MediPharm Labs Corp., a leader in specialized, research-driven cannabis extraction, distillation and derivative products, is pleased to announce its wholly owned subsidiary, MediPharm Labs Australia Pty Ltd., has entered into a new GMP white-label supply and contract manufacturing agreement with Cannim Australia Pty Ltd. The Company also announced it has commenced registrations for the launch of next generations over-the-counter (OTC) products in Australia in 2021.
“We are excited to partner with Cannim as the demand for high quality and novel formulations for cannabis products continues to rise along with Australia’s growing approved patient population,” said Keith Strachan, President and Interim CEO, MediPharm Labs. “As the go-to provider for new pharmaceutical and health and wellness companies entering the market in Australia, we are realizing the competitive advantage of our GMP-certified manufacturing capabilities and distribution channels to execute on our pipeline of opportunities to win new business.”
Under the three-year agreement, with options to extend, MediPharm Labs Australia will supply a full range of specially formulated CBD and THC cannabis oil products that will be sold initially under Cannim’s Lumir brand. MediPharm Labs Australia will also provide Cannim with contract manufacturing with their starting material.
John Worton, Founder of Cannim, said “We are delighted to have found a partner here in Australia with the capability to manufacture our GACP Jamaican Medicinal Cannabis into high quality, EU GMP standard finished products that can be sold both in Australia and internationally. Our first batch of Lumir tinctures produced at MediPharm Labs will be on sale in Australia this week, with more product for other markets to quickly follow.”
Over-the-Counter Products Legalization in Australia
As a GMP certified platform, MediPharm qualifies to launch the next generation of CBD products that will be available to all 5700 pharmacies across Australia to sell direct-to-consumers without a prescription. MediPharm has commenced its product registration process following the Therapeutic Goods Administration (“TGA”) re-scheduling of CBD in Australia in February 2021. This change in legislation is expected to grow the demand and market size for CBD products in Australia. All OTC products must be manufactured under GMP.
“We are optimistic about our potential in 2021 for many good reasons including regulatory advancements,” said Keith Strachan, President and Interim CEO, MediPharm Labs. “In Australia, the TGA recently reclassified low dosage CBD (150 mg a day) – from Schedule 4 or prescription only to Schedule 3. This means successfully registered cannabis can be sold over the counter. Additionally, TGA has sought industry feedback on the regulation of medicinal cannabis. Proposed reforms include introducing equivalent GMP requirements for imported medicinal cannabis to Australia. The MediPharm team has been instrumental in driving these proposed reforms with a goal to enhance the quality and safety of medicinal cannabis.”
“MediPharm Labs Australia is perfectly positioned to begin manufacturing and fulfilling the demand for this new OTC segment,” said Warren Everitt, CEO Asia Pacific, MediPharm Labs. “We have already seen interest from pharmaceutical companies looking for a GMP certified partner to comply with the TGA minimum requirements and execute on this new growth category.”
Based in Sydney, Australia, Cannim was established in 2017 to bring the benefits of medicinal cannabis to the world. Cannim operates farms in Jamaica and Australia, has established a network of EU GMP manufactures and alliances, delivering a range of branded products to bring relief in many forms to people across the world.
Founded in 2015, MediPharm Labs specializes in the production of purified, pharmaceutical quality cannabis oil and concentrates and advanced derivative products utilizing a Good Manufacturing Practices certified facility with ISO standard built clean rooms. MediPharm Labs has invested in an expert, research-driven team, state-of-the-art technology, downstream purification methodologies and purpose-built facilities with five primary extraction lines for delivery of pure, trusted and precision -dosed cannabis products for its customers.