MGC Pharma has become the first company to ship formulations containing THC directly to patients in Brazil through its supply and distribution agreement with ONIX.
MGC Pharmaceuticals Ltd (ASX: MXC), a European-based cannabinoid biopharma company has successfully completed the first shipments of its Mercury Pharma line directly to patients in Brazil through its binding supply and distribution agreement with Brazil-based ONIX Empreendimentos e Participações.
The shipment makes MGC Pharma has become the first company globally to ship high-THC formulations directly to patients in Brazil, without them having to visit a pharmacy first.
MGC Pharma has shipped its affordable range of cannabinoid medicines, under the Mercury Pharma branding, via Brazil's Compassionate Use Program following the receipt of patients' prescriptions provided by an ONIX referring doctor.
ONIX currently has more than 100 referring doctors in Brazil able to prescribe cannabinoid products under the Compassionate Use Program with plans to have over 300 referring doctors by the end of this year, and over 1,000 by mid-2021.
With over 210 million people, Brazil represents a promising market for MGC Pharma. The country's National Healthcare Expenditure is estimated to be A$267 billion, with total pharmaceuticals expenditure estimated at A$24 billion per year.
Currently, there are 10,000 patients in Brazil currently registered to receive cannabinoid medicines and only 350 doctors out of more than 500,000 doctors across Brazil currently authorized to prescribe cannabinoid products.
ONIX is implementing a range of initiatives to mitigate the low prescriber numbers in Brazil, and to raise greater awareness of the benefits of cannabinoid medicines to healthcare professionals throughout the country.
I am delighted to be able to announce that we have successfully shipped our Mercury Pharma THC line of products to Brazil. Roby Zomer, Co-founder and Managing Director of MGC Pharma,
Roby Zomer, Co-founder and Managing Director of MGC Pharma, commented: "This is an incredible achievement as no other company has shipped high THC formulations directly to patients in Brazil before. We have been working closely with our Brazilian partner ONIX and remain confident that Brazil will be a huge strategically and commercially important region for us going forward. Feedback to date from patients in Brazil has been extremely positive and we are seeing rapidly increasing demand for our Mercury Pharma products."
Marcelo Galvão, Founder of ONIX, commented: "We are very happy to make this announcement. It has always been an important part of our strategy to bring high THC products to Brazil. There are more than 30,000 patients currently using homemade oils in Brazil and those patients really need quality products that we now carry with the Mercury Pharma Line."
To learn more about MGC Pharma, visit the company HQ here.
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