- MediPharm Labs (TSX:LABS) signs an agreement with Laboratório Teuto to offer two products in the Brazilian cannabis market
- Initial shipments are expected in early 2025
- MediPharm develops and manufactures pharmaceutical-quality cannabis concentrates, active pharmaceutical ingredients and advanced derivative products
- MediPharm Labs stock has given back 7.14 per cent year-over-year and 98.29 per cent since 2020
MediPharm Labs (TSX:LABS), a medical cannabis stock, has signed an agreement with Laboratório Teuto, a pharmaceutical manufacturer and marketer, to offer two products in the Brazilian cannabis market.
Teuto brings over 77 years of medical industry leadership in Brazil, currently producing more than 500 pharmaceutical products annually backed by a national sales force and a substantial distribution network.
Brazil’s ANVISA (Agência Nacional de Vigilância Sanitária) granted Teuto sanitary authorizations on December 30, 2024, for two products manufactured by Medipharm, setting the stage for import and expert permitting with ANVISA and Health Canada and initial shipments slated for early 2025.
According to Wednesday’s news release, Brazil’s cannabis market is one of the most stringent in the world, including a minimum requirement of 12 months of stability testing and quality assurance before a new product reaches the public. These high standards grant the market a strong foundation for growth from its current valuation of $198 million to $260 million by 2026.
Leadership insights
“Globally, we believe that the higher the regulatory bar, the more complex and stringent the quality standards are in a country, the better for MediPharm. Brazil is a perfect example of a large complex market, and we are very fortunate to have a long-term partnership with Teuto, one of the leading Brazilian pharmaceutical companies,” David Pidduck, MediPharm Labs’ chief executive officer, said in a statement.
“Medical cannabis is an important product for our line of specialty care, increasing our relationship with physicians, completing our CNS portfolio and oncology on palliative care. Our partnership with MediPharm will allow Teuto to grow faster in this market, bringing more full-spectrum products with the highest quality to Brazilian patients in need,” added Marcelo Henriques, Teuto’s CEO.
About MediPharm Labs
MediPharm develops and manufactures pharmaceutical-quality cannabis concentrates, active pharmaceutical ingredients and advanced derivative products.
MediPharm Labs stock (TSX:LABS) opened unchanged trading at C$0.065 per share. The stock has given back 7.14 per cent year-over-year and 98.29 per cent since 2020.
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