MediPharm Labs Enters Landmark Commercial Agreement with Laboratrio Teuto in Brazil
PR Newswire
BARRIE, ON, Jan. 8, 2025
-- MediPharm Labs expands its Brazilian presence where the medical cannabis market is estimated to be worth $198 million in 2024, serving over 670,000 patients.1 -- Products include full-spectrum, GMP sublingual oral solutions with extensive pharmaceutical validation and characterization. -- Teuto is one of Brazil's largest pharmaceutical manufacturers of both generic and branded medicines, with an extensive portfolio of oncologic specialty drugs, making it an ideal partner for MediPharm.
BARRIE, ON, Jan. 8, 2025 /PRNewswire/ - MediPharm Labs Corp. (TSX: LABS) (OTCQX: MEDIF) ("MediPharm" or the "Company"), a leader in pharmaceutical-grade cannabis manufacturing, is proud to announce a commercial agreement with Laboratrio Teuto ("Teuto"), a leading pharmaceutical manufacturer and marketer in Brazil.
This partnership signifies a significant milestone as MediPharm expands its reach into one of the most tightly regulated medical cannabis markets globally. MediPharm Labs is one of just a few North American companies with products to receive multiple sanitary authorizations for cannabis products while holding an ANVISA GMP licence. The Brazilian medical cannabis market is growing over 20% annually and is projected to exceed $260 million by 2026.(3) Teuto can use its existing deep roots in Brazil and sales and marketing expertise to position itself as a leader in pharmaceutical cannabis.
Teuto: A Trusted Partner in Brazil Teuto, a household name for trusted medicines in Brazil, boasts over 77 years of industry leadership. As one of the largest pharmaceutical companies in the country, Teuto operates a state-of-the-art manufacturing facility spanning over 140,000 square meters and produces more than 500 pharmaceutical products annually.(4) Teuto's extensive distribution network, national sales force and commitment to quality make it an ideal partner for MediPharm as the Company brings pharmaceutical-grade cannabis solutions to Brazilian patients. This agreement reflects MediPharm's strategic focus on leveraging its pharmaceutical GMP-certified platform to expand globally into large, complex and highly regulated markets. MediPharm's expertise aligns seamlessly with Teuto's vision to provide innovative healthcare solutions to the Brazilian market, including over 215 million people "Globally, we believe that the higher the regulatory bar, the more complex and stringent the quality standards are in a country, the better for MediPharm. Brazil is a perfect example of a large complex market, and
we are very fortunate to have a long-term partnership with Teuto, one of the leading Brazilian pharmaceutical companies." said David Pidduck, CEO at MediPharm Labs. Good Stuff Happening with LABS now :)