MediPharm Labs Launches New Line of High-Quality Branded Products Across Canada - Seite 2

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/26fdab55-6da9-499c ...

Market for MediPharm Labs Products

MediPharm Labs will launch their branded medical and wellness product line through multiple distribution channels to access the approximately 1.1 million Canadians currently using cannabis for medical purposes⁽¹⁾, according to Statistics Canada. The Company understands based off its market research that this customer base represents some of the most frequent users of cannabis and has potential to grow significantly. In a December 2019 Hill & Knowlton national study analyzing cannabis consumer attitudes and behaviours⁽²⁾, 87% of regular cannabis consumers reported that medical and wellness was a factor in their use. Further, the non-psychotropic CBD product category was found to show the most promise with occasional/rare consumer types (30%) and non-users (38%) being significantly more likely to try these non-intoxicating products.

“Whether Cannabis is consumed for prescribed medicinal or wellness reasons, patients and consumers want to feel they can trust their product choices and know they are receiving pure, tested products that are properly dosed for a predictable, consistent experience. As a pharmaceutical-quality manufacturer, MediPharm Labs lives up to this brand promise,” says Mr. McCutcheon.

1. Number and percentage of people reporting non-medical, medical, and both medical and non-medical cannabis use by age group, Canada (provinces only), second and third quarters combined 2019. Statistics Canada, accessible at https://www150.statcan.gc.ca/n1/daily-quotidien/191030/t002a-eng.htm
2. Hill & Knowlton Strategies, Cannabis Consumer Analysis, Dec 2019 - https://hkstrategies.ca/en/cannabis-consumer-analysis/

As previously announced, MediPharm Labs will utilize its proprietary pharmaceutical-quality manufacturing platform, methodologies and scientific data to provide Medical Cannabis by Shoppers with a wide range of concentrate-based products starting with MediPharm Labs CBD REGULAR FORMULA 25.

MediPharm Labs will continue to expand its portfolio of products and develop other derivative products such as gel caps and topicals under its brand name. The Company’s in-house R&D team includes experts in chromatography, minor cannabinoid isolation, and water-soluble cannabinoid technologies to support these efforts.