Sign up Australia
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 our Crypto, Blockchain and Cannabis Telegram group here
View full MXC profile View Profile

MGC Pharmaceuticals Ltd Timeline

Related Articles

Cyrptocurrencies
June 27 2018
Lancor Scientific is aiming to carry out an initial coin offering by issuing Medici, a new currency based on Ethereum to help Tumour Trace to fund further development
surgeons working
September 03 2018
Chief executive Steve Couldwell also told investors the regenerative medicines specialist had identified a number of potential new commercial opportunities it was “actively pursuing”
3d rendering of an antibody
July 24 2018
It is teaming up with Bach BioSciences, a company commercialising the research of William Bachovchin, a professor at Tufts University School of Medicine, Boston

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© 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