PERTH, AUSTRALIA: MGC Pharmaceuticals Ltd announced the launch of a new proprietary affordable prescription medicine line to be branded as Mercury Pharma, specifically for the Australian and New Zealand markets.

MGC is European based ‘Seed to Pharmacy’ bio-pharma company focused on developing and commercialising cannabinoid derived medicines.

The first product being “Mercury Pharma 100” (MP100), a 100mg/mL CBD solution that will be prescribed by health care professionals in Australia and New Zealand, initially distributed by Australian medicinal cannabis distribution and logistics specialist Cannvalate Pty Ltd and Health House International Pty Ltd in due course.

Purchase orders for MP100 already received have totalled over 2,000 units to be delivered in January and February, which will deliver an immediate and positive impact on the Company’s Q12020 revenues.

Roby Zomer, Co-founder and Managing Director of MGC Pharma, commented: “The launch of Mercury Pharma brand and “MP100” so early in 2020 bodes well for the year ahead as MGC Pharma continues to follow its agenda to provide cost effective affordable standardised phytocannabinoid based medicines to patients globally.

“The Mercury Pharma brand brings an alternative affordable high CBD prescription medicine to the Australian and New Zealand markets only, as well as adding a new product line to MGC Pharma’s offering.

“Without competing withour existing EU GMP Pharma grade medicines, we believe we will be a serious competitor for already available cannabis derived products, and look to disrupt the market. We have already seen a positive response to MP100 with purchase orders totalling over AU$270,000, which will have an immediate and positive effect on our revenues in Q1 2020.

“With ever increasing prescription numbers for our pharma-grade products, we expect to see a further significant increase in patient and prescription numbers in the relative short term as MP100 is increasingly available in Australia and New Zealand, and as we continue to develop additional formulations for the Mercury Pharma brand.”

Darryl Davies, COO of Cannvalate Pty Limited, commented: “Cannvalate are delighted to introduce MGC Pharma’s latest range across our network. MP100 is a high-quality, cost effective medication option that we expect to be extremely well received by both prescribing physicians and patients. MXC continue to work towards lowering barriers for Australian patients and we expect this will be the start of significant growth in patient numbers for 2020.”