BARRIE, Ontario, Feb. 20, 2020 (GLOBE NEWSWIRE) — MediPharm Labs Corp. (TSX: LABS) (OTCQX: MEDIF) (FSE: MLZ) (“MediPharm Labs” or the “Company”) a global leader in specialized, research-driven pharmaceutical-quality cannabis extraction, distillation and derivative products, is pleased to announce Shoppers Drug Mart, Canada’s leading pharmacy retailer, has selected its wholly-owned subsidiary, MediPharm Labs Inc. (“MediPharm”), to supply high-quality cannabis concentrate products to medical patients nationally in Canada through its online platform Medical Cannabis by Shoppers.
Under the terms of the agreement, MediPharm will utilize its proprietary pharmaceutical manufacturing platform, methodologies and scientific data to provide Medical Cannabis by Shoppers with a wide range of concentrate-based products starting with formulated bottled oils. MediPharm will provide other derivative products such as gel caps and topicals as they become available. The agreement is for a three-year term subject to renewal for an additional two years. Formulated oils provided under the agreement are expected to begin being shipped to Shoppers within the first two months of the agreement.
MediPharm Labs is proud to be partnering with one of Canada’s most trusted names in retail to bring new and innovative pharmaceutical-quality cannabis concentrate products to Shoppers’ medical consumers across Canada.
Pat McCutcheon, CEO, MediPharm Labs
With our pharmaceutically trained team, our GMP certified platform and research licence permitting human trials, MediPharm Labs has the ability to develop advanced cannabis products backed by proprietary scientific research that will serve as the foundation for further expansion of future offerings.
Medical Cannabis by Shoppers launched in January 2019. The platform ships products from Canadian licensed producers directly and discreetly to customers in all provinces and territories in Canada. Under current regulations, pharmacists cannot dispense medical cannabis from a pharmacy.
According to Statistics Canada, approximately 1.1 million Canadians use cannabis for medical purposes.¹ MediPharm Labs is pleased to partner with a retailer who is not only committed to providing patients with high-quality medical cannabis from a trusted source, but guidance from specialized advisors. Such guidance is important in ensuring patients achieve satisfaction with their customer experience.
1 Number and percentage of people reporting non-medical, medical, and both medical and non-medical cannabis use by age group, Canada (provinces only), second and third quarters combined 2019. Statistics Canada, accessible at https://www150.statcan.gc.ca/n1/daily-quotidien/191030/t002a-eng.htm
About MediPharm Labs
Founded in 2015, MediPharm Labs specializes in the production of purified, pharmaceutical quality cannabis oil and concentrates and advanced derivative products utilizing a Good Manufacturing Practices certified facility with ISO standard-built clean rooms. MediPharm Labs has invested in an expert, research driven team, state-of-the-art technology, downstream purification methodologies and purpose-built facilities with five primary extraction lines for delivery of pure, trusted and precision-dosed cannabis products for its customers. Through its wholesale and white label platforms, they formulate, consumer-test, process, package and distribute cannabis extracts and advanced cannabinoid-based products to domestic and international markets. As a global leader, MediPharm Labs has completed commercial exports to Australia and is nearing commercialization of its Australian Extraction facility. MediPharm Labs Australia was established in 2017.
For further information, please contact:
Laura Lepore, VP, Investor Relations
Telephone: +1 416.913.7425 ext. 1525