MediPharm Labs Corp’s (OTCMKTS:MEDIF) Australia subsidiary MediPharm Labs Corp recently signed a supply agreement with multi-country operator IM Cannabis Corp’s (NASDAQ:IMCC) subsidiary Adjupharm GmbH. The companies signed an initial supply deal for two years with an option of a two-year extension.
The agreement will be subject to the company fulfilling applicable import and regulatory requirements, and then MediPharm Labs can supply medical cannabis products and formulations. This will enable Adjupharm to launch a new IMC0-branded extracts category in Germany. The product range will include high TCH formulations, balanced THC, and CBD products that will launch in Germany in 2H 2021.
MediPharm completes the first shipment to Peru
The company recently announced that MediPharm Labs had completed the first shipment of premium, formulated cannabis oil to Cann Farm Peru, its customer based in Lima for distribution in Latin America. MediPharm Labs’s interim CEO and President Keith Strachan said that this is their first import to Peru, demonstrating its versatility with its GMP-certified platform qualifying to export CBD THC formulated oils. Strachan said they are looking forward to expanding their presence in Peru and Latin American markets.
Also, MediPharms Labs announced that it completed the first cannabis oils shipment to Germany approved by the Australian TGA. Following the export, patients in Germany can now access GMP-certified premium cannabis through MediPharm Labs German distribution partners. It is vital to note that only companies with Good Manufacturing Practices certification are allowed to export cannabis into the German market. Very few companies have been successful in trying to export cannabis oils to German.
MediPharms Labs Australia CEO Warren Everitt said that this is the first sales and shipment to Germany, marking entry into the international pharmaceutical industry in Europe.
MediPharm to begin first sales in Germany
The company and STADA Arzneimittel AG commenced sales in Germany, and patients in Germany will now access GMP-certified quality medical cannabis via STADA through local pharmacies under the CannabisSTADA brand distributed through STADAPHARM. Strachan said that this is the start of a meaningful long-term partnership dedicated to delivering the unique benefits of medical cannabis to patients.