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MediPharm Labs CEO On Winning New Markets, International Expansion

June 2, 2020 5:39 pm
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MediPharm Labs CEO On Winning New Markets, International Expansion

MediPharm is a producer and distributor of pharmaceutical quality cannabis oil and concentrates. The company is based in Canada and has production operations in Australia, as well as distribution deals to other regions.

Keith Strachan, president and director of MediPharm Labs (TSX:LABS) (OTCQX:MEDIF) joined Benzinga’s Anthony Noto at the Virtual Benzinga Cannabis Capital Conference on Monday.

MediPharm Branded Products

MediPharm had a profitable year in 2019, focusing mainly on B2B bulk sales of what Strachan calls "intermediate product."

In 2019, the company noticed a product gap in the medical and wellness markets, and decided to launch its own product line to fill that empty market. The MediPharm brand is focused on the medical and wellness categories and started distribution that same year with Shoppers Drug Mart, one of the largest pharmaceutical retailers in Canada.

CBD 25 and CBD 50, the brand’s flagship products, can now be found in six Canadian provinces. The company is working on expanding its reach to cover the entire country.

See Also: The Importance Of Trust In The Cannabis Industry, According To Caliva's CEO

Ace Valley Vape Pen

MediPharm Labs is the "behind-the-scenes" manufacturer of the Ace Valley Vape Pens. The company produces three SKUs for Ace Valley: Indica, Staiva and a CBD-dominant vape pens.

“One of our biggest strengths is execution,” said Strachan, when asked why Ace Valley chose his company as a production partner.

“We’re a company that’s proven over and over again that we’re going to do what we say we’re going to do, which is sometimes not found as easily in the cannabis space, being such a young industry.”

The CEO said having GMP-certified facilities allows his company to produce high-quality products that deliver consistent results batch after batch.

Operations In Australia And Other Markets

Strachan said MediPharm felt comfortable establishing operations in Australia since legislation for medical cannabis in that country is very similar to pre-recreational legislation in Canada circa 2015.
The company built a production facility in Wonthaggi, 130km southeast of Melbourne, where it offers extraction services and white label production. MediPharm is expecting to see revenue from this facility in the short-term.

Strachan told the audience at the Benzinga Cannabis Capital Conference about ongoing distribution agreements for New Zealand, the UK and Germany. Brazil is up next on the list, as the company works on achieving certification for exports into the Latin American country.

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