BARRIE, Ontario, July 29, 2020 (GLOBE NEWSWIRE) — MediPharm Labs Corp. (TSX: LABS) (OTCQX: MEDIF) (FSE: MLZ) (“MediPharm Labs” or the “Company”) a global leader in specialized, research-driven pharmaceutical-quality cannabis extraction, distillation and derivative products, today announced it will supply premium, pharmaceutical-quality cannabis products to Hybrid Pharm Inc. (“Hybrid Pharm”), a modern wellness pharmacy and medical cannabis sales licence holder serving patients in the Ottawa region.
Partnering with MediPharm Labs as a trusted supplier, Hybrid Pharm is unique among pharmacies in Canada in that it provides medical cannabis patients with a full in-store experience including consultation services. Hybrid Pharm’s qualified pharmacists work closely with healthcare practitioners to provide same day registration and delivery, as well as drug interaction checks and continuous care monitoring.
According to the Ontario College of Pharmacists, patients should expect their pharmacy professional to have the knowledge to assist patients who may be using cannabis to help them make the best decisions about their care to meet their needs or health goals. Pharmacy professionals are often the most accessible healthcare providers for patients and therefore have an opportunity to provide additional support and education related to the use of cannabis as it relates to a patient’s overall pharmacy care, experience and outcomes, such as helping to educate patients on known interactions of cannabis with other medications.
“Medical cannabis users value the brand-name, pharma-quality products that MediPharm Labs provides through our GMP-certified Canadian production facility, but they also crave the touch that only pharmacists and their staff can deliver and that’s what patients receive at Hybrid Pharm,” said Pat McCutcheon, Chief Executive Officer of MediPharm Labs. “We believe Hybrid Pharm’s approach to patient care aligns perfectly with our own philosophy and we are delighted to be chosen as a key supplier.”
Like any other drug, medical cannabis is best dispensed by qualified pharmacists who are equipped to help patients learn about strains, dosage forms and side effects. Hybrid Pharm took this into account when establishing its presence in the marketplace and creating informative patient workshops and seminars that are attended by first-time and long-time consumers alike. “Patients deserve an outlet to discuss their medical needs. Recreational cannabis stores are not qualified to provide medical advice,” says Dr. Rahim Dhalla, Chief Executive Officer of Hybrid Pharm.
Hybrid Pharm believes its in-store approach will eventually become the standard among Canadian pharmacies dispensing medical cannabis.
“As a full-service pharmacy dedicated to patient safety, we have very deliberately chosen to carry only trusted cannabis products that we can recommend with confidence and that’s exactly why we sought out MediPharm Labs as a supplier,” said Dr. Dhalla. “Not only do they meet all of the qualifications we look for including GMP-certified production processes, their state-of-the-art facility is right here in Ontario which means reliable supply of branded formulations for our rapidly growing patient base. We look forward to a long and productive relationship.”
Under the renewable one-year agreement, MediPharm Labs will provide its own CBD25:5 Release Formula and CBD50 Plus Formula introduced this spring, as well as special formulations of branded vaporizers to be sold by Hybrid Pharm.
About Hybrid Pharm
Hybrid Pharm is one of Canada’s first compounding pharmacies specializing in medical cannabis. Located in Ottawa, Hybrid Pharm provides a multi-modal approach to healthcare including traditional pharmacy services, compounding, medical cannabis and over-the-counter wellness and lifestyle modification programming. Hybrid Pharm’s goal is to provide a higher quality experience and therefore a higher quality of life for our patients. Using traditional and non-traditional methods, we embody a balanced approach to treat the mind, the body, and the soul. Please visit www.hybridpharm.com for more information.
About MediPharm Labs
Founded in 2015, MediPharm Labs specializes in the production of purified, pharmaceutical-quality cannabis oil and concentrates and advanced derivative products utilizing a Good Manufacturing Practices certified facility with ISO standard-built clean rooms. MediPharm Labs has invested in an expert, research driven team, state-of-the-art technology, downstream purification methodologies and purpose-built facilities with five primary extraction lines for delivery of pure, trusted and precision-dosed cannabis products for its customers. Through its wholesale and white label platforms, MediPharm Labs formulates, develops (including through sensory testing), processes, packages and distributes cannabis extracts and advanced cannabinoid-based products to domestic and international markets. As a global leader, MediPharm Labs has completed commercial exports to Australia and is nearing commercialization of its Australian extraction facility. MediPharm Labs Australia was established in 2017.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION:
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate to, among other things, supply of products to Hybrid Pharm for distribution pursuant to the agreement. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; the inability of MediPharm Labs to obtain adequate financing; the delay or failure to receive regulatory approvals; and other factors discussed in MediPharm Labs’ filings, available on the SEDAR website at www.sedar.com. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, MediPharm Labs assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.