Join our daily newsletter At The Bell to receive exclusive market insights
- MGC Pharmaceuticals (MXC) has entered an exclusive commercial supply agreement with two Polish companies to supply its products in Poland
- The agreement will set out the terms under which the company will supply its medicinal cannabis products in the country
- Initially, 15 pharmacies will receive the products but MGC Pharma hopes to expand to 50 location within nine months and 250 within two years
- Managing Director Roby Zomer said this is a “unique opportunity for the company to enter a large EU market”
- MGC Pharma has closed in the grey with shares trading for 2.6 cents apiece
MGC Pharmaceuticals (MXC) has entered an exclusive commercial supply agreement with two Polish companies to supply its products in Poland.
The company has partnered with Polish NGO Cannabis House Association and the Forensic Laboratory of the Faculty of Law and Administration of the University of Łódź in Poland to enter this key European market.
The agreement will set out the terms under which MGC Pharma will supply its cannabinoid medicine products to support a large-scale commercial research study.
The study will aim to collect data on medicinal cannabis users and products in Poland.
It will supply cannabis products and collect important study participant data to its registered and regulated cannabis products to 15 pharmacies in Poland.
This number will then expand to 50 within nine months, and full rollout is planned for 250 locations within two years.
MGC Pharma will supply its CannEpil and CogniCann products as well as the Mercury Pharma line.
CannEpil is a high CBD, low THC formula used for treating epilepsy while CogniCann has 3:2 formula of THC to CBD and is used to treat patients with Alzheimer’s.
“We have continued to build momentum this year by adding Poland to the list of countries where our phytocannabinoid-derived medicines are available,” Co-founder and Managing Director Roby Zomer commented.
“The combination of a truly distinctive research project such as this on creates a unique opportunity for MGC Pharma to access a large EU market immediately, drive revenues and generate significant patient data,” he added.
MGC Pharma has closed in the grey with shares trading for 2.6 cents apiece in a $36.46 million market cap.
