- MGC Pharmaceuticals (MXC) has received an 85 per cent increase in its January order volume over the past week
- In just one week, orders for the biopharma's Mercury Pharma products have increased from 2000 to 3700 units
- The Mercury Pharma brand launched last month and was developed to deliver cost-effective cannabidiol medicines
- The company expects the increased orders will deliver over $430,000 in short term revenue
- MGC Pharma is up a slight 1.85 per cent with shares trading for 2.8 cents each
MGC Pharmaceuticals (MXC) has received an 85 per cent increase to its January purchase order volume over the past week.
In just one week, the biopharma company's orders have increased from 2000 to 3700 units for the immediate production and delivery of its Mercury Pharma line of prescription products.
The Mercury Pharma brand launched last month. It was developed to deliver a cost-focused medicine for Australian and New Zealand patients. In such a small time frame it has already received strong patient demand.
The first product of the brand was the MP100 — a 100mg/ml cannabidiol (CBD) solution.
The increased 3,700 unit order for Mercury Pharma and white-label products will deliver over $430,000 in short term revenue.
All products will be prescribed by health care professionals in Australia and New Zealand, distributed by Australian specialist Cannvalate, and several other distribution partners in New Zealand.
"Upon delivery to patients in the coming weeks, we will see a more than doubling of current total MGC Pharma medicines prescribed to date to over 4500, which we expect to grow rapidly over the coming months," Co-founder and Managing Director Roby Zomer said.
MGC Pharma is up a slight 1.85 per cent with shares trading for 2.8 cents each at 12:16 pm AEDT.