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MGC Pharma has been granted government approval to import its phytomedicine CimetrA™ into India as a final step towards obtaining Emergency Use Authorisation for the treatment of patients with COVID-19.
· Emergency Use Authorisation is the registration process for medicines approved for the treatment of COVID-19 around the world.
· Emergency Use Authorisation would enable MGC Pharma to market and sell CimetrA™ as an approved medicine for the treatment of COVID-19 in India, and potentially in other territories under international Mutual Recognition protocols for medicines.
· Medopharm Private Ltd (Medopharm), one of the leading manufacturers and exporters of pharmaceutical products in India, is managing the Emergency Use Authorisation process for CimetrA™ in India on MGC Pharma's behalf.
· Medopharm has been appointed importer for CimetrA™ in India once the Emergency Use Authorisation has been granted
Nice to hear someone being positive for a change. Market is primed and India approval imminent. SP ready to explode. I wonder what a $100m contract with the Indian government would do to the SP. Around 900,000 doses of Cimetra. Would hardly be enough to tackle epdemic in India. Multiple that by 10, 100 or 1000 and that's big $ and doesn't even take account of USA or other countries. Quite happy to sit and watch myself get very rich!!
MGC Pharmaceuticals Ltd (LSE/ASX: MXC) is a European based bio-pharma company developing and supplying affordable standardised phytomedicines to patients globally. The Company's founders were key figures in the global medical cannabis industry and the core business strategy is to develop and supply high quality phytocannabinoid derived medicines for the growing demand in the medical markets in Europe, North America and Australasia. MGC Pharma has a robust product offering targeting two widespread medical conditions - epilepsy and dementia - and has further products in the development pipeline.
Employing its 'Nature to Medicine' strategy, MGC Pharma has partnered with renowned institutions and academia to optimise cultivation and the development of targeted phytocannabinoid derived medicines products prior to production in the Company's EU-GMP Certified manufacturing facility.
MGC Pharma has a number of research collaborations with world renowned academic institutions, and including recent research highlighting the positive impact of using specific phytocannabinoid formulations developed by MGC Pharma in the treatment of glioblastoma, the most aggressive and so far therapeutically resistant primary brain tumour.
MGC Pharma has a growing patient base in Australia, the UK, Brazil and Ireland and has a global distribution footprint via an extensive network of commercial partners meaning that it is poised to supply the global market.
So RNS on Friday, MGC poised to supply global markets. Seems company is showing real confidence in their products and sales are ever increasing. Single USA order of $3m for CimetrA is just the start. India could order multiple times this value and that does include the rest of the global market. News from India is imminent and if approval given as statement on Friday suggests, we're onto something big. News of USA deal moved SP 85% in a day. Global approvals could move this multiple times. CimetrA on the verge of something big.
Those with patience will be rewarded
One other observation, if the efficacy of CimetrA is as good as we are led to believe and rates well with other antiviral drugs which cost £700 per treatments, I wonder which governments will purchase. CimetrA, cost price less than £100 vs other expensive antiviral drugs.
Perhaps someone with inside information, who knows imminent news. News from India due soon and progress in USA with approval. Either of these, leading to positive news could propel the share price into oblivion. A lot of pessimistic investors on here, who expect progress NOW or even yesterday. People who sell will be kicking themselves they didn't hold or add to their portfolio when this company realises its potential.
Looks like ArtemiC going to break into North America and Mexican markets. All good news. At some point soon the SP must start reacting to this news. This is going to translate into signing deals.
We need something good to reverse downward trend. Hopefully this will happen soon.
Getting a deal with Russia would be a massive boost. Maybe this is one of the several Eastern European they are working with for a deal.
From what we're being told CimetrA is effective and more affordable and it can be administered at home rather than hospitals. Covid is going nowhere in a hurry and sure there will be plenty of demand. CimetrA is 1/7 of the price of antiviral drugs. We just need USA to say its a success and could lead to universal use. Not forgetting this is only one of MGCs treatments. Fingers crossed more good news on its way.
Important to keep up to speed with the news flow
Fill your boots
If you have been keeping track of MGC Pharma’s announcements across the late summer, you may have seen a series of updates relating to CimetrA™, specifically our Supply & Distribution agreement with partner AMC Holdings and their subsequent initial product order of $3 million in the relationship’s first year. This partnership has opened the door for us to enter the world’s largest healthcare market, the United States, as well as build a platform to present CimetrA™ as a viable treatment for Covid-19.
Since that announcement in September, we’ve gone from strength to strength, fast-tracking sales of CimetrA™ and working with the likes of the University of South Florida in Tampa and the Holy Cross Hospital in Fort Lauderdale, to help push our approval process in the States, and major Indian distributor, Medipharm, on Emergency Approval in India. We also have approvals with several countries across Eastern Europe on the horizon. All of these efforts are extensive and laborious regulatory processes that we are putting many resources towards, for a few reasons: a) the more approvals the better, and b) we believe in this product and its potential to be a game-changer for dealing with COVID-19 positive patients.
For more specific information about CimetrA™ and the way it works, please review the below presentation which summarizes things very nicely, but I’ll provide an even higher level review with a comparison point you may find interesting.
Last week, a big fuss was made about Merck applying for Emergency