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RNS Number : 6418U
MGC Pharmaceuticals Limited
07 April 2021
07 April 2021 MGC Pharmaceuticals
ASX Code: MXC MGC Pharma completes delivery of first major ArtemiC(TM)
LSE Code: MXC Rescue order to Swiss PharmaCan AG, drives March to record
quarter for MGC's product revenues
Key Highlights :
-- In March 2021, the Company announced an initial purchase
order for ArtemiCTM Rescue from Swiss PharmaCan AG (SPC), of
approximately AUD425,000 ( EUR275,000) wholesale revenue to MGC
Pharma - with this first major batch order delivered to SPC in
March.
-- MXC delivers record quarterly revenue from its phytomedicine
products of approximately AUD880,000, inclusive of the first bulk
order of ArtemiCTM Rescue from SPC.
-- The SPC Master Agreement signed includes a minimum wholesale
order quantity to MGC Pharma of 40,000 units per quarter of
ArtemiCTM Rescue.
-- Swiss PharmaCan AG to exclusively distribute ArtemiCTM Rescue
worldwide1, with specific focus on countries currently reporting
high numbers of COVID-19 patients.
-- Sales growth of the Company's pharma grade, cannabinoid
products has continued in key markets including Australia in the
first quarter of calendar 2021.
-- Completion of the Medicinal Cannabis Clinics (MCC)
acquisition starts to deliver operational synergies and broader
Australian patient access including new sales pipeline.
MGC Pharmaceuticals Ltd (ASX, LSE: MXC, 'MGC Pharma' or 'the
Company'), a European based bio-pharma company specialising in the
production and development of phytocannabinoid-derived medicines,
is pleased to announce it completed delivery of the first bulk
order in March of ArtemiC(TM) Rescue to Swiss PharmaCan AG,
equating to circa AUD425,000 ( EUR275,000) wholesale production
revenue to MGC Pharma.
Upon completion of manufacturing and delivery of this first
ArtemiC(TM) Rescue bulk order, the Company successfully delivered a
record quarter of sales revenues from its proprietary phytomedicine
product line, with approximately AUD880,000 of revenue generated
for the March 2021 quarter.
The month of March also delivered the best monthly sales revenue
for the Company to date from its pharmaceutical grade phytomedicine
products, with sales of the MP product line in Australia driving
its best monthly unit sales to date with over 1,500 units sold.
More details of the sales and revenue results will be detailed in
the March quarterly activity report due out in the coming
weeks.
Importantly, the Company has also been completing the
operational integration of the MCC acquisition over the past few
months and is now operating under MGC Pharma's management control
and cost structures. This is now starting to deliver the business
synergies including increased patient numbers and revenues from the
Australian phytocannabinoid medicine division of the Company.
Nicole Godresse, MGC Pharma's Global Chief Sales Officer
commented: "In recent months we have seen rapid sales growth of our
medical cannabis products as a direct result of our strategy to
broaden our core prescriber base, diversify and expand our revenue
streams and build additional strategic alliances. It is pleasing to
see these strategies starting to translate into positive commercial
outcomes and we expect this strong growth momentum to continue in
2021 and beyond".
ArtemiC(TM) Rescue from Swiss PharmaCan AG
The first bulk order of ArtemiC(TM) Rescue delivered in March is
part of a quarterly wholesale order quantity from SPC under the
Master Agreement, which is to run for a minimum of 3 years. As
announced on 18 February 2021, MGC Pharma signed an exclusive
master supply and distribution agreement (the ' Master Agreemen t')
with leading European nutraceutical producer and distributor, Swiss
PharmaCan AG (" SPC ") for the sale and distribution of the
Company's food supplement ArtemiC(TM) Product line.
ArtemiC(TM) is a clinically tested food supplement
(nutraceutical, dietary supplement, natural health product)
containing four natural based ingredients consisting of
Artemisinin, Curcumin, Boswellia serrata, and Vitamin C.
As the mechanism of action of ArtemiC(TM) Rescue is focused on
the anti-inflammatory effect and reducing and prevention of
cytokine storm, a wide spectrum of potential indications will be
considered for future development.
