European Pharmaceutical Company STADA and MediPharm Labs Begin First Sales in Germany Under Exclusive Agreement

BARRIE, Ontario, April 01, 2021 (GLOBE NEWSWIRE) -- MediPharm Labs Corp. (TSX: LABS) (OTCQX: MEDIF) (FSE: MLZ) (“MediPharm Labs”) a global leader in specialized, research-driven pharmaceutical-quality cannabis extraction, distillation and derivative products, today announced STADA Arzneimittel AG (STADA), a leading European consumer health and generics company, and MediPharm Labs, under an exclusive, turnkey supply agreement, have commenced sales in Germany. As a result, patients in Germany are now able to access GMP-certified quality medical cannabis from STADA through local pharmacies under the brand – CannabiSTADA, distributed through STADAPHARM, a direct subsidiary of STADA.

“This is the beginning of a meaningful long-term partnership dedicated to bringing the unique benefits of GMP-certified medical cannabis to patients in Europe,” said Keith Strachan, President and Interim Chief Executive Officer, MediPharm Labs. “Based on our first deliveries under this portfolio agreement, we are ramping up new products that German patients suffering from chronic pain can count on to meet their individual personalized therapeutic needs.”

At full launch in 2021, MediPharm Labs will provide STADA with eight differentiated products including three specialized cannabis extract formulations with different THC and CBD concentrations.

Since entering this agreement in October 2020, together, the partners developed a launch strategy for Europe beginning first in Germany - a growing market. MediPharm Labs created and manages the entire supply chain responsible for sourcing, qualifying, manufacturing, labelling and delivering the very best medical cannabis to STADA in Germany. Now STADA is leading the way in medical education, marketing and sales using its extensive field force.

Based on sales volumes, STADA is the largest German pharmaceutical company active in the cannabis market.

“Medical cannabis represents a promising addition to STADA’s portfolio for patients whose established therapies no longer work sufficiently to address pain and suffering,” said Eleco Ockers, Head of STADA in Germany. “We have decided to make a long-term investment in this growing pharma market, in partnership with MediPharm Labs, providing physicians, pharmacies and patients with carefully formulated solutions they can trust.”