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MGC Pharma (ASX:MXC) - Co Founder and Managing Director, Roby Zomer - The Market Herald
Co Founder and Managing Director, Roby Zomer
Source: FinFeed
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  • Biopharma company MGC Pharmaceuticals (MXC) has signed a distribution agreement with the U.K.'s leading medicinal cannabis provider, LYPHE Group
  • This agreement will see the company provide its EU GMP cannabinoid medicines throughout LYHPE's distribution channels
  • MGC Pharma has already received an initial purchase order of 900 units of its Mercury Pharma line of products
  • This represents a strategically important step for MGC Pharma as it carves a valuable pathway into the U.K
  • Additionally, it places the company in a strong position to achieve its target of 5000 prescriptions per month by Q1 FY21
  • MGC Pharma is up 4.17 per cent on the market and shares are currently trading for 2.5 cents each

Biopharma company MGC Pharmaceuticals (MXC) has signed a distribution agreement with the U.K.'s leading medicinal cannabis provider, LYPHE Group.

This agreement will see MGC Pharma provide its EU GMP cannabinoid medicines throughout LYHPE's distribution channels.

The company has already received an initial purchase order of 900 units of its Mercury Pharma line of products and there are no minimum order volumes required.

However, this order is the largest single order for MGC Pharma into the U.K. to date, and it represents a strategically important step for MGC Pharma as it carves a valuable pathway into the U.K.

Additionally, LYPHE will prescribe and dispense the Mercury Pharma line with the LYPHE labelling to patients at its clinics.

This new agreement and order places MGC Pharma in a strong position to achieve its target of 5000 prescriptions per month by Q1 FY21.

MGC Pharma is up 4.17 per cent on the market and shares are trading for 2.5 cents each at 12:41 pm AEST.

MXC by the numbers
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