Medical Cannabis Legalization Helps Destigmatize Related Products
Overall, the legal cannabis market is permeating throughout the U.S. states and is helping to create a multi-billion-dollar industry. While medical cannabis still dominates that broad cannabis marketplace, increasing awareness and legalization efforts are expected to further propel the overall industry forward. Nonetheless, medical cannabis can already be found in many regions around the world such as parts of the U.S.,
MediPharm Labs Corp. (MEDIF) and STADA, a European Consumer Healthcare and Generics company, just announced breaking news that STADA has signed an exclusive supply agreement with MediPharm Labs Inc. Under the terms of the exclusive partnership, " - A milestone for the global cannabis industry as STADA, in partnership with MediPharm (MEDIF), forges the way as a large pharmaceutical company commercializing medical cannabis products.
- Partnership validates MediPharm Labs' (MEDIF) GMP pharmaceutical-quality cannabis production and, combined with STADA's 125-year heritage and experienced marketing and sales platform, will meet the growing demand of the medical cannabis market, beginning in
Germany – an estimated €1.5 billion market by 2025 - STADA CEO
Peter Goldschmidt : "This partnership with MediPharm (MEDIF) demonstrates STADA's ambition to be the go-to-partner for Generics, Consumer Health and Specialty Products. With MediPharm (MEDIF), we are collaborating with a very strong partner in the Medical Cannabis field."
BAD VILBEL,
"Working with MediPharm (MEDIF) will meet the needs of pharmacists and patients and deliver on STADA's purpose of caring for people's health as a trusted partner," commented STADA CEO
Under the terms of the exclusive partnership, MediPharm (MEDIF) will supply GMP certified medical cannabis products to STADA, as well as manufacturing, logistics, and regulatory support. STADA will be responsible for commercializing the cannabis products, initially in
"This partnership is exactly the type of business MediPharm (MEDIF) has been pursuing since its inception and a validation of our strategy to deliver GMP-certified cannabis products that can be used in multiple new products in multiple markets around the world," said
The partners will initially focus on
With over 83 million inhabitants benefitting from broad access to healthcare services,
The Medical Cannabis Network reports the medical cannabis market in
This is a further milestone for the global cannabis industry as STADA, in partnership with MediPharm (MEDIF), forges the way as a large pharmaceutical company to commercialize medical cannabis products.
Details of the products that STADA will bring to market through this partnership with MediPharm Labs (MEDIF) will be unveiled in the coming months in the respective relevant communication channels.
(1) https://www.healtheuropa.eu/exploring-growth-in-the-european-medical-cannabis-market/100849/"
GW Pharmaceuticals plc (GWPH) reported last month that the Australian Therapeutic Goods Administration (TGA) has approved EPIDYOLEX® (cannabidiol) for the treatment of seizures associated with Lennox-Gastaut syndrome (LGS) or Dravet syndrome in patients two years of age and older. This represents GW's cannabis-based medicine's third global regulatory approval, following US Food and Drug Administration (FDA) approval in 2018 and European Commission (EC) approval in 2019. GW has partnered with Chiesi Australia to make this medicine available in Australia, and the Company will now work alongside its partner and Australia's Pharmaceutical Benefits Advisory Committee (PBAC) to secure reimbursement for the medicine through a listing on the Pharmaceutical Benefits Scheme (PBS). "GW was founded over two decades ago with a mission to bring cannabis-based medicines to patients with an unmet medical need. We are proud to now be able to bring GW's cannabidiol to patients in Australia following this approval and our partnership with Chiesi Australia," said Chris Tovey, GW's Chief Operating Officer. "This marks our third global regulatory approval and is another important step for GW and the patients we are here to support. The TGA approval is further proof that cannabis-based medicines can successfully go through extensive randomised placebo-controlled trials and a rigorous evaluation process to reach patients who need them."
Tilray, Inc (TLRY). announced last month that Australian researchers have published preliminary results finding that one of the company's GMP-produced products is showing promise reducing nausea and vomiting for cancer patients undergoing chemotherapy in a world's first clinical trial. Results published in Annals of Oncology found a significant improvement in the control of chemotherapy-induced nausea and vomiting. A quarter of the patients taking medicinal cannabis experienced no vomiting and nausea, compared to 14 percent of people who took a placebo. The pilot phase of the study ran for two-and-a-half years with 81 participants enrolled. To be included in the study, patients had to have already experienced nausea and vomiting during chemotherapy despite having taken nausea prevention medication. "The side-effects associated with chemotherapy are some of the primary causes of treatment discontinuation", says
Zynerba Pharmaceuticals, Inc. (ZYNE) announced last month that the U.S. Food and Drug Administration has granted orphan drug designation for cannabidiol (CBD) for use in treating 22q11.2 deletion syndrome (22q). 22q is a rare midline condition featuring physical abnormalities and debilitating neuropsychiatric and behavioral symptoms including anxiety, withdrawn behavior, and social interaction problems. "Zynerba is committed to developing Zygel™ CBD gel in certain rare and near-rare conditions, including 22q, for which there is an urgent need for new, innovative therapeutics," said Armando Anido, Chairman and Chief Executive Officer of Zynerba. "We are pleased that the FDA shares our sense of urgency regarding the development of effective therapeutics in this important patient population. The receipt of this designation represents another important milestone for us, and we look forward to working closely with the FDA to develop Zygel in pediatric and adolescent patients with 22q as expeditiously as possible."
Aurora Cannabis Inc. (ACB) announced on February 3rd, its Aurora River production facility, located in Bradford, Ontario, has received European Union Good Manufacturing Practice certification. EU GMP certification is granted to companies whose production facilities demonstrate a high degree of quality and consistency in their manufacturing procedures and is a requirement for the export of medical cannabis products into most European markets. "Aurora is leading the development of medical markets across Europe and around the world," said Terry Booth, CEO of Aurora. "The EU GMP certification of our River facility further validates our strategy focused on purpose-built facilities, designed and constructed exclusively for the production of high-quality, pharmaceutical grade cannabis. I congratulate our team on successfully working with regulators and licensing bodies to ensure Aurora's facilities and products are in accordance with local and international standards that will allow for greater access to the highest quality medical cannabis products to patients who need them."
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