MediPharm Labs on track to fulfil supply agreements as the company is granted GMP certification.
MediPharm Labs Corp., (TSX: LABS) a global leader in specialized, research-driven pharmaceutical-quality cannabis extraction, distillation and derivative products, is delighted to announce that its subsidiary, MediPharm Labs Australia Pty. Ltd. has been granted its GMP Certification and Licence to Manufacture Therapeutic Goods, a key milestone in the advancement of the Company's global supply chain strategy and a catalyst for revenue generation in Australia.
MediPharm Labs Australia can now serve as a key link in the Company's international GMP-compliant supply chain complementing our state-of-the-art GMP certified facility in Canada.Warren Everitt, Chief Executive Officer, Asia Pacific, MediPharm Labs
The Licence was granted by the Australian Therapeutic Goods Administration – the branch of the Australian Government's Department of Health responsible for regulating therapeutic goods including prescription medicines, vaccines and medical devices. The TGA is one of 53 regulatory authority members of the Pharmaceutical Inspection Co-operation Scheme (PIC/S), an international co-operative arrangement among regulatory authorities in the field of Good Manufacturing Practice for medicinal products. The PIC/S mission is to lead the development, implementation and maintenance of harmonised GMP standards and quality systems of inspectorates in the field of medicinal products. Many PIC/S members, such as the TGA, also enter into mutual recognition agreements with other PIC/S members whereby each regulatory authority specifically recognizes certain processes and procedures of the other country to expedite the international flow of goods.
The Licence confirms that MediPharm Labs Australia complies with the internationally recognized GMP requirements of the PIC/S Guide for Medicinal Products and allows the manufacture of therapeutic goods intended for export or which are exempt from registration and listing on the Australian Register of Therapeutic Goods under the provisions of Section 18(1) or Section 19 (1)(a) of the Therapeutic Goods Act.
Under the Licence, MediPharm Labs Australia may store cannabis resin as an Active Pharmaceutical Ingredient and may engage in packaging, storage and release for supply as a Medicine Manufacturer of Oral Liquids within its specialized facility in Wonthaggi, Victoria.
"As a GMP-compliant company situated in the emerging Asia-Pacific cannabis market, this is a milestone achievement and essential licence that clears the way for MediPharm Labs Australia to further accelerate supply opportunities, at home and abroad, and begin fulfilling our pipeline of customer orders for finished formulated products," said Warren Everitt, Chief Executive Officer, Asia Pacific, MediPharm Labs. "This Licence is also emblematic of the tremendous duty of care we took in building our capabilities to the high standards required of GMP."
In 2020, MediPharm Labs Australia has secured several medicinal cannabis supply agreements for both Australia and New Zealand reflecting the growing commercial opportunity in these markets. With this licence in place, it expects to ramp up supply of GMP-compliant products and begin the fulfilment of new and upcoming supply agreements upon receiving final product approvals.
"We set out to make MediPharm Labs Australia the first mover in Australia and other quickly emerging Asian-Pacific markets for the production of pharma-quality cannabis products. With this new Licence, we have achieved that and more," said Pat McCutcheon, CEO of MediPharm Labs. "This Licence gives us an invaluable edge in the domestic Australian market by signalling to customers that our Company is the one to align with for the highest quality production. From a global market perspective, the TGA has mutual recognition agreements with various other PIC/S members, which means that products we make in Australia will satisfy requirements certain requirements in those other jurisdictions where we intend to seek import permits for our products. Accordingly, this development has wide-reaching implications for our business."
Construction of the MediPharm Labs Australia facility began in 2018 and was completed in December 2019. Also in December 2019, MediPharm Labs Australia received State Licences for cannabis substances from the Department of Health and Human Services in Victoria, Australia. Under these State Licences, MediPharm Labs Australia is allowed to manufacture, store, and supply cannabis products and medicines and, for research purposes, test cannabis at its facility. MediPharm Labs Australia also has its Cannabis Manufacturing Licence from the Australian Office of Drug Control (ODC) under the Narcotic Drugs Act 1967. MediPharm Labs Australia holds ODC Import and Export Licences, allowing import and export of cannabis resin and extracts, bulk medicinal cannabis oil and finished medicinal cannabis products.
MediPharm Labs Australia was designed to replicate the high-quality standards of the Company's Canadian production facility. It features multi-phase supercritical CO2 extraction equipment, soft gel capsule manufacturing equipment, clean rooms and testing laboratories and has TGA manufacturing approval for labelling and packaging lines.
To learn more about MediPharm Labs, visit the company HQ here.
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