Proactive Investors - Run By Investors For Investors

MGC Pharmaceuticals commencing production of CannEpil for epilepsy

Pre-registered patients for the drug is set to generate over $1 million in sales.
medicinal cannabis indoor crop
Once the first batch is produced, it will be inspected by the GMP regulatory body

MGC Pharmaceuticals Ltd (ASX:MXC) is today commencing production of its first batch of CannEpil at its European medicinal cannabis facility.

CannEpil is MXC’s first pharmaceutical-grade medical cannabis product targeting people with drug-resistant epilepsy.

Good Manufacturing Practice certification

Production was able to start at the manufacturing facility thanks to the receipt of its interim Good Manufacturing Practice (GMP) certification.

Once the first batch is produced, it will be inspected by the GMP regulatory body.

This is the final regulatory process before full GMP certification can be granted to MGC’s European manufacturing facility.

Expected to generate over $1 million in annual sales in the Australian market

Once the distribution of CannEpil commences, it is expected to generate more than $1 million in annual sales in the Australian market in its first year.

This estimate is based on the near-100 patients already registered but the Australian market opportunity for MGC is much larger.

MGC estimates 72,000 people are diagnosed with drug-resistant epilepsy in Australia.

MGC’s co-founder and CEO Roby Zomer said: “The production of our first CannEpil batch is a milestone, and leaves us well positioned to achieve certification and commence full-scale commercial production in the next few months.”

Join Proactive’s Crypto, Blockchain and Cannabis Telegram group here
View full MXC profile View Profile

MGC Pharmaceuticals Ltd Timeline

Related Articles

The R&D programme is intended to address the increasing prevalence of obesity and diabetes using smart siRNA
October 31 2018
The health sciences company noted that the plan was formulated at a recently held two-day intensive workshop which together leading scientific teams from the QIMR Berghofer Medical Research Institute in Brisbane and Murdoch University in Perth
November 01 2018
The 35,000 sq ft automated facility is equipped with proprietary fertigation, operational and security systems
November 14 2018
Ascent, viaThirty Eight Hemp Corp, will exploit the hemp market via its strategic relationship with AgTech Scientific

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use