It appears that some have missed the relevance and importance of yesterday’s announcement, continuing to be distracted by side issues of Varm, wages, Derma income and other assorted red herrings!
With GMP certification and basically a green light for CannEpil, all we needed was an accelerant for sales – yesterday we got that with the appointment of Professor D’Souza.
‘Reillyblue’ is quite right but I see no reason why the whole 3,000 cannot be prescribed CannEpil through the good professor!
“GMP certification means that MXC is now fully licenced to manufacture cannabis-based medicine containing both THC (tetrahydrocannabinol) and CBD (cannabidiol) active pharmaceutical ingredients (APIs).
This also makes MXC one of the only companies with seed-to-pharma capabilities, making its Slovenian production facility one the most advanced of its kind within Europe.
Following the completion of all criteria in the production process of pharmaceutical-grade cannabis, this licence signifies MXC's compliance with Europe's strict quality standards for production, manufacturing and handling of pharmaceutical-grade, pot-based products.
MXC can now begin production of pharma-grade medicinal cannabis products, beginning with a full-scale manufacturing operation of CannEpil, its first medicinal cannabis treatment for drug-resistant or refractory epilepsy.
Final tests on the first batch CannEpil have been completed, and the drug will go through final independent validation by Slovenia's National Institute of Chemistry before being provided to patients in both Slovenia and Australia.
The first batch is expected to be completed in the third quarter of the year, with exportation into Australasia beginning shortly thereafter.
MXC will also produce cannabinoid-based investigational medicinal products for use across the entire MXC clinical studies and research pipelines. Link reference here
“Administered orally, it is planned the CannEpil will retail at less than A$800, which the company claims is ‘significantly lower’ that current competing product.
As part of the agreement, MGC Pharmaceuticals will leverage its existing relationships with Epilepsy Action Australia to fast-track an Australian patient market through building multiple prescribing doctors.
With less than 100 patients currently registered, the deal is anticipated to bring in A$1 million in initial revenue.”
Professor Wendyl D’Souza, apart from being a huge asset to MGC Pharma, is a “prescribing doctor” i.e he can prescribe CannEpil. He currently has 3,000 patients.
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“Assoc. Professor D’Souza is an Authorised Prescriber of Medicinal cannabis and treats over 3,000 patients with drug-resistant epilepsy from currently available treatments in Australia” (from MXC announcement 31st July)
Patients with “drug-resistant epilepsy” (also known as ‘refractory epilepsy’) is what CannEpil is specifically for.
Unless I am missing something, yesterday MXC has employed a person who can now prescribe CannEpil to his existing ‘refractory epilepsy’ suffering patients. Added to those on the list of “Epilepsy Action Australia” Does this not then equate to approx.. $30+mill per year?
Again, I stress how easy it is to be blindsided. Look at the whole picture of this business, the progress it has made in comparison to others and the market in which it is positioning itself to be a global force.
Growing pains are a fact of business life – the global Medical Cannabis business is in its infancy. IMO MXC is doing a great job in ensuring it stays on track to build a very credible and profitable Cannabis based business.
MXC Price at posting:
5.4¢ Sentiment: Buy Disclosure: Held
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