MediPharm Labs Corp., a Canada-based provider of cannabis oil and concentrates, said it has completed its first shipment of bottled cannabis topicals under a contract manufacturing agreement.
In addition, the company is accelerating its research and development program to bolster its presence in the growing Canadian and future international medical as well as adult-use topicals markets.
Leveraging its 25,000 sq. ft. licensed space, MediPharm Labs completed its first shipment of topicals from its GMP-certified Barrie facility this week, including the filling and packaging on behalf of its customer. The topicals, shipped on Tuesday, will be distributed directly by the consumer to final medical or adult-use purchasers.
MediPharm Labs noted that cannabis-infused topicals are already legal in its home country of Canada, providing the company an excellent near-term market opportunity.
“Following Cannabis 2.0 legalization in Canada, it’s clear there is demand for cannabis topicals. We also expect worldwide demand for topicals could increase as new cannabis markets start to come online and legalize concentrate based products,” said Pat McCutcheon, Chief Executive Officer of MediPharm Labs.
MediPharm Labs said its R&D effort is focused on creating base compounds that are the foundation of cannabis topicals such as lotions, salves, gels and creams.
The company plans to commercialize its in-house developed compounds initially within Canada, and later in other international markets where permissible.
MediPharm Labs has completed commercial exports to Australia and is currently in the process of commercializing its Australian extraction facility. MediPharm Labs Australia was established in 2017.
In September 2019, MediPharm Labs entered the European medical cannabis market after it signed its first private label sales agreement with German pharmaceutical and medical cannabis distributor ADREXpharma GmbH. MediPharm noted that it is the first extraction-only company with a supply agreement for export to Germany.
For comments and feedback contact: email@example.com