if you look at the announcement on 20/11/2017 - definitive supply agreement executed to bring first medical cannabis medicine to australian market. If you read the first page which was cut and paste per below i agree that we were led to believe cannepil was to be sold in the early 2018 but gmp has been held up for 6 months for what ever reason and ready hopefully tomorrow but i believed that early 2018 meant that we would have sales months ago
"MGC Pharmaceuticals Ltd (ASX: MXC or “the Company”) is pleased to announce that it has executed a binding definitive exclusive supply agreement with leading Australian specialist pharmaceutical wholesaler and distributor HL Pharma Pty Ltd (HL Pharma) to bring its adult epilepsy product, CannEpil to the Australian market from early 2018.
The signing of the Definitive Agreement follows the announcement of a binding Heads of Agreement with HL Pharma on 1 November 2017. The Definitive Agreement provides a clear pathway for the delivery of the first MGC Pharmaceuticals medical cannabis products to Australian epilepsy patients, once HL Pharma has obtained all necessary approvals for the importation of the product.
It also has the potential to generate significant annual revenues for MGC Pharmaceuticals with the product delivering strong gross profit margins, as the Company plans to manufacture the product at its Slovenian facility currently undergoing GMP certification.
Revenues from only the initial registered patients is expected to be approximately $1m in year 1, which is currently is less than 100 but expected to grow significantly in 2018/19. According to EAA, approximately 25,000 people are diagnosed with epilepsy each year and it is estimated that up to 240,000 Australians are currently living with epilepsy. MGC Pharmaceuticals’ CannEpilTM product is targeted for drug-resistant epilepsy (DRE), also known as refractory epilepsy, which accounts for approximately 30% of all epilepsy cases (approximately 70,000 persons in Australia)."
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