Wow, over the counter CBD natural health product...is LABS telling us the regulatory control environment for CBD going to change? See first bold and underlined. The second bold and underlined....this opens the door now for global pharmaceutical companies to call LABS as their go to source for cannabis sourced pharmaceutical API's. Because LABS mentions modified generic drugs...that is a huge segment making something old new and better. The ANDA, imho, could be for a new class of antibiotics or possibly for a new class of IBS drugs.
This is huge news and I hope Macpoor is feeling a bit happier today. Don't forget, stuff as much LABS as you can afford to into your TFSA without exceeding your contribution limit and DO NOT buy and sell on it, only ADD more as you can. You do NOT want CRA coming at you with allegations of day trading or using your TFSA as a regular stock trading account by constantly buying and selling....just BUY and hold it in your TFSA. When you cash out, it's tax free or a GIC generating interest income from any sale gains on LABS will also generate tax free income.
This US FDA inspection was the first of its kind for a purpose-built cannabis facility in Canada and rare for a global GMP facility that also manufactures botanical THC. This further solidifies MediPharm's position as a global leader in the pharmaceutical development and production of pharmaceutical cannabinoids. This distinction will enable the company to be a leader in future emerging markets, including drugs containing cannabinoids, international medical cannabis programs, and over the counter CBD as a non-prescription natural health product.
The full acceptance of MediPharm's API DMF, of which the FDA inspection is a major step, allows for a number of commercial opportunities for the Company. This will allow MediPharm to further market cannabidiol API to pharmaceutical companies for new novel drugs, generic drugs, modified generics drugs (FDA 505(b)(2)), and clinical trial materials.