- European based company MGC Pharma reported today it has hit the milestone of 100 Australian patients using its products to treat symptoms of cancer, chronic pain and neuropathic pain
- The company explained the main driving force for continued business is its most popular product, CannEpil, a cannabidiol extract used in treating epilepsy
- Most recently, the company has signed on to add its products, like CannePil, to the lineup of medical hemp consultancy Tetra Health – a company connecting with doctors, physicians and patients
- Over the last month, Tetra Health has grown its customer base by over 500 per cent, causing it to pursue additional products and distribution avenues
Medical hemp company MGC Pharma announced today it has hit the 100 patient milestones through its business operations in Australia.
The European based company reports its most popular product is CannEpil, a cannabidiol extract used in treating epilepsy that gained Australian authorisation late last year.
“To have reached 100 patients now prescribed or being processed to receive our products in a relatively short amount of time is a major milestone for the company,” MGC Pharma Co-founder Roby Zomer said.
“We anticipate our number of patients to increase as we broaden our product range available for prescription, and with products in Australia available for immediate supply,”
The company also stated a fresh shipment of CannEpil is already on its way to more Australian patients, straight from the company’s operations in Slovenia.
Assisting the company’s accelerated distribution outreach to patients are Australian companies Health House and Cannvalate.
Another big boost to the company’s patient outreach has come after landing its products on a lineup with medical hemp consultancy, Tetra Health.
“Our cannabinoid based pharmaceutical products are of consistent high-quality at an affordable price, and we believe that this is a key differentiator for the Company and will encourage prescriptions,” Roby Zomer continued.
“The agreement with Tetra Health serves to further advance the commercialisation of our cannabinoid derived pharmaceutical products in Australia by connecting greater numbers of patients with products through Tetra’s established network of prescribing physicians and partnering clinics,”
Tetra is based in Australia and serves to facilitate physicians and medical hemp patient candidates with the appropriate distribution streams and products.
Tetra Health currently services over 30,00 global patients and will purchase MGC Pharma products in a wholesale model.
“We are delighted to add MGC Pharma’s cannabinoid medicines to our diverse product offering,” Tetra Health Chairman Ian Mutton said.
Ian explained the company’s number of prescribed patients has grown a whopping 500 per cent over the last month, allowing the company to expand and pursue new products.
Health House International will be mediating as a distributor between MGC Pharma and Tetra Health.
Despite the positive announcement this morning, share prices in MGC Pharma are trading at a 1.89 per cent reduction today – 5.2 cents apiece.
Today, the company’s market cap sits small at $64.31 million.