MGC Pharma ships first Mercury Pharma THC products to Brazil
Health & Biotech
Health & Biotech
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MGC Pharmaceuticals (ASX:MXC) has shipped its Mercury Pharma THC cannabinoid products to Brazil for the first time under the South American country’s compassionate use program for medicinal cannabis.
The shipments are a major milestone for the company as it is the first to supply high THC formulated products to Brazil, a strategically important pharmaceutical market valued at $24bn per year. THC is the psychoactive compound in cannabinoid products.
“This is an incredible achievement as no other company has shipped high THC formulations directly to patients in Brazil before,” said MGC Pharma co-founder and chief executive, Roby Zomer.
“Feedback to date from patients in Brazil has been extremely positive and we are seeing rapidly increasing demand for our Mercury Pharma products,” he said.
New patients in Brazil are registering to receive MGC Pharma products after their first delivery, producing immediate cashflow and new sales for the Europe-based company.
Brazil-based ONIX Empreendimentos e Participações is MGC Pharma’s distribution partner for the full line of Mercury Pharma products in the South American country, ranging from pure CBD (MP100) through to different THC ratios up to pure THC products (MP25).
ONIX can deliver Mercury Pharma high THC formulation products direct to a patient’s home in Brazil, without any need to visit a pharmacy, under Brazil’s compassionate use program for medicinal cannabis.
“It has always been an important part of our strategy to bring high THC products to Brazil,” ONIX founder, Marcelo Galvão, said.
“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,” he said.
The Brazilian company is an established distributor of phytocannabinoid products in the country under its ONIXCANN brand.
ONIX has an innovative digital telemedicine platform, Canteramed, that links patients with medical professionals and facilitates safe and legal access to phytocannabinoid products.
ONIX has a network of more than 100 referring doctors in Brazil who can prescribe cannabinoid products to patients, and is expanding to 300 referring doctors by year end, and 1,000 by mid 2021.
These initiatives are expected to drive market awareness for cannabinoid products in Brazil.
Brazil joins Russia and the UK in receiving MGC Pharma cannabinoid products under recent supply deals with these countries, in addition to the company’s established markets in Australia, Europe and North America.
MGC Pharma last week launched an app for patients of its cannabinoid medicine products, CannEpil, which is available through Apple’s App Store and Google Play and the company’s website.