MediPharm Labs Enters United States Pharmaceutical Market with Submission of FDA DMF

MediPharm Labs Corp. (TSX: LABS) (OTCQX: MEDIF) (FSE: MLZ) (“MediPharm” or the “Company”) a pharmaceutical company specialized in precision-based cannabinoids, is pleased to announce it has completed a US FDA DMF for pure natural CBD API. The DMF will enable MediPharm to supply approved API to pharmaceutical companies currently conducting late-stage research. The cannabis-based drug opportunity is predicted to be over USD$25 billion by 2025, and there are over 20 strong novel cannabinoid-based drugs currently in the late-stage research process. These projects will all require pharmaceutical approved API if commercialized. MediPharm has already shipped good manufacturing practice (“GMP”) CBD for development purposes to multiple established pharmaceutical companies.

Management Commentary

Bryan Howcroft, CEO, MediPharm, commented, “The filing of a US DMF further advances MediPharm toward its ultimate objective of becoming a dominant supplier of API to pharmaceutical companies. This is a high value, high margin opportunity, and with the only purpose-built facility in North America to receive a domestic GMP licence specifically for the extraction of natural cannabinoids, MediPharm is positioned to capture share in this growing market. In the short to medium term, the DMF unlocks new sales channels and will enable us to further leverage the investments made to date on our high-quality pharmaceutical manufacturing platform. Over the longer-term, it ensures the Company is positioned as the go-to cannabinoid partner for pharmaceutical companies around the world.”

Additional Information

DMFs are regulatory submissions filed with the FDA containing confidential, detailed information about manufacturing, processes, packaging, and stability of APIs to be used in medicinal products for human use. Once the DMF filing is accepted by the FDA, pharmaceutical companies can reference the DMF when making a regulatory submission.

There are many large commercial opportunities for an API in new drug applications (“NDAs”) and abbreviated new drug applications (“ANDAs”). NDAs and ANDAs can be divided into the following four categories:

  1. A standalone NDA for new novel drugs.

  2. A 505(b)(2) application is a NDA where at least some of the information required for approval comes from studies not conducted by or for the applicant.

  3. An ANDA for a previous approved drug creating a new generic drug.

  4. A petitioned ANDA is a type of ANDA for a drug product that differs from the novel drug in dosage form, route of administration, strength, or active ingredient.

About MediPharm Labs

Founded in 2015, MediPharm specializes in the development and manufacture of purified, pharmaceutical-quality cannabis concentrates, API and advanced derivative products utilizing a Good Manufacturing Practices certified facility with ISO standard-built clean rooms. MediPharm has invested in an expert, research driven team, state-of-the-art technology, downstream purification methodologies and purpose-built facilities with five primary extraction lines for delivery of pure, trusted and precision-dosed cannabis products for its customers. Through its wholesale and white label platforms, MediPharm formulates, develops (including through sensory testing), processes, packages and distributes cannabis extracts and advanced cannabinoid-based products to domestic and international markets.

In 2021, MediPharm received a DEL from Health Canada, becoming the only company in North America to hold a domestic GMP License for the extraction of natural cannabinoids. The Company carries out its operations in compliance with all applicable laws in the countries in which it operates.

https://cashcroptoday.com/medipharm-labs-enters-united-states-pharmaceutical-market-with-submission-of-fda-dmf/

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