Medipharms Labs (LABS.T) and DanCann Pharma A/S entered into a new white-labelling supply agreement today.
The company will draw raw material from both GMP approved facilities, MediPharm labs and MediPharm Labs Australia Pty. This is the third supply agreement for Denmark, expanding its revenue potential in the emerging medicinal cannabis market.
“We continue to build our presence and reputation as an Active Pharmaceutical Ingredient supplier in emerging markets such as Denmark where we are qualified by our GMP-certified production capabilities for medicinal, wellness and adult use applications,” said Pat McCutcheon, CEO, MediPharm Labs.
DanCann Pharma is a medical cannabis company working on researching, manufacturing and commercializing cannabinoids for therapeutic reasons, covering a broad array of disease areas. The company both makes and imports prescription and over-the-counter pharmaceuticals dealing with pain management.
“At DanCann Pharma our vision is clear, to improve the health and quality of life for patients facing challenges and while working to create new cannabis- and cannabinoid-based pharmaceuticals for the future. Our focus on differentiated innovative drug administration systems will enable us to create a leading Scandinavian cannabis- and cannabinoid-based company. Pharmaceutical cannabis- and cannabinoids are an important and exciting industry showing signs of strong growth, increasing interest, and rising popularity – an extremely powerful combination and foundation for industry pioneering companies in Europe. We are very excited about this collaboration with MediPharm Labs, and look forward to soon being able to deliver products to the many Danish, and in the future, Scandinavian patients who seek alternative treatment who have not been successful with conventional medicine,” said Jeppe Krog Rasmussen, founder and CEO, DanCann Pharma.
The agreement has a two year term wherein MediPharm Labs will supply formulated CBD and THC cannabis oil products for white-labelling and distribution.