“With the ongoing outbreaks of COVID-19 not only in Europe, but around the world, we expect further growth in demand for COVID-19 treatment for those people who have contracted the disease,” says the MD.
MGC Pharmaceuticals Ltd (LSE: MXC, OTC: MGCLF, ASX: MXC) has completed A $ 1 Million order for ArtemiC.TM for the leading European distributor of nutraceuticals Swiss PharmaCan (TSX-V: MJN) AG (SPC) and is now ready to deliver the order.
Under the terms of the agreement, the total purchase order value of approximately € 650,000 (AU $ 1 million) will be received by MXC by early December, enabling the company to achieve its best quarter and half-year revenue to date.
ArtemiCTM is a proprietary MGC Pharma application based on SPC’s intellectual property, MyCell technology.
The treatment is now available in many countries and is designed to provide support and relief to COVID-19 patients. MGC Pharmaceuticals is the only manufacturer of ArtemiCTM and SPC is the main distributor.
“We expect continued growth”
MGC Pharmaceuticals Co-Founder and Managing Director Robie Zomer commented, “The partnership between MGC and Swiss PharmaCan (TSX-V: MJN) has been the cornerstone for MGC’s continued sales and revenue growth in 2021 in the European COVID-19 treatment market. ArtemiCTM…
“With the ongoing outbreaks of COVID-19 not only in Europe but around the world, we expect further growth in the demand for COVID-19 treatment for those infected with the disease.
“MGC believes its COVID-19 treatment is a cost-effective alternative to help the public health system manage the growing number of patients requiring medical intervention.”
MGC has an existing food additive manufacturing facility in Slovenia capable of producing this and future orders from SPC, which – following the issuance of a free trade certificate in Germany and the EU – will expand access to new markets.
Both companies will continue to seek permits for ArtemiC.TM as a supplement in several countries to provide support for COVID-19 patients and relieve their symptoms.
Concurrently, MGC Pharmaceuticals says it continues to make progress in the long-term development of the investigational drug CimetrA.TM as part of ongoing clinical research and emergency use applications in India and other national regulatory and medical agencies.
About MGC Pharmaceuticals
MGC Pharmaceuticals is a European biopharmaceutical company that develops and markets affordable, standardized medicines based on phytocannabinoids.
The company collaborates with world renowned academic institutions.
MGC Pharma has a growing patient base in Australia, the UK, Brazil and Ireland, and has a global distribution network through an extensive network of commercial partners.