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MGC Pharmaceuticals: FIRST HIGH THC PRODUCTS SHIPPED DIRECTLY TO BRAZIL PATIENTS | Instant News


12 October 2020 ASX Code: MXC

MGC Pharma shipped the first high THC formulation direct to

patients in Brazil through the ONIX online platform

Main Highlights:

  • MGC Pharma completes initial delivery of its Mercury Pharma line, which includes high THC products, direct to patients in Brazil through a supply and distribution agreement with ONIX
  • A major operational and commercial achievement as MGC Pharma is now the first company globally to ever supply high THC formulations directly to patients in Brazil under the country’s Compassionate Use Program.
  • Brazil is a market of strategic importance with a population of over 210 million1 people and pharmaceutical market value of ~ A $ 24 billion1 year
  • Potential to immediately develop new sales of materials and cash flow channels – new patients registering daily in Brazil for MGC Pharma products within weeks of first successful delivery
  • ONIX is actively recruiting doctors in Brazil and aims to have more than 1,000 doctors with the ability to prescribe cannabinoid products with mid-2021 – significantly broadens the market opportunities for MGC Pharma to supply its formulations

MGC Pharmaceuticals Ltd (ASX: MXC, ‘MGC Pharma’ or ‘Company’), a European based biopharma company that specializes in production and development phytocannabinoid derivativespharmaceuticals, is pleased to announce that it has completed the first shipment of its Pharmaceutical Mercury line which includes a high THC ratio product direct to patients in Brazil through binding supply and distribution agreements with Based in BrazilONIX Empreendimentos e Participações (‘ONIX’), (see ASX release March 3, 2020).

In a major operational milestone, MGC Pharma has become the first company globally to deliver high THC formulations directly to a patient’s door in Brazil, without the need to visit a pharmacy.

MGC Pharma has delivered Mercury Pharma (MP) branded products directly to patients according to the Brazilian Compassion Use Program after receiving the patient prescription given by the ONIX referral doctor. ONIX currently has more than 100 referral doctors in Brazil who can prescribe cannabinoid products under its Compassion Use Program and aims to have more than 300 referral doctors by the end of calendar 2020 and more than 1,000 by mid-2021. A complete line of Mercury Pharmaceuticals is now available. in Brazil which, based on the years experience of the Company’s medical team, covers a product range from pure CBD (MP100) through different ratios (1:30, 1: 1, 7: 1, 15: 1) to pure THC product MP252.

Brazil – Access to Large Target Markets Underway for MGC Pharma

The existing pharmaceutical drug market in Brazil represents a geography of strategic importance for MGC Pharmacy as Brazil has a population of more than 210 million people1. The National Health Expenditure in Brazil is estimated at A $ 267b1 with total expenditures on drugs estimated at A $ 24 billion1 every year. According to Interfarma (Pharmaceutical Research Industry Association), the Brazilian pharmaceutical market is expected to grow from A $ 59.9 billion in 2019 to A $ 66 billion in 2023.3 , through sales of approximately 238 million units3.

  1. Prohibition Partners, LATAM Cannabis Report, 2018
  2. View the Mercury Pharma Brochure via the Company’s website
  3. Interfarma 2019 Guide

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In addition, there are 10,000 patients in Brazil who are currently registered with the Brazilian local authority, ANVISA, to receive cannabinoid products directly who are suffering from various medical conditions. Only 350 doctors out of more than 500,000 doctors across Brazil are currently authorized to prescribe cannabinoid products. This is expected to change due to the number of initiatives used by ONIX.

ONIX

ONIX is a company based in Brazil that helps companies doing business in the region. It develops its business under the ONIXCANN brand and is a well-established distributor of phytocannabinoid-based products in Brazil that connects doctors and patients. ONIXCANN has an innovative digital and telemedicine platform called CANTERAMED which connects potential patients with relevant medical professionals. CANTERAMED is a complete digital wellness platform that facilitates safe and legal access to phytocannabinoid products and to guide doctors and patients about available treatments.

ONIX has established a partnership with one of the major Universities in Brazil, Anima Educação, and has developed a post-graduation course consisting of 12 nano degree courses of 30 hours each designed to train experienced doctors on CBD and THC products and authorize them to prescribe cannabinoid products.

ONIX has launched the second generation of CANTERAMED platform to help doctors better serve their patients. The CANTERAMED platform has facilitated doctors’ practice with its protocol for using MGC Pharma products and registering treatment results. CANTERAMED includes a telemedicine platform that connects patients with trained doctors to prescribe MGC Pharma products.

ONIX is currently also visiting doctors with a traditional pharmaceutical model who educates doctors about products and aims to have more than 1,000 doctors with the ability to prescribe cannabinoid products to patients by mid-2021.

This initiative is expected to continue to drive market awareness and penetration of cannabinoid products for eligible patients in Brazil.

