Delivery of US$1m order of ArtemiC to AMC Holdings

RNS Number : 5224I

MGC Pharmaceuticals Limited

05 December 2022

 

MGC Pharmaceuticals Ltd.

Delivery of US$1 million order of ArtemiC^TM

to AMC Holdings completed

5 December 2022

ASX, LSE: MXC

Key Highlights :

· US$1,000,000 delivery of ArtemiC^TM to US distribution partner AMC Holdings completed.

· The ArtemiC^TM delivery is MGC Pharma's largest delivery into the US market to date.

MGC Pharmaceuticals Ltd (' MGC Pharma' or ' the Company ') a European based pharmaceutical company specialising in the production and development of plant inspired medicines, is pleased to announce that it has completed the delivery of its largest order of ArtemiC™ to US distribution and marketing partner, AMC Holdings Inc. (AMC).

Delivery to AMC Holdings

As announced in MGC Pharma's market release titled "Operations Update" on 20 October 2022, AMC Holdings, amended the terms of its US$1,000,000 order of ArtemiC™ Rescue, with the product to be delivered in a single shipment, and to be ready for immediate supply in the US owing to increasing demand.

Delivery of this large consignment of ArtemiC^TM has now been completed, marking the first substantial commercial delivery of the product under the AMC US supply and distribution agreement to date.

Brent W. Yessin of AMC commented, "AMC are excited to bring the first commercial order of ArtemiC^TM into the US. It will be available both on-line and through independent pharmacies.  Since the pandemic, the federal government has stopped paying for many treatments the cost burden has shifted to the individual states and consumers. With this change in policy AMC are pleased to be in a position offer the market a natural, plant based and clinically tested treatment option[1]"

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Authorised for release by the Chairman, for further information please contact:

MGC Pharmaceuticals Ltd Roby Zomer CEO & Managing Director [phone] [e-mail]	MGC Pharmaceuticals Ltd David Lim Company Secretary [phone] [e-mail]
UK Financial and Corporate Advisor Hannam & Partners Rupert Fane / Nilesh Patel [phone] [e-mail] / [e-mail]	UK Broker Turner Pope Andy Thacker [phone] [e-mail]
UK PR Advisors Tavistock Charles Vivian / Tim Pearson [phone] [e-mail]

About MGC Pharma

MGC Pharmaceuticals Ltd (LSE: MXC, ASX: MXC) is a European based pharmaceutical company, focused on developing and supplying accessible and ethically produced plant inspired medicines, combining in-house research with innovative technologies, with the goal of finding or producing treatments to for unmet medical conditions.

The Company's founders and executives are key figures in the global pharmaceuticals industry and the core business strategy is to develop and supply high quality plant inspired medicines for the growing demand in the medical markets in Europe, North America and Australasia.

MGC Pharma has a robust development pipeline targeting two widespread medical conditions and has further products under development. 

MGC Pharma has partnered with renowned institutions and academia to optimise the development of targeted plant inspired medicines, to be produced in the Company's EU-GMP Certified manufacturing facilities. 

MGC Pharma has a growing patient base in Australia, the UK, Brazil and Ireland and has a global distribution footprint via an extensive network of commercial partners meaning that it is poised to supply the global market.

Follow us through our social media channels:

Twitter: @MGC_Pharma

Facebook: @mgcpharmaceuticals

LinkedIn: MGC Pharmaceuticals Ltd.

Instagram: @mgc_pharma

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[1] https://www.asx.com.au/asxpdf/20201215/pdf/44qyzvd1ggtz3z.pdf

 

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