Sunday, June 1, 2025

Latest

Medipharm Labs Receives Australian Drug Import License

Medipharm Labs (TSX: LABS) announced this morning that the firm has received an importation license from the Australian Department of Health, Drug Control Section, enabling the firm to import Schedule 4 drugs into the country. The step is a critical one, in that it gets Medipharm closer to executing upon its international strategy.

Now that the Medipharm Labs has acquired the key importation license, the firm will be able to submit for import permits for the importation of cannabis, cannabinoids, and cannabis resin. Once imported, the product will be finalized by Medipharm Labs Australia Pty into tinctures and other product forms.

The final step for the execution of Medipharm Labs’ Australian strategy will involve receiving GMP certification from the Therapeutic Goods Association. The certification will enable the firm to ship GMP-certified cannabis products to the European Union, including Germany, as a result of a Mutual Recognition Agreement between Australia and the EU.

No timeline was provided for the receipt of GMP Certification at the firms Australian facility, however Medipharm identified that receiving such certification is critical to its global supply chain strategy.

The news this morning could not come at a better time for Medipharm, whom yesterday scrambled to instill investor confidence following the filing of a statement of claim in Ontario related to unpaid debts owed by Hexo Corp.

Medipharm Labs last traded at $2.98 on the TSX.

Information for this briefing was found via Sedar and Medipharm Labs. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

How a Single Deal Turned 2 ‘Dead’ Mines into a $2B Project | Canadian Copper PEA – Simon Quick

Silver47 x Summa Silver: Creating An Explorer With A Billion Ounce Goal

Alamos Gold Q1 Earnings: The Inside Scoop

Recommended

Silver47 x Summa Silver: Creating An Explorer With A Billion Ounce Goal

Canadian Copper: The $172M Combined Strategy PEA

Related News

Medipharm Labs Ships First Topical Products

Medipharm Labs (TSX: LABS) is now in the cannabis topicals business. The company announced this...

Wednesday, March 25, 2020, 08:20:53 AM

Rough Week In Cannabis Sector Capped With Gut Punch From Ontario

This first week of April has been the never-ending week for the cannabis industry that...

Friday, April 3, 2020, 03:24:27 PM

Medipharm Labs Sees PI Financial, Mackie Research Drop Estimates, Price Targets

Medipharm Labs (TSX: LABS) reported Q1 2020 results on Thursday, June 18, which showed it’s...

Friday, June 19, 2020, 02:55:31 PM

Medipharm Labs: Canaccord Lowers Targets After Earnings

On August 16, Medipharm Labs (TSX: LABS) reported their second quarter financial results. The company...

Friday, August 20, 2021, 07:54:00 AM

MediPharm Labs, Vivo Cannabis Slump After Announcing All-Stock Deal

MediPharm Labs (TSX: LABS) announced on Thursday an all-equity deal to acquire VIVO Cannabis (TSX:...

Sunday, December 25, 2022, 01:35:00 PM