The Master Agreement includes a minimum wholesale order quantity
of 40,000 units per quarter. The Company will be responsible for
providing ArtemiC(TM) Rescue to SPC and has the ability to produce
commercial scale batches of both products through its current
manufacturing capacity and production facility in Slovenia.
Roby Zomer, Co-founder and Managing Director of MGC Pharma,
commented: "We are very pleased to complete our first batch
purchase order for ArtemiC(TM) Rescue under our Swiss PharmaCan
agreement. This, combined with sales growth of other pharma grade
cannabinoid products in key markets, has helped to deliver the
strongest month and quarter of revenue growth for the Company to
date."
Nicole Godresse, Global Chief Sales Officer of MGC Pharma,
commented: "The launch of ArtemiC(TM) Rescue represents a
significant milestone for MGC Pharmaceuticals. We are encouraged by
early clinical trial results and confident that ArtemiC(TM) Rescue
will provide a highly effective and accessible over-the-counter,
plant-based treatment option for patients, as well as contributing
to the rapid acceleration of MGC Pharmaceutical's revenue growth in
2021 and beyond."
--Ends--
Authorised for release by the Board, for further information
please contact:
MGC Pharmaceuticals Ltd UK PR Tavistock - Tavistock
Roby Zomer Charlies Vivian +44 20 7920 3150
CEO & Managing Director Charles.Vivian@tavistock.co.uk
+61 8 6382 3390 Tim Pearson +44 7983118 502
info@mgcpharma.com.au Tim.Pearson@tavistock.co.uk
UK Broker - Turner Pope Australian PR/IR Advisors - Media
Andy Thacker & Capital Partners
Andy.Thacker@TurnerPope.com Rod Hinchcliffe (IR) +61 412 277
Zoe Alexander 377
Zoe.Alexander@TurnerPope.com Rod.Hinchcliffe@mcpartners.com.au
+44 20 3657 0050
About MGC Pharma
MGC Pharmaceuticals Ltd (LSE: MXC, ASX: MXC) is a European based
bio-pharma company developing and supplying affordable standardised
phytocannabinoid derived medicines to patients globally. The
Company's founders were key figures in the global medical cannabis
industry and the core business strategy is to develop and supply
high quality phytocannabinoid derived medicines for the growing
demand in the medical markets in Europe, North America, and
Australasia. MGC Pharma has a robust product offering targeting two
widespread medical conditions - epilepsy and dementia - and has
further products in the development pipeline.
Employing its 'Nature to Medicine' strategy, MGC Pharma has
partnered with renowned institutions and academia to optimise
cultivation and the development of targeted phytocannabinoid
derived medicines products prior to production in the Company's
EU-GMP Certified manufacturing facility.
MGC Pharma has a number of research collaborations with world
renowned academic institutions, and including recent research
highlighting the positive impact of using specific phytocannabinoid
formulations developed by MGC Pharma in the treatment of
glioblastoma, the most aggressive and so far therapeutically
resistant primary brain tumour.
MGC Pharma has a growing patient base in Australia, the UK,
Brazil and Ireland and has a global distribution footprint via an
extensive network of commercial partners meaning that it is poised
to supply the global market.
Follow us through our social media channels:
Twitter: @MGC_Pharma
Facebook: @mgcpharmaceuticals
LinkedIn: MGC Pharmaceuticals Ltd.
Instagram: @mgc_pharma
About Swiss PharmaCan AG
Micelle Technology AG, parent company of Swiss PharmaCan AG is a
dynamic organization dedicated to R&D using natural active
ingredients (i.e., vitamins and minerals) to improve human health.
As one of the leading innovators of plant-based micelle
concentrates, Micelle Technology AG offers a unique technology,
which enables the company to harness the full potential of herbal
active ingredients.
Website: www.swisspharmacan.ch
([1]) Excluded territories; Thailand, Myanmar, Israel, CIS
(Armenia, Belarus, Kazakhstan, Moldova, Russia, Tajikistan,
Uzbekistan) and Ukraine
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