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MediPharm Labs Corp (MEDIF) is a pharmaceutical company specializing in precision-based cannabinoids. With GMP certification from ANVISA, FDA, EU, and TGA, MediPharm leads in pharmaceutical cannabinoids. They manufacture authorized medical cannabis products in compliance with strict regulations, including products for the Brazilian market under Resolution 327/19. By acquiring VIVO Cannabis, MediPharm expanded its reach to Canada, Australia, and Germany, offering a full suite of cannabis products to domestic and international medical markets.
MediPharm Labs Corp. reported its Q1 2022 financial results, revealing a revenue decline to $4.88 million from $5.50 million in Q1 2021. Despite the drop, the company is expanding its market presence, having entered the U.S. pharmaceutical market with a completed FDA Drug Master File for CBD APIs, and has begun product deliveries to the U.K. and Brazil. The company remains debt-free and holds ownership of key assets. In March 2022, MediPharm completed the acquisition of Shelter Cannabis, enhancing its product portfolio.
MediPharm Labs Corp. (OTCQX: MEDIF) has announced it will release its fourth quarter financial results for the period ending March 31, 2022, on May 16, 2022, before market opening. An audio conference call will take place on the same day at 8:30 a.m. ET to discuss the results and company outlook. MediPharm specializes in the development of pharmaceutical-quality cannabis products and holds a unique Drug Establishment License from Health Canada, enabling compliance with Good Manufacturing Practices.
MediPharm Labs Corp. has appointed David Pidduck as its new CEO and Director, effective April 20, 2022. He replaces Bryan Howcroft, who steps down for personal reasons. Pidduck brings over 20 years of leadership experience in the pharmaceutical sector. Under his leadership, the company aims to enhance its sales pipeline and focus on revenue growth and profitability. He has been awarded stock options and RSUs contingent upon regulatory approvals. MediPharm Labs specializes in high-quality cannabis products and holds a unique Good Manufacturing License in North America.
MediPharm Labs Corp has announced the expansion of its wellness product line by introducing naturally derived cannabigerol (CBG) products and a water-soluble cannabinoid solution. The new products include a CBG:CBD 1:2 oil, named Advanced Formula, and a CBG vape cartridge called Northbound, available in Ontario. With a focus on quality and therapeutic benefits, the company aims to meet the rising demand for cannabinoid products. CEO Bryan Howcroft emphasized the potential for international market expansion, leveraging unique manufacturing licenses and distribution partnerships.
MediPharm Labs (MEDIF) reported its financial results for 2021, showing international sales more than doubling to $9.5 million, contributing 44% of total revenue of $21.7 million. Canadian provincial sales grew 18% to $7.4 million. The company launched new innovative products and expanded its market presence. However, it posted a significant net loss of $54.8 million, and gross profit was negative at $15.2 million. MediPharm maintains a solid financial position with $34 million in cash and no debt.
MediPharm Labs Corp. (OTCQX: MEDIF) will release its fourth quarter financial results for the period ended December 31, 2021, on March 31, 2022. Following this, an audio conference call is scheduled for April 1, 2022, at 8:30 a.m. ET to discuss the outcomes and outlook. MediPharm, a leader in pharmaceutical-grade cannabis concentrates, holds a Drug Establishment License from Health Canada, enabling it to operate under Good Manufacturing Practices. The company's capabilities include extraction and distribution within North America and beyond.
MediPharm Labs has acquired Shelter Cannabis's intellectual property, including its well-known brands and products, to enhance its recreational cannabis portfolio. This acquisition allows MediPharm to leverage its national sales network to expand Shelter's market presence, addressing a CAD 2.6B dried flower category that represents over 70% of Canadian cannabis sales. The transaction is non-dilutive, relying on performance-based payments linked to future sales, minimizing risk for shareholders. Production will move to MediPharm's facility in Barrie, Ontario, optimizing operations and cost efficiencies.
MediPharm Labs has completed a Drug Master File (DMF) for its CBD Active Pharmaceutical Ingredient (API) with the US FDA, allowing it to supply approved APIs to pharmaceutical firms engaged in late-stage research. This move targets a cannabis-based drug market projected to exceed USD $25 billion by 2025, marking MediPharm as the only Canadian company with such FDA approval and the second for natural CBD DMF in North America. The company aims to position itself as a leading supplier and leverage its GMP manufacturing platform to capture market share.
MediPharm Labs Corp. has fully repaid its $41 million unsecured convertible debt, marking a significant milestone in its journey towards profitability. As of December 31, 2021, the company has eliminated all material debt, providing it with a clean balance sheet and strong cash position. This financial stability allows MediPharm to focus on reducing overhead and operating expenses while executing sales contracts. The company owns two GMP facilities in Canada and Australia, enhancing its manufacturing capabilities.
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