legal access to cannabis-based medicinal products in 2018 as part of a four-year pilot program
- Delivery is expected to begin in October this year, pending regulatory approval
- MediPharm Labs (LABS) is currently up 6.45 per cent and is trading at C$0.99 per share
MediPharm Labs (LABS) has extended its reach to the Danish medical cannabis market with two white-label supply agreements.
Under the agreements, one of which has an initial term of two years while the other has a preliminary one-year term, MediPharm will provide a full range of specially formulated CBD and THC cannabis oil products for further resale.
The companies will be serviced by MediPharm’s GMP-approved facilities, which allow for the sale of cannabis products to countries across the European Union, including Denmark.
Pat McCutcheon, CEO of MediPharm Labs, said 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.
“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,” he added.
Patients in Denmark were granted access to cannabis-based medicinal products at the start of 2018 as part of a four-year pilot program.
According to New Frontier Data and the Danish Ministry of Health, more than 2,100 patients, primarily women between the ages of 42 and 64, received medicinal cannabis products from 429 prescribing doctors under the program in 2019.
MediPharm expects to begin the delivery of its white-label products in October this year, subject to regulatory approval by the local health authorities.
MediPharm Labs (LABS) is up 6.45 per cent and is trading at C$0.99 per share at 12:11pm EDT.
