- MediPharm Labs (TSX:LABS), a cannabis pharmaceutical stock, has signed a licensing agreement with Remidose Aerosols to acquire exclusive global rights to its metered dose inhaler and sublingual spray products
- The acquisition diversifies the company’s assets and will imminently enhance revenue
- MediPharm Labs, est. 2015, develops and manufactures purified, pharmaceutical-quality cannabis concentrates, active pharmaceutical ingredients and advanced derivative products for medical markets across the world
- MediPharm stock has added 14.29 per cent year-over-year, but has lost 98.34 per cent since 2019
MediPharm Labs (TSX:LABS), a cannabis pharmaceutical stock, has signed a licensing agreement with Remidose Aerosols to acquire exclusive global rights to its metered dose inhaler and sublingual spray products, which diversify the company’s assets and will imminently enhance revenue.
Remidose customers – including Canadian direct-to-patient medical platforms and international medical distributors – will be serviced through MediPharm beginning in August 2024, with the company keen on leveraging its existing GMP infrastructure, customer channels and wellness sales expertise to expand Remidose’s customer base across the world.
The non-dilutive, royalty-based acquisition is part of MediPharm’s current focus on new medical and GMP formats for international customers and advanced products for clinical research partners, many of which are interested in more non-smokeable, dose-controlled formats.
Leadership insights
“MediPharm Labs is committed to providing access to non-smokeable, precision-dosed formats for cannabis patients and wellness consumers. This agreement, in addition to bringing immediate revenue, opens many new potential global medical opportunities. We thank the Remidose team for trusting MediPharm in taking their R&D and commercialization efforts to the next level, as we work together to bring these products to new markets,” David Pidduck, MediPharm’s chief executive officer, said in a statement.
“As a medical cannabis company committed to providing consumers access to the therapeutic benefits of cannabis in a smoke-free manner, we see this agreement as a key milestone in bringing our products to a global marketplace with a proven, trusted partner in MediPharm Labs,” added Michael Mayne, Remidose’s chief executive officer.
About MediPharm Labs
MediPharm, est. 2015, develops and manufactures purified, pharmaceutical-quality cannabis concentrates, active pharmaceutical ingredients and advanced derivative products for medical markets across the world.
MediPharm stock (TSX:LABS) is up by 14.29 per cent trading at C$0.08 per share as of 9:55 am ET. The stock has added 14.29 per cent year-over-year, but has lost 98.34 per cent since 2019.
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(Top photo: Remidose)
