MGC Pharmaceuticals Ltd (LSE:MXC, OTC:MGCLF, ASX:MXC) reported strong phytocannabinoid product sales in key markets of Australia and Brazil in its latest three months.
Third-quarter sales to March 2022 totalled A$625,000 (£500,000), the majority of which came from the phytocannabinoid portfolio and the core Australian market without any material ArtemiC sales in the quarter, said the statement.
Roby Zomer, co-founder and Managing Director added: "This quarter has seen strong consolidation on our company strategy as we affirm key partnerships with industry leaders and advance our clinical pipeline.
“We continue to make progress against our key goals, and cement our position as a bio-pharmaceutical company producing treatments for some of the most debilitating conditions globally."
Post the period, MGC pharma signed a new distribution agreement with Netherlands-based Sciensus Rare initially focusing on four EU countries and the United Kingdom.
MGC is also selling CannEpil into the UK with an additional distribution partner PCCA from the third quarter.
Elsewhere, the expected commercial sales from CimetrA is dependent upon Emergency Use Approvals being granted in key target markets including India and the USA, which have taken longer than anticipated to complete.