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MGC Pharmaceuticals Ltd

MGC Pharmaceuticals launches cannabidiol cream for psoriasis

The global market for psoriasis treatment was valued at US$7.8 billion in 2015.

MGC Pharmaceuticals launches cannabidiol cream for psoriasis
The cream helps reduce itching, flaking and dryness of skin

MGC Pharmaceuticals Ltd (ASX:MXC) has launched its first Derma Plus product -  Herbal Repair Cream containing cannabidiol (CBD) compounds, used for the daily relief of mild forms of psoriasis.

The Derma Plus range, comprising 3 products, completed successful clinical tests at a leading independent European dermatological clinic during H2 2017.

The psoriasis symptoms successfully treated through the independent tests include effective reduction of skin irritation, treatment of skin itchiness, flaking and severe dryness.

Two additional Derma Plus products for relief from acne and dermatitis conditions, the Herbal Balm and Herbal Replenish Cream, are also planned for launch during Q1 2018.

Psoriasis treatment is a multi-billion dollar market

According to the International Federation of Psoriasis Association, circa 5% people suffer from one or more forms of psoriasis, globally.

In the U.S. alone, the condition affects nearly 7.5 million people, which is roughly 2% of the population.

The global market for psoriasis treatment, which was valued at US$7.8 billion in 2015, is projected to expand at a compound annual growth rate (CAGR) of 5.1% to reach US$12.1 billion by 2024.

Successful independent European clinical testing

MGC’s product has been successfully clinically tested to confirm its efficacy in persons with psoriasis by Dr Rok Devjak, at a leading dermatological clinic in Slovenia.

Results from the clinical test program showed that the Herbal Repair Cream helps to significantly reduce itching, flaking and dryness as well as reduce the symptoms of dry skin for people with psoriasis.

The Herbal Repair Cream is now available for sale through MGC Derma’s website and other eCommerce platforms.

Quick facts: MGC Pharmaceuticals Ltd

Price: $0.04

Market: ASX
Market Cap: $53.3 m
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