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Pharma & Biotech

MGC Pharma reports productive quarter

MGC Pharmaceuticals Ltd (LSE:MXC, OTC:MGCLF, ASX:MXC) said it had been a productive three months to September for the medical cannabis specialist.

An order for US$1 million from AMC Pharma for ArtemiC (an Over-The-Counter (OTC) version of its CimetrA) was the highlight, it said.

AMC is also to distribute products to over 100 Holistic and Wellness Chiropractic offices in California and Florida, the group added in its cashflow statement.

Revenue in the quarter was in line with the quarterly average of sales, said the statement.

Cash at the September period end was A$417,000.

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