18/09/2019 - 15:07

MGC grows medical cannabis patient numbers

18/09/2019 - 15:07


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MGC Pharmaceuticals has expanded the number of patients now prescribing for or being processed to receive prescriptions of its medical cannabis-based pharmaceutical products in Australia and the UK to beyond 200. The company said that the key milestone readily demonstrates its strengthening position in those markets to meet the demand for its proprietary standardised, affordable medicines on a global scale.

MGC grows medical cannabis patient numbers

MGC Pharmaceuticals continues to grow its medicinal, cannabis-based pharmaceutical products business globally, recently racking up its 200th patient that has either prescribed for, or is being processed to receive prescriptions of its medical cannabis-based products in both Australia and the UK.

Notably, the company has effectively doubled its number of patients over the last month and the recent milestone appears to underline its strengthening position in those markets.

MGC has managed to create a demand for its proprietary, standardised and remarkably affordable medicines on a global scale within a relatively short period of time.

The company’s products, CannEpil and MXP100 are prescribed in Australia under the Special Access Scheme and in the UK through specialised doctors permitted to prescribe phytocannabinoid-derived medicines under the Early Access to Medicines Scheme.

CannEpil is the company’s high cannabidiol, or “CBD”, and low tetrahydrocannabinol, or “THC”, phytocannabinoid-derived formulation, used in the treatment of drug-resistant epilepsy.

Management also said that Cannabis Access Clinics has recently joined fellow Australian, Tetra Health, as one of the company’s key clinical partners, which will expand the network of medical professionals informed of its available product range.

MGC has a “seed to pharmacy” strategy that closes the loop for its medicinal cannabis products, with the company on track to significantly increase production capacity after recently signing a long-term lease agreement with Maltese Government-owned Malta Industrial Parks Limited, for a 6,000 square metre site to cultivate cannabis plants.

The company has already begun site works for the fully-integrated, multi-storey building that will contain 15,000 square metres of space for the cultivation and manufacture of cannabinoid-derived medicines for its proposed global distribution networks.

Roby Zomer, Managing Director of MGC Pharma said: “Having progressed CannEpil and MXP100 from the Research & Development stages through to commercialisation, we now have a proven process in which we can advance additional standardised, affordable phytocannabinoid-derived medicines.”

“We anticipate the uptake of patients to continue to increase accordingly, providing revenue to invest further in new production and our Research & Development strategies, as well as cementing MGC Pharma has a key player in the medical cannabis sector globally.”

NB: This article is for general financial markets news purposes only and is not to be taken as an endorsement of, or advertisement for any individual product, medicine or drug.

Is your ASX listed company doing something interesting ? Contact : matt.birney@businessnews.com.au


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