Medicinal cannabis producer MGC Pharmaceuticals’ (ASX: MXC) first CannEpil shipment to the UK has landed on British soil and will be immediately distributed to the country’s pharmacies and patients.
MGC Pharma’s cannabinoid-based CannEpil product is an oil solution that can be taken orally to relieve the symptoms of severe epilepsy – particularly where conventional medications and therapies have failed to control the disorder.
The UK Government legalised the use of medicinal cannabis in the country on 1 November last year, with MGC Pharma’s recently appointed distributors Grow Biotech PLS and IPS Specials already receiving prescriptions for CannEpil.
“The first CannEpil shipment landing in the UK represents a true milestone in the history of MGC Pharma and the relief from symptoms of epilepsy,” MGC Pharma co-founder and managing director Roby Zomer said.
“The legalisation of medicinal cannabis passed in the UK only seven months ago, and the subsequent increasing interest in CannEpil leading to orders from medical professionals is a testament to the importance of our products into the fast-growing UK market and beyond.”
Mr Zomer pointed out that more than half a million people in the UK suffer from epilepsy and that the company’s CannEpil has the potential to “significantly enhance the lives of sufferers”.
It was only yesterday when MGC Pharma announced it had secured distribution agreements with Grow Biotech and IPS Specials.
Combined, the distributors have extensive networks of 5,500 pharmacies. According to MGC Pharma, the companies are also established leaders in the UK’s new medical cannabis market.
In addition to CannEpil, the companies will also sell MGC Pharma’s CogniCann product, which has been developed for dementia and Alzheimer’s sufferers.
“We are excited to be able to offer MGC Pharma’s range of products in the UK market, which provide new options to the limited range currently available to doctors in the UK,” Grow Biotech chief operating officer Hari Guliani said.
“Our agreement with MGC Pharma marks an important step towards being able to help doctors achieve the patient outcomes we are all committed to.”
UK medical cannabis market
According to MGC Pharma, UK’s medical cannabis market is expected to grow to €8.8 billion by 2028.
With such huge growth anticipated, MGC Pharma sees UK as a key market that represents a “huge opportunity” for the company as it commercialises its pipeline of phyto-cannabinoid products.
By mid-afternoon trade, shares in MGC Pharma were up 14% to $0.057.