Medipharm Labs Corp (OTCMKTS:MEDIF) just announced the launch of its new family of “MediPharm Labs” branded products to deliver high quality, innovative offerings to consumers in the medical and adult-use markets across Canada.
According to the release, with its sophisticated, pharmaceutical-quality GMP certified platform and R&D capabilities, MediPharm Labs has the ability to create best-in-class products, with the formulations, potency and purity to meet current needs and evolving consumer trends. MediPharm Labs new line of medical and wellness products are targeted for distribution across multiple patient and adult use channels in Canada.
Medipharm Labs Corp (OTCMKTS:MEDIF) bills itself as a company that primarily focuses on producing pharma-grade cannabis oil and concentrates in Canada. It also focuses on providing cannabis contract processing services to licensed producers and growers; supplying cannabis oil to companies for sale under its brand; and supplying raw materials and processing for the creation of ready-to-sell cannabis products. The company was founded in 2015 and is headquartered in Barrie, Canada.
Founded in 2015, MediPharm Labs has the distinction of being the first company in Canada to become a licensed producer for cannabis oil production under the ACMPR without first receiving a cannabis cultivation license.
This expert focus on cannabis concentrates from our cGMP (current Good Manufacturing Practices) and ISO standard clean rooms and critical environments laboratory, allows MediPharm Labs to produce purified, pharmaceutical-grade cannabis oil and concentrates for advanced derivative products. MediPharm Labs has invested in an expert, research-driven team, state-of-the-art technology, downstream extraction methodologies and purpose-built facilities to deliver pure, safe and precisely-dosed cannabis products to patients and consumers. MediPharm Labs’ private label program is a high margin business for the company, whereby it opportunistically procures dry cannabis flower and trim from its numerous product supply partners, to produce proprietary cannabis oil concentrate products for resale globally on a private label basis.
Through its subsidiary, MediPharm Labs Australia Pty. Ltd., MediPharm Labs has also completed its application process with the federal Office of Drug Control to extract and import medical cannabis products in Australia.
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As noted above, MEDIF just announced the launch of its new family of “MediPharm Labs” branded products to deliver high quality, innovative offerings to consumers in the medical and adult-use markets across Canada.
Recent action has seen 5% tacked on to share pricing for the stock in the past month. What’s more, the company has registered increased average transaction volume recently, with the past month seeing 23% above its longer-run average levels.
“We are thrilled to be launching MediPharm Labs’ first branded products, answering the call from consumers and retailers for more choice of high-quality, innovative cannabis products,” says Pat McCutcheon, Chief Executive Officer, MediPharm Labs. “True to our pharma roots, based on a foundation of quality, our first branded product is a high-concentration CBD oil, created by our expert pharmaceutical team, specifically for medical and wellness purposes. We believe our focus on purity, potency and price will make MediPharm Labs CBD REGULAR FORMULA 25 Canada’s preferred choice.”
At this time, carrying a capital value in the market of $148M, MEDIF has a significant war chest ($42.3M) of cash on the books, which compares with about $53.6M in total current liabilities. One should also note that debt has been growing over recent quarters. MEDIF is pulling in trailing 12-month revenues of $107M. In addition, the company is seeing recent top-line growth, with sequential quarterly revenues growing at 37.9%. This is an exciting story, and we look forward to a follow-up chapter as events transpire. Sign-up for continuing coverage on shares of $MEDIF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $MEDIF, either long or short, and we have not been compensated for this article.