12 October 2020 ASX Code: MXC
MGC Pharma shipped the first high THC formulation direct to
patients in Brazil through the ONIX online platform
- 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.
- Prohibition Partners, LATAM Cannabis Report, 2018
- View the Mercury Pharma Brochure via the Company’s website
- Interfarma 2019 Guide
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 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. ”
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PR / IR advisor – Media & Capital Partners
MGC Pharmaceuticals Ltd.
Melissa Hamilton (PR) +61 417 750274
Rod Hinchcliffe (IR) +61412277377
CEO & Managing Director
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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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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