Aussie momentum building for MGC Pharma amid milestones
Health & Biotech
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Special Report: MGC Pharma has hit a patient milestone in its Australian pharmaceutical operations, and signed up a new partner, as momentum builds.
MGC Pharma (ASX:MXC) this morning told investors that 100 patients had been prescribed or were being processed ahead of receiving a prescription for its medicinal cannabis products CannEpil or MXP100.
A bulk shipment of both products is currently en route to Australia to be prescribed to patients under the Therapeutic Goods Administration’s Special Access Scheme. The products are being distributed in Australia under agreements with Health House and Cannvalate.
MGC has also onboarded a new medicinal cannabis provider in Tetra Health, testament to the quality and cost competitiveness of MGC Pharma’s cannabinoid-derived pharmaceutical products.
Tetra Health assists medical professionals and patients in obtaining safe access to medicinal cannabis products, and will work directly with Health House after adding MGC products to its product range.
The company also revealed that planning is underway to import further MGC pharmaceutical products into Australia during this month, in hopes it will further boost patient numbers.
“To have reached 100 patients now prescribed or being processed to receive our products in a relatively short amount of time is a major milestone,” Roby Zomer, co-founder and managing director of MGC Pharma said.
“We anticipate our number of patients to increase as we broaden our product range available for prescription, and with products in Australia available for immediate supply. Our cannabinoid based pharmaceutical products are of consistent high-quality at an affordable price, and we believe that this is a key differentiator for the company and will encourage prescriptions.”
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Tetra Health chairman Ian Mutton said his company was looking forward to leveraging the MGC brand.
“We are delighted to add MGC Pharma’s cannabinoid medicines to our diverse product offering,” he said.
“Matched with our own 500%+ increase in prescribed patient growth over the last month, this relationship allows us to add much needed medications to our product line to service our diverse patient cohort across Australia and grow with another Australian based supplier of cannabinoid based therapeutics.”