Roby Zomer, Co-founder and Managing Director of MGC Pharma, comments: “I am very pleased to announce that we have successfully shipped our Mercury Pharma THC product range to Brazil. This is a great achievement as no other company has delivered high THC formulations directly to patients in Brazil before. We have worked closely with our Brazilian partner ONIX and remain confident that Brazil will become a very large strategic and commercially important region for us in the future. Feedback to date from patients in Brazil has been very positive and we see a rapidly increasing demand for our Mercury Pharmaceutical products. “

Marcelo Galvão, Founder of ONIX, comments: “We are very pleased to announce this. It has always been an important part of our strategy to bring high THC products to Brazil. There are more than 30,000 patients currently using homemade oils in Brazil and these patients are in desperate need of a quality product as we do now. take it with the Mercury Pharma Line. ”

–Ends–

Authorized for release by the Board, for more information please contact:

PR / IR advisor – Media & Capital Partners

MGC Pharmaceuticals Ltd.

Melissa Hamilton (PR) +61 417 750274

Roby Summer

Rod Hinchcliffe (IR) +61412277377

CEO & Managing Director

[email protected]

+61 8 6382 3390

[email protected]

[email protected]

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About MGC Pharma

MGC Pharmaceuticals Ltd (ASX: MXC) is a European-based bio-pharmaceutical company that develops and supplies affordable standard phytocannabinoid-derived medicines to patients globally. The Company’s founders are key figures in the global medical cannabis industry and its core business strategy is to develop and supply high quality phytocannabinoid-derived pharmaceuticals for the growing demand in the medical market in Europe, North America and Australasia. MGC Pharma has a strong product offering targeting two widespread medical conditions – epilepsy and dementia – and has further products in the path of development.

Using the ‘Nature to Medicine’ strategy, MGC Pharma has partnered with renowned institutions and academics to optimize the cultivation and development of targeted phytocannabinoid-derived medicinal products prior to production in the Company’s EU-GMP Certified manufacturing facilities.

MGC Pharma has a number of research collaborations with world-renowned academic institutions, and includes recent research highlighting the positive impact of using a specific phytocannabinoid formulation developed by MGC Pharma in the treatment of glioblastoma, the most aggressive and thus far therapeutically resistant primary brain tumor.

MGC Pharma has a growing patient base in Australia, UK, Brazil and Ireland and has a global distribution footprint through an extensive network of commercial partners which means it is ready to supply the global market.

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Rejection

MGC Pharmaceuticals Ltd. publish this content on 11 October 2020 and take full responsibility for the information contained therein. Distributed by the Public, unedited and unaltered, at October 11 2020 21:54:08 UTC

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Australian stocks ended lower as recession fears deepened, energy stocks dragged down | Instant News


A drop in energy stocks sent Australian stocks lower on Wednesday, while falling consumer sentiment reinforced fears of an economic collapse due to the coronavirus crisis.

The S & P / ASX 200 index ended 0.4 percent lower at 5,466.70, after starting the session in positive territory. The benchmark closed up 1.9 percent on Tuesday.

A survey showed that Australian consumer sentiment slumped in April to a 30-year low as social measures to keep the virus from threatening to push the country’s economy into the first. recession in three decades.

“The market opened with a glimmer of hope but this was quickly erased … after the consumer confidence figures were the worst in the 47-year survey history,” RBC Capital Markets equity chief Karen Jorritsma said in a note.

“… this is another level of confidence.”

The survey comes ahead of what is expected to be grim unemployment data on Thursday, as companies registered in Australia and New Zealand cut jobs. Analysts expect the figure to shoot above 10 percent in the next few months.

Adding to the gloom in the market, the International Monetary Fund warned that the global economy this year would experience the sharpest decline since the Great Depression of the 1930s.

Oil prices recovered slightly in Asian trading hours but were not enough to erase huge losses overnight because of fears of oversupply and a deep recession weighed on.

The slump in oil prices sent the energy index down 3.1 percent in its worst day in almost three weeks.

Woodside Petroleum and Santos each dropped more than 3.5 percent.

Miners also recorded losses, down 0.6 percent because giants BHP Group and Rio Tinto were down 0.7 percent and 1.2 percent respectively.

However, Lynas Corp gained 5.2 percent after the world’s largest rare earth producer outside China filed an exception for a Malaysian processing plant, while reporting higher results in the third quarter.

Across the Tasman Sea, New Zealand’s S & P / NZX 50 benchmark index closed up 2.5 percent or 250.92 points at 10,409.94, as the government prepared to announce further fiscal stimulus this week.

Finance provided the biggest boost, with lenders listed in New Zealand Westpac Banking Corp and Australia and the New Zealand Banking Group recording increases of 1.7 percent and 2 percent, respectively.

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Australian stocks ended higher with pandemic hopes mounting | Instant News


Australian shares closed higher on Thursday amid hopes the coronavirus outbreak was nearing a peak in the United States, while positive comments about the strength of Australian lenders by the central bank also boosted sentiment.

