MediPharm Labs Australia Pty Ltd has signed its second white-label supply agreement with New Zealand medical cannabis companies in less than two weeks, which closely followed a local white label supply deal.
In late April, the company sealed an agreement to supply pharmaceutical-quality white-label cannabis oil products to NZ’s Helius Therapeutics Limited. This was MediPharm Labs Australia’s first international supply agreement that will see Helius Therapeutics distributing the Medipharm-sourced products under its own brand to licensed pharmacies across New Zealand. The agreement has an initial two-year term.
Then on Monday, MediPharm Labs entered into an agreement to supply white-label GMP certified cannabis oil products to Cannasouth Plant Research New Zealand Limited.
The New Zealand Ministry of Health’s Medicinal Cannabis Scheme came into effect on April 1 – in the midst of the country’s COVID-related lockdown. It requires all medicinal cannabis products be manufactured under Good Manufacturing Practices (“GMP”).
“As New Zealand is set to start seeing increased demand from patients for medicinal cannabis, MediPharm Labs will be ready to provide patients with a reliable supply of innovative pharma-quality products they can trust,” said Warren Everitt, Chief Executive Officer, MediPharm Labs Australia.
In both deals, the agreements are conditional on confirmation from the New Zealand Medicines and Medical Devices Safety Authority (MedSafe) and both companies that the products involved meet the necessary quality and regulatory standards.
MediPharm Labs Australia has had a good run on white-label arrangements recently. Early in April, the company entered into an initial 3-year supply agreement for white label GMP certified cannabis oil products with Burleigh Heads Cannabis Pty Ltd, which is a subsidiary of CDA Health Pty Ltd. CDA Clinics says it has completed over 6,000 successful TGA patient approvals since launching in October 2018.
MediPharm Labs Australia is a subsidiary of Canada’s MediPharm Labs Corp, which was founded in 2015. In December last year the Australian subsidiary – established in 2017 – opened the initial phases of its specialised extraction facility in Wonthaggi, Victoria; which will ultimately be capable of processing up to 75 tonnes of cannabis into resin annually.