Market Herald logo


Be the first with the news that moves the market

MGC Pharmaceuticals rose 19.1 per cent today after signing a Chinese e-shop distribution deal today with Chinese digital market platform YuShop Global.

MGC is a European pharmaceuticals company producing CBD (Cannabidiol) health products.YuShop will sell the company’s nutraceutical CBD and hemp-based range to Chinese consumers.

YuShop’s platform boasts 1,500 retail partners. MGC projects over 350 million vitamin and supplements consumers will purchase over US$20 billion of vitamins and supplements in 2020.

Nutraceutical products are commonly regulated as dietary supplements in most countries. YuShop operates a platform that connects global vendors in the wellness and health market to mainland Chinese consumers online.

YuShop CEO Nathan Halsey says MGC’s company vision will influence a CBD product demand in China.

“Where most CBD brands today are limited to CBD oil tinctures and gel capsules, MGC Pharma’s expanded line of CBD-infused Protein Powders, Multi-Purpose Vitamins, and Nutraceuticals are not only advanced for the UK and North American markets, they are in a category of their own currency in China,” he said.

MGC’s range includes Hemp protein powder, CBD capsules, CBD water soluble solution and a CBD vaporiser pen.

CBD products are part of an emerging cannabis-based health product market. CBD products are commonly used for mitigating anxiety disorders, pain and seizure symptoms.

A full-scale marketing and sales campaign are scheduled for June later this year.

MGC Managing Director Roby Zomer says this deal is a key step in commercialising MGC products globally.

“The recently announced permit approval for the United Kingdom and first formal sales orders received from the UK and Australia for CannEpil, that targets the treatment of drug-resistant refractory epilepsy, demonstrates our delivery on and commitment to this strategy,” he said.

Please see the announcement here

MXC by the numbers
More From The Market Herald
Kleos Space (ASX:KSS) - CEO, Andrew Bowyer

" Kleos Space (ASX:KSS) to build and launch Observer Mission

Kleos Space (KSS) has signed new contracts with satellite builder Innovative Solutions in Space (ISISPACE) and global launch services provider, Spaceflight.

" Alterity Therapeutics (ASX:ATH) expands clinical development program

Alterity Therapeutics (ATH) is expanding the phase two clinical development program for its lead asset ATH434 in patients with Multiple System Atrophy (MSA).
Althea Group (ASX:AGH) - CEO, Joshua Fegan

" Althea Group (ASX:AGH) hits new high in sales receipts

Althea Group (AGH) brought in a new high of $4.5 million in customer receipts over the recently completed September quarter.
Singular Health Group (ASX:SHG) - Chief Operating Officer, James Hill

" Singular Health (ASX:SHG) collaborates with CSIRO and Osteopore (ASX:OSX)

Singular Health Group (SHG) will collaborate with CSIRO and Osteopore (OSX) for an artificial intelligence (AI) based tool to make patient-specific 3D cranial