MGC Pharma bags vital medicinal cannabis import licence

MGC Pharma bags vital medicinal cannabis import licence

Medicinal cannabis producer and developer MGC Pharma (ASX: MXC) will see its logistics processes streamlined following the granting of a new import licence.

Issued by the Australian Office of Drug Control (ODC) the import licence will enable MGC to directly import Schedule 4 (prescription only medicine) and Schedule 8 (controlled drugs) medicinal cannabis products into Australia from its European production facility.

MGC will decrease its logistics and handling fees as the import process was previously facilitated by Melbourne-based group Cannvalate and medicinal cannabis distributor Health House International.

MGC Pharma co-founder and managing director Roby Zomer says the granting of the import licence is the latest step toward the company becoming a vertically integrated bio-pharma group.

"The granting of the import licence in Australia is very significant for our Australian operations, with the logistics savings we are able to become more cost effective and are also able to expand our product offering to our Australian customers," says Zomer.


Stay tuned. Our Australia's top 20 cannabis companies list for 2020 will be released soon.


MGC will now bulk import its medicinal cannabis products for storage, distribution and sale across Australia through its commercial partners including Cannvalate.

Further, the company will now be able to expand importation to encompass a wider range of products including products from its Mercury Pharma brand such as MP1:1 (a 25mg/mL THC:CBD product) and MPT25T (a 25mg/ML THC product).

Never miss a news update, subscribe here. Follow us on Facebook, LinkedIn, Instagram and Twitter.

Business News Australia

Subscribe Now!
Four time-saving tips for automating your investment portfolio
Partner Content
In today's fast-paced investment landscape, time is a valuable commodity. Fortunately, w...
Etoro
Advertisement

Related Stories

Melbourne AI receptionist startup Phonely receives Y Combinator funding with record-breaking launch

Melbourne AI receptionist startup Phonely receives Y Combinator funding with record-breaking launch

An artificial intelligence (AI) receptionist that can reported...

Administrators appointed to plant-based protein group behind MEET

Administrators appointed to plant-based protein group behind MEET

The plant-based meat alternative industry has taken a hit after one...

Catalano’s ACM still keen on striking a Southern Cross deal as newspaper titles put on the table

Catalano’s ACM still keen on striking a Southern Cross deal as newspaper titles put on the table

Regional newspaper group Australian Community Media is still keen f...

Perth's 'OnlyFans for artists' MyPremo empowers musicians, attracts investment from Ice Cube

Perth's 'OnlyFans for artists' MyPremo empowers musicians, attracts investment from Ice Cube

“Maintain your ownership, maintain your creative freedom. You...