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- MediPharm and ADREXpharma proceed to paved the way addressing rising affected person demand within the burgeoning German Medical Hashish Market that noticed gross sales improve 34% final yr
- 128,000 energetic sufferers at finish of 2020; German sufferers spent a median of $500EUR monthly, completed merchandise and extract gross sales proceed to realize market share
- MediPharm and ADREXpharma on monitor to ship subsequent shipments to Germany in Q2 2021, accomplished first shipments in Q1 2021
- ADREXpharma is Germany’s largest unbiased privately owned Medical Hashish firm with deep pharma market experience.
TORONTO, June 08, 2021 (GLOBE NEWSWIRE) — MediPharm Labs Corp. (TSX: LABS) (OTCQX: MEDIF) (FSE: MLZ) (“MediPharm” or the “Firm”), a worldwide chief in specialised, research-driven pharmaceutical-quality improvement and manufacture of hashish API and spinoff merchandise, is happy to announce that it has prolonged its provide settlement (the Settlement) with ADREXpharma® GmbH (“ADREX”), a number one developer and distributor of medicinal hashish within the European market. The Settlement was renewed for five years, to June 2026, with a mutual choice to increase additional.
MediPharm provides ADREX with prime quality, purity assured, THC and CBD hashish merchandise on the market and distribution in Germany to roughly 19,000 pharmacies that might present entry to hashish merchandise over time.
Over the previous yr, with the assist of ADREX, MediPharm has firmly established its presence and foothold in Germany because the go-to-supplier of hashish merchandise and regulatory chief within the subject of hashish for pharmaceutical corporations. MediPharm and ADREX pioneered and progressed German regulatory acceptance of EU GMP hashish API and completed dosed merchandise from Canada and Australia.
Because of this, MediPharm efficiently accomplished its first cargo of hashish product to ADREX in Q1 2021 and is on monitor to ship its subsequent shipments to Germany in Q2 2021.
“With our world platform function constructed to good manufacturing practices, MediPharm has established a robust foothold within the nascent, however burgeoning, German hashish market,” stated Keith Strachan, President and Interim CEO, MediPharm. “Our collaboration with ADREX has been an vital and strategic step in our development on this engaging market. We’ll proceed to work collectively, combining ADREX’s expertise and native networks with our licences, manufacturing and provide chain capabilities, to make sure German sufferers acquire entry to the high-quality hashish merchandise they will belief.”
“We’re excited having launched the primary merchandise produced by MediPharm within the rising German market and to increase our worldwide footprint with this strategic collaboration,” stated Mario Eimuth, Founding Companion, ADREXpharma. “Our mission is to serve and supply one of the best therapeutical choices to all sufferers in want in Germany. MediPharm is a number one world producer of medical hashish merchandise and we’re trying ahead to increasing our partnership even additional within the subsequent coming months so as to meet the growing demand within the German market.”
Germany has turn into Europe’s largest market with a affected person base that has grown to 128,000. This helped drive Germany’s medical hashish market gross sales up 34% in 2020. Additionally, based on Prohibition Companions newest European report, Germany’s affected person base is predicted to proceed to extend as improvement of the medical hashish system remains to be ongoing, with the streamlining of wholesale pricing laws being an vital subsequent step. The market can be anticipated to proceed to maneuver in direction of extra extract-based drugs as an alternative of flower-based merchandise.
About ADREXpharma
ADREXpharma® GmbH is an unbiased German pharmaceutical firm which is specialised within the improvement and distribution of medicinal hashish within the European market. ADREXpharma developed a number of dosages (extracts, powder, resin, flowers) for the rising pharma market in Germany. Attributable to its distinctive provide community, ADREXpharma serves the entire approximate 19,000 pharmacies in Germany and is market-leader in pharmacies for a number of product classes. ADREXpharma is dedicated to high quality, authenticity and innovation, in addition to to contributing to the rising physique of evidence-based analysis relating to the advantages and efficacy of hashish to validate new remedy choices for sufferers. ADREXpharma goals to supply the absolute best remedy for medical hashish sufferers – at the moment and all the time.
About MediPharm
Based in 2015, MediPharm specializes within the improvement and manufacture of purified, pharmaceutical-quality hashish concentrates, energetic pharmaceutical elements (API) and superior spinoff merchandise using a Good Manufacturing Practices licensed facility with ISO standard-built clear rooms. MediPharm has invested in an professional, analysis pushed staff, state-of-the-art know-how, downstream purification methodologies and purpose-built services with 5 major extraction strains for supply of pure, trusted and precision-dosed hashish merchandise for its clients. By means of its wholesale and white label platforms, MediPharm formulates, develops (together with by means of sensory testing), processes, packages and distributes hashish extracts and superior cannabinoid-based merchandise to home and worldwide markets. As a worldwide chief, MediPharm has accomplished business exports to Australia and accomplished commercialization of its Australian extraction facility which generated its first revenues in H1 2020. MediPharm Australia was established in 2017.
Cautionary Notice Relating to Ahead-Trying Data:
This information launch accommodates “forward-looking info” and “forward-looking statements” (collectively, “forward-looking statements”) throughout the that means of the relevant Canadian securities laws. All statements, aside from statements of historic truth, are forward-looking statements and are primarily based on expectations, estimates and projections as on the date of this information launch. Any assertion that includes discussions with respect to predictions, expectations, beliefs, plans, projections, aims, assumptions, future occasions or efficiency (usually however not all the time utilizing phrases resembling “expects”, or “doesn’t count on”, “is predicted”, “anticipates” or “doesn’t anticipate”, “plans”, “price range”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such phrases and phrases or stating that sure actions, occasions or outcomes “could” or “may”, “would”, “would possibly” or “will” be taken to happen or be achieved) aren’t statements of historic truth and could also be forward-looking statements. On this information launch, forward-looking statements relate to, amongst different issues, the profitable efficiency of the settlement as deliberate; delivering subsequent shipments to Germany in Q2 2021; having a robust foothold within the nascent, however burgeoning, German hashish market; having a foothold in Germany because the go-to-supplier of hashish merchandise and regulatory chief within the subject of hashish for pharmaceutical corporations; development within the German market; and development of the German hashish market. Ahead-looking statements are essentially primarily based upon a variety of estimates and assumptions that, whereas thought of cheap, are topic to recognized and unknown dangers, uncertainties, and different components which can trigger the precise outcomes and future occasions to vary materially from these expressed or implied by such forward-looking statements. Such components embrace, however aren’t restricted to: common enterprise, financial, aggressive, political and social uncertainties; the shortcoming of MediPharm to acquire sufficient financing; the delay or failure to obtain regulatory approvals; and different components mentioned in MediPharm’s filings, out there on the SEDAR web site at www.sedar.com. There will be no assurance that such statements will show to be correct, as precise outcomes and future occasions may differ materially from these anticipated in such statements. Accordingly, readers mustn’t place undue reliance on the forward-looking statements and knowledge contained on this information launch. Besides as required by regulation, MediPharm assumes no obligation to replace the forward-looking statements of beliefs, opinions, projections, or different components, ought to they alter.
All info contained on this press launch with respect to ADRES was provided by ADREX for inclusion herein.
For additional info, please contact: Laura Lepore, VP, Investor Relations Phone: +1 416.913.7425 ext. 1525 E-mail: buyers@medipharmlabs.com Web site: www.medipharmlabs.com
