Medipharm Labs Corp - MEDIF STOCK NEWS

MediPharm Labs (OTCQX: MEDIF) announced the launch of its first wellness products in Quebec, including premium CBD oils, marking a significant expansion in its Canadian operations. This shipment to the Société québécoise du cannabis (SQDC) represents the company's entry into Quebec, its seventh provincial distribution agreement, enabling access to 95% of the retail market in Canada. The company aims to enhance its local presence as the Canadian market begins recovering. MediPharm Labs specializes in high-quality cannabis extraction and has commercial exports to Australia.

MediPharm Labs (OTCQX: MEDIF) reported Q1 2021 results with revenues of $5.5 million, a 9% decline from Q4 2020. International sales rose to $2.1 million, offset by a 40% drop in Canadian sales due to pandemic-related challenges. The company achieved initial sales of GMP-certified products in Germany and entered the Latin American market with shipments to Peru. Notably, MediPharm reduced costs by 30%, improving financial efficiency. Cash reserves stood at $42.1 million as of March 31, 2021, supporting strategic growth initiatives.

MediPharm Labs Corp. (OTCQX: MEDIF) will release its first quarter financial results for the period ended March 31, 2021, before the market opens on May 17, 2021. An audio conference call will follow at 8:30 a.m. ET to discuss the results and outlook. The company specializes in producing pharmaceutical-quality cannabis products and is recognized for its advanced extraction techniques. MediPharm has commercialized its extraction facility in Australia and focuses on research-driven product development.

MediPharm Labs Corp. (OTCQX: MEDIF) has signed a two-year agreement with MT Pharma to supply GMP certified cannabis oil for patient distribution. This agreement underscores MediPharm's growth potential in the international pharmaceutical cannabis market, as they expand their customer base across 9 countries. The company has recently completed exports to Germany, Peru, and Australia, and anticipates further international expansion in 2023, including Brazil and New Zealand. MediPharm Labs emphasizes its commitment to high-quality, pharmaceutical-grade products in a rapidly evolving cannabis marketplace.

IM Cannabis Corp. (CSE:IMCC)(NASDAQ:IMCC) announced a two-year supply agreement with MediPharm Labs to enhance its product offerings in Germany. This agreement allows IMC's subsidiary, Adjupharm, to introduce a new range of IMC-branded extracts, including high THC and balanced THC/CBD oils. The products are expected to launch in the second half of 2021, targeting the growing demand for medical cannabis. The partnership aims to strengthen IMC's position as a leader in the expanding German extracts market while fulfilling patient needs.

MediPharm Labs has successfully exported its high THC medical cannabis to Peru, marking its first shipment to a Latin American country. This step follows successful exports to Australia and Germany. The shipment, handled by Cann Farm Peru S.A.C., aims to provide patients with consistent access to quality THC products, which are essential for addressing varied therapeutic needs.

Peru's medical cannabis market is rapidly advancing, offering significant growth potential for MediPharm Labs as it expands operations into Latin America.

MediPharm Labs has successfully exported its first shipment of medical cannabis oil products to Germany, approved by the Australian Therapeutic Goods Administration (TGA). This achievement marks a significant milestone for both the company and Australia, establishing them as leaders in the global medical cannabis market. With Germany representing an estimated 75% of the EU medical cannabis market, MediPharm Labs aims to continue shipments and innovate its offerings for this valuable market throughout 2021 and beyond.

MediPharm Labs Corp. (OTCQX: MEDIF) has announced the launch of its partnership with STADA Arzneimittel AG in Germany, allowing patients to access GMP-certified medical cannabis products through local pharmacies under the CannabiSTADA brand. The agreement, effective April 2021, includes the supply of eight differentiated products targeting chronic pain management. With an estimated market growth from €150m to €1.5bn by 2025 in Germany, this collaboration marks MediPharm Labs' entry into the European pharmaceutical market. STADA aims to enhance medical education and patient access to these products.

MediPharm Labs (OTCQX: MEDIF) reported its financial results for Q4 and FY 2020, showing a sequential revenue increase of 22% to $6.1 million. Total annual revenue reached $36 million. The company achieved significant cost reductions, totaling over $3.6 million annually, while cash reserves stood at $19.9 million after repaying debts. Despite progress, the company incurred a Q4 net loss before tax of $30.9 million. They have established over 30 international agreements and received a Cannabis Drug License from Health Canada, indicating strong growth in the pharmaceutical cannabis sector.