In a significant stride for the company, MGC Pharmaceuticals Ltd (LSE:MXC, OTC:MGCLF, ASX:MXC) has received a second order from US-based AMC Pharma worth US$1 million for the production of ArtemiC™, an oral spray made up of artemisinin, curcumin, Vitamin C, and Boswellia serrata.
The recent order represents a major boost to the sales of ArtemiC in the US, propelling a considerable expansion of its distribution across the country.
The order follows a new supply agreement by AMC to disseminate the product across over 100 Holistic and Wellness Chiropractic offices in California and Florida.
The order from AMC, worth US$1 million, is the second such purchase from AMC, marking total orders to date of over 100,000 units of ArtemiC by AMC.
Secured by an immediate down payment of US$150,000, the order underscores the growing demand for ArtemiC in the US.
Confidence for future growth
MGC CEO and managing director Roby Zomer said: “This order from AMC validates ArtemiC for the US market and demonstrates our ability to supply an FDA authorised product in a world leading market.
“This order, combined with AMC’s new supply agreement to distribute across the US, gives us confidence for the future growth of MGC.”
About ArtemiC
ArtemiC is a clinically tested all-natural product developed by MGC Pharma, incorporating partner Swiss PharmaCan (TSX-V:MJN) AG and GraftBio® SNEDD technology, which increases the bioavailability of Artemi 's active ingredients at cell level.
ArtemiC Phase 2 Clinical Trial undertaken in 2020 demonstrated a range of benefits for patients suffering from moderate COVID-19.
Subsequent trials have proven ArtemiC to be an effective anti-inflammatory across a wide range of chronic diseases.