Medipharm Labs’ (LABS.C) has agreed to supply premium, pharma-grade cannabis products to with Ottawa region based Hybrid Pharm, but there’s a bit more to this story than just the deal here.
Hybrid Pharm’s unique claim among Canadian pharmacies is that they offer a full in-store experience and consulting like they would with any other drug they sell. Their pharmacists connect with health care practitioners to provide registration and delivery, as well as followups and drug interaction checks and continuous care.
When they initially started bringing cannabis to the pharmacies, they went a little further.
Medical cannabis is best when its dispensed by pharmacists who know what they’re doing, and possess both the equipment and the information regarding strains, dosage forms and side effects. Hybrid considered this when they started establishing their presence in the marketplace, and offered patient workshops and seminars that were (and are) attended by patients of all experience levels.
Hybrid contends that this in-store approach is the way pharmacies are going to handle medical cannabis the future.
“Patients deserve an outlet to discuss their medical needs. Recreational cannabis stores are not qualified to provide medical advice. As a full-service pharmacy dedicated to patient safety, we have very deliberately chosen to carry only trusted cannabis products that we can recommend with confidence and that’s exactly why we sought out Medipharm Labs as a supplier. Not only do they meet all of the qualifications we look for including GMP-certified production processes, their state-of-the-art facility is right here in Ontario which means reliable supply of branded formulations for our rapidly growing patient base. We look forward to a long and productive relationship.”” says Dr. Rahim Dhalla, chief executive officer of Hybrid Pharm.
Health Canada estimates that the number of medical cannabis patients will increase to 450,000 by 2024. Last year, The Ontario College of Pharmacists made cannabis education mandatory for pharmacists in the wake of legalization of recreational edibles. The regulatory body gave its members until March 27, 2020 to finish an accredited course on how to handle what has essentially been a curious situation in terms of patient information.
According to the college, patients should be able to rely on their pharmacist to be able to educate and assist them in making the best decisions regarding their care when it comes to meeting their needs or health goals. That’s not an unrealistic assumption. Pharmacists are usually the most accessible health care providers for patients, and that brings an opportunity to provide the necessary support and education related to cannabis as it pertains to the patients overall pharmacy-care, and intended outcomes. Having them actually know what they’re talking about is helpful.
“Medical cannabis users value the brand-name, pharma-quality products that Medipharm Labs provides through our GMP-certified Canadian production facility, but they also crave the touch that only pharmacists and their staff can deliver and that’s what patients receive at Hybrid Pharm. We believe Hybrid Pharm’s approach to patient care aligns perfectly with our own philosophy and we are delighted to be chosen as a key supplier,” said Pat McCutcheon, chief executive officer of Medipharm Labs.
Over the course of the renewable one-year agreement, Medipharm will provide its own CBD25:5 release formula, CBD50 plus formula and branded vaporizers to be sold by Hybrid.