MediPharm Labs has announced the completion of its bottled cannabis topicals from its GMP-certified Barrie Facility
MediPharm Labs Corp. (TSX: LABS), a global leader in specialized, research-driven pharmaceutical-quality cannabis extraction, distillation and derivative products, today announced it has completed its first shipment of bottled cannabis topicals under a contract manufacturing agreement. The Company also announced it is accelerating its research and development program to expand the Company's presence in the growing Canadian, and future international, medical and adult-use topicals markets.
We're pleased to be working with our brand-name customers in the field of topicals, a key product category under legalization 2.0 and for MediPharm Labs' customers.Pat McCutcheon, Chief Executive Officer, MediPharm Labs
First Topical Shipments
Leveraging the Company's 25,000 sq. ft. licensed space, the Company completed its first shipment of topicals from its GMP-certified Barrie facility this week including the filling and packaging on behalf of its customer. The topicals, shipped yesterday, will be distributed to final medical or adult-use purchasers directly by the customer.
"We're pleased to be working with our brand-name customers in the field of topicals, a key product category under legalization 2.0 and for MediPharm Labs' customers," said Pat McCutcheon, Chief Executive Officer, MediPharm Labs. "We completed our first topical unit shipment direct to our customer earlier this week. As we continue to evolve our platform and add expertise in the area of topicals, we will be able to forge new agreements that will engage more of our capabilities including innovation services that extend customers' product solutions."
The Company's focused R&D effort is dedicated to creating base compounds that are the foundation of cannabis topicals such as lotions, salves, gels and creams. The Company would look to commercialize its in-house developed compounds initially within Canada, and then in other international markets where permissible.
"Following Cannabis 2.0 legalization in Canada, it's clear there is demand for cannabis topicals. We also expect worldwide demand for topicals could increase as new cannabis markets start to come online and legalize concentrate based products. With our GMP-certified platform, and deep scientific resources, MediPharm Labs is capable of creating novel, high-quality, high-potency base compounds that our customers and medical and adult-use consumers can trust," said Pat McCutcheon, Chief Executive Officer, MediPharm Labs. "Today's announcement that we've formed and accelerated our very own topicals R&D program should be interpreted for what it is: a clear sign that we can and will do more to innovate and drive our growth and presence in this important and growing space."
To learn more about MediPharm Labs, visit the company HQ here.
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