MediPharm Labs Corp. announced that Canadian produced GMP Beacon Medical cannabis oil and inhalation cartridges have now been launched in the Australian medical market. MediPharm is uniquely positioned to service this expanding medical market as it holds an Australian GMP license from the Therapeutic Goods Administration (TGA), complemented by its GMP status from Health Canada (Drug Establishment License) and US FDA.

In July 2023, the TGA revised import and medical cannabis regulations, requiring all products to meet cGMP standards. This bans the import of products from non-GMP sources, limiting MediPharm's competition in the manufactured cannabis product segment. The cannabis oil portfolio is comprised of a high CBD Isolate (THC free) oil; a balanced oil and a THC dominant full spectrum oil made with Beacon's popular medical flower strains.

The inhalation cartridges include flavour-forward options popular with patients in the Canadian market and strain-specific full spectrum cartridges that utilize flower varieties already favored by Beacon Medical patients. With Beacon Medical's Pink Kush and GSC products now available in flower, oil and inhalation formats, the Company provides physicians and patients with three unique delivery methods to consume the same full spectrum strains. This option uniquely positions the Beacon Medical brand in international medical cannabis markets.

Deliveries of inhalation cartridges to patients began this week, and cannabis oils are scheduled to ship from Canada this week. Beacon Medical Australia looks forward to educating and collecting feedback on these products from physicians and patients with the help of its recently expanded medical scientific liaison field team. This allows MediPharm Labs further access to the Australian medical cannabis market projected to reach nearly $200 million in 2023, according to Satista.