The S & P / ASX 200 index closed up 3.5 percent, or 180.4 points, at 5,387.3, following overnight gains on Wall Street. With a 6.3 percent weekly increase, the benchmark recorded the best time since December 2011.

New York Governor Andrew Cuomo said the country’s efforts to maintain social distance worked in controlling the spread of the virus when hospitalizations were reduced on Tuesday from the previous day, offering investors a place of assistance.

“Signs that the number of new daily coronavirus cases are rising are driving hopes that remote social measures will soon be lifted in some parts of the world,” Stephen Innes, chief market strategist at AxiCorp, said in a note.

“Relaxing social distance is a new ‘risk-new’ barometer.”

Adding to aid, the Reserve Bank of Australia said the bank was well-positioned to withstand the economic downturn driven by the corona virus, although it did mark some potential weaknesses in the property market.

The heavyweight financial sub-index ended 4 percent higher, with the country’s “Big Four” banks all recording strong gains.

Commonwealth Bank’s biggest lenders rose 3.3 percent, while the Australian and New Zealand Banking Groups rose 6.6 percent.

Lawmakers approved the country’s biggest financial package on Wednesday to blunt the economic impact of the virus and subsidize the wages of 6 million people for at least the next six months.

Healthcare shares led gains on the benchmark, ending 4.6 percent higher.

Pharmaceutical giant CSL Ltd., which is among the index’s biggest shares, jumped 5.5 percent after reaffirming its estimated earnings for fiscal 2020 despite pressure from coronavirus-related disruptions.

Miners also posted increases, adding 0.9 percent as iron ore prices gained. Mining heavyweights Rio Tinto Ltd and BHP Group Ltd both recorded moderate increases.

Energy stocks jumped 3.9 percent as oil futures prices rose amid expectations that top oil producers will agree on production cuts at the meeting that day.

Woodside Petroleum Ltd and Santos Ltd rose 3.9 percent and 3.8 percent respectively.

New Zealand’s S & P / NZX 50 benchmark index fell 0.7 percent, or 67.76 points, to finish the session at 9963.90.

Medical device maker Fisher & Paykel Healthcare Corp Ltd dropped 5.7 percent, while electricity generator Meridian Energy Ltd lost 4 percent.

Financial markets in Australia and New Zealand will be closed for holidays on Friday and Monday, and will resume trading on Tuesday, April 14.

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Australian shares ended down slightly on downbeat outlook for the country; NZ closed higher | Instant News


Australian shares closed slightly lower on Wednesday, with the heavyweight financial sector leading the losses, as market players fretted over the impending economic impact of the coronavirus pandemic.

The S & P / ASX 200 index closed around 0.9 percent lower at 5,206.90, after falling as much as 2.9 percent earlier in the session. The benchmark ended 0.65 percent lower on Tuesday.

The Australian market was hit after the global credit rating company Standard & Poor’s downgraded its outlook to the country’s coveted ‘AAA’ rating to “negative” from “stable”, saying the government’s massive fiscal package to protect the economic blow from the pandemic could lead to a sharp increase in state debt position.

Citing the threat of a prolonged economic downturn, the government is working to pass an emergency stimulus package of A $ 130 billion ($ 80 billion) to subsidize the wages of 6 million Australians.

With the country’s unemployment rate expected to double to nearly 10 percent, most economists predict the worst recession in Australian history.

“The government stimulus is about delaying the inevitable explosion in unemployment that began to rise in 2019. We will now have a big pop in unemployment, and again in September when subsidies start rolling,” said Mathan Somasundaram, broker strategist at Blue Ocean Equity.

Meanwhile, adding to the broader gloom, Australia’s cautious regulator called on banks and insurance companies to consider delaying dividend payments.

This, together with a downgrade by Fitch Ratings on all the “Big Four” banks, made the Australian financial index fall 2.8 percent at the close – which was the biggest drag on the day. The “Big Four” lenders ended 3.33 percent to 5.3 percent lower.

The Bank of Queensland was the first to postpone the interim dividend on the release of the first semester’s earnings earlier that day.

Energy stock closed down 1.3 percent, because all of its components were finished in negative territory. Industrial giant Santos slipped 0.2 percent at the close, while Oil Search fell 3.4 percent.

Miners fell around 0.8 percent, despite an increase in iron ore prices. The world’s largest mining company BHP Group settled 1.2 percent lower, while its partner Rio Tinto dropped 1.5 percent.

Gold shares reduced their previous profit down 0.4 percent at the close, as the price of gold fell due to concerns over rising deaths worldwide from the new corona virus.

Bellevue Gold fell 4.9 percent, while OceanaGold dropped 3.6 percent.

Across the Tasman Sea, New Zealand’s S & P / NZX 50 benchmark index ended 2.3 percent higher at 10,031.66.

Tourism, entertainment and entertainment company SkyCity Entertainment rose 8.8 percent while utility provider Infratil gained 7.2 percent.

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