MediPharm Labs Receives Export Authorization to Ship Medical Cannabis to Brazil
Medical marijuana is not legal in the Brazilian state of Goias. But that is about to change. MediPharm Labs has been authorized to ship cannabis to the state.
MediPharm Labs Inc., a cannabis-focused biotech and medical research company based in British Columbia, has received export authorization from Health Canada to ship medical cannabis to Brazil. The company’s Brazilian subsidiary, Brasil Pharma, is now authorized to engage in all activities required to import, market, sell, and distribute medical cannabis to Brazilian patients. MediPharm is the first publicly traded company in Canada licensed to export medical cannabis for therapeutic use.
MediPharm Labs Corp. (TSX: LABS) (OTCQX: MEDIF) (FSE: MLZ) (“MediPharm Labs” or the “Business”), a cannabis-focused pharmaceutical company, is delighted to announce that it has been granted permission to export medical cannabis oil to Brazil. This approval from both ANVISA and Health Canada enables the Company’s partner XLR8 to begin shipping to patients. The shipment marks a significant step forward for the Company in its use of its pharmaceutical GMP platform for worldwide production and distribution.
In September 2020, the Company and XLR8, a value-added distributor headquartered in Curitiba that serves Brazil, signed a deal. The two-year deal will begin when ANVISA’s Sanitary Product Authorization is granted, which is anticipated later this year. A variety of medicinal oil SKUs, such as balanced and high CBD formulations, will be available for registration. This first authorized delivery goes straight to patients as part of the compassionate care program, enabling XLR8 to begin medicinal cannabis research. This initial shipment clears the door for future approved product distribution possibilities. Brazil is one of the most promising medicinal cannabis markets in Latin America.
“MediPharm Labs is committed to providing pharmaceutical-grade medicinal cannabis products to patients all around the globe. We can only accomplish this objective with excellent partners like XLR8, who have local country expertise,” stated Keith Strachan, President and Interim CEO of MediPharm Labs.
”Clinical research development is a strategic route to offer significant clinical data to assist doctors in making proper patient care choices, and cannabis is a genuine alternative, according to our business pillars. XLR8 BRAZIL CEO and Founder Thiago Callado said, “Our clinical research adheres to all national and international ethical norms, showing our commitment to offer all required resources to our patients.”
In the next months, the Company expects to announce further completed deliveries to Brazil.
MediPharm Labs is a company that specializes in pharmaceutical research and development.
MediPharm, a pharmaceutical business founded in 2015, specializing in the research and manufacturing of pure, pharmaceutical-quality cannabis concentrates, active medicinal components, and innovative derivative products in a GMP-certified facility with ISO-certified clean rooms. For delivery of clean, trustworthy, and precision-dosed cannabis products to its clients, MediPharm has invested in an experienced, research-driven staff, cutting-edge technology, downstream purification methods, and purpose-built facilities with four main extraction lines. MediPharm formulates, develops (including via sensory testing), processes, packages, and distributes cannabis extracts and sophisticated cannabinoid-based medicines to domestic and foreign markets through its wholesale and white label platforms. MediPharm, as a worldwide leader, has completed commercial exports to Australia and the commercialization of its Australian extraction plant, which began generating income in H1 2020. In 2017, MediPharm Labs Australia was founded.
A Word of Caution About Forward-Looking Information:
Within the context of relevant Canadian securities laws, this press release includes “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”). Except for historical facts, all comments are forward-looking statements based on assumptions, estimates, and projections as of the date of this press release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events, or performance (often but not always using phrases like “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends”) Forward-looking statements in this news release include, among other things, statements about the growth of the Brazilian patient market, opened regulatory pathways for future opportunities, providing pharmaceutical-grade medical cannabis products to patients around the world, and additional deliveries to Brazil in the coming months. Forward-looking statements must be based on a number of estimates and assumptions that, while reasonable, are subject to known and unknown risks, uncertainties, and other factors that could cause actual results and future events to differ materially from those expressed or implied in such forward-looking statements. General business, economic, competitive, political, and social uncertainties; MediPharm Labs’ inability to obtain adequate financing; the delay or failure to receive regulatory approvals; and other factors discussed in MediPharm Labs’ filings, which can be found on the SEDAR website at www.sedar.com. Actual results and future events may vary significantly from those anticipated in such statements, therefore there can be no guarantee that such statements will prove to be correct. As a result, readers should not put excessive reliance on this press release’s forward-looking statements and information. MediPharm Labs takes no responsibility to update the forward-looking statements of views, opinions, forecasts, or other variables if they change, unless required by law.
XLR8 provided all XLR8-related information for inclusion in this news release.
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