MediPharm Labs Receives Australian Licence to Import Drugs

BARRIE, Ontario, Jan. 31, 2020 (GLOBE NEWSWIRE) -- MediPharm Labs Corp. (TSX: LABS) (OTCQX: MEDIF) (FSE: MLZ) (“MediPharm Labs” or the “Company”) a global leader in specialized, research-driven cannabis extraction, distillation, purification and cannabinoid isolation, is pleased to announce the receipt of a key importation licence for its Australian business. This licence is a critical step to building the Company’s international supply chain that will be used to create additional synergies between MediPharm Labs’ Canadian and Australian operations.

The Australian Department of Health, Drug Control Section has issued an import licence to MediPharm Labs Australia Pty. Ltd. (“MediPharm Labs Australia”), a subsidiary of MediPharm Labs, for the importation of drugs listed in Schedule 4 of the Customs (Prohibited Imports) Regulations 1956, which includes cannabis, cannabinoids and cannabis resin. Upon the receipt of the applicable import permits, this licence will allow for the importation of cannabis, cannabinoids and cannabis resin from MediPharm Labs in Canada, and other global authorized exporters, for finalization into tinctures and other product forms in Australia.

“Receiving this licence is an important milestone as we continue to build a multi-jurisdictional GMP-certified pharmaceutical-quality platform to serve the world’s most attractive medical cannabis markets”, said Pat McCutcheon, Chief Executive Officer of MediPharm Labs. “With the initial phases of our Australian facility built-out, we are on track to establishing a global cannabis supply chain leveraging our GMP-certified Canadian facility, technology and access to high quality, fully traceable, cannabis biomass converted to pharma quality concentrates in Canada, to supply MediPharm Labs Australia, its local market, and other permissible global jurisdictions.” 

Upon MediPharm Labs Australia receiving its GMP certificate from the Therapeutic Goods Association (“TGA”), the Company will be positioned to leverage a global supply chain to sell cannabis APIs and finished products to countries across the EU, including Germany, due to a Mutual Recognition Agreement between Australia and the EU.

Australia is one of the 49 member countries of Pharmaceutical Inspection Co-operation Scheme (PIC/S), TGA GMP certification could also allow for the easier movement of global product. For example, in Brazil, where new cannabis regulations will be effective April 2020, the Agência Nacional de Vigilância Sanitária (ANVISA) has stated that PIC/s approved cannabis facilities will be permitted to import medical cannabis into the Brazilian market. This recognition will be in effect until 2022 at which time ANVISA will develop their own GMP certification program for international cannabis imports.