MEDICINAL cannabis company MGC Pharmaceuticals has announced via the ASX that it has signed an exclusive supply agreement to bring its epilepsy product CannEpil to the Australian market.
The agreement with Australian pharmaceutical distributor HL Pharma is expected to generate around $1 million a year in revenue for MGC from the approximately 100 patients already registered, with a potential market size of more than 70,000 Australians suffering from drug-resistant therapy.
This binding Definitive Agreement comes after a Heads of Agreement signed with HL Pharma 01 Nov and is anticipated to lead to a marketed product in 2018.
The company said it had been building an Australian patient market through its existing relationship with Epilepsy Action Australia with the registration of prescribing doctors.
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