Market Overview

MediPharm Labs To Supply VIVO Cannabis Subsidiary In Australia Partnership

Share:
MediPharm Labs To Supply VIVO Cannabis Subsidiary In Australia Partnership

Canadian cannabis company MediPharm Labs Corp. (TSX: LABS) (OTCQX: MEDIF) has inked a supply agreement with VIVO Cannabis Inc. (TSX:VIVO) (OTCQX: VVCIF) in an effort to expand in the Australian market.

Under the one-year deal — which is subject to renewal — MediPharm Labs Australia agreed to provide VIVO's Beacon Medical Australia with GMP-certified CBD and THC cannabis oil products. In addition, Beacon Medical will distribute them further under its branding.

Last month MediPharm Labs Australia confirmed it has obtained GMP Certification from Australian Therapeutic Goods Administration.

“We are excited to be working with VIVO to bring high quality products to medical consumers across Australia and other emerging markets,” said MediPharm Labs CEO, Asia Pacific, Warren Everitt in a Friday press release.

VIVO CEO Barry Fishman said the team-up with MediPharm Labs will "leverage their GMP production capabilities to accelerate our Australian market presence.”

“VIVO’s international efforts remain focused on the emerging Australian and German markets, and we continue to seek out partnerships with organizations that have proven track records,” he added.

MediPharm Labs also said its shipment of 35,000 units of formulated finished products and bulk extract to its Australian subsidiary - intended to back up sales revenue – Is finalized.

Meanwhile, last month MediPharm Labs Australia has debuted in Europe, by signing a supply deal with a subsidiary of Cannaray Ltd.

The company agreed to supply Cannaray’s Therismos Ltd. with cannabis oil products.

The expansion to the European market has come on the heels of another supply agreement the MediPharm Labs’ subsidiary entered into with New Zealand company Cannasouth (NZSD:CBD).

 

Related Articles (MEDIF)

View Comments and Join the Discussion!

Posted-In: cannabis industry cannabis sales CBDCannabis News Retail Sales

Cannabis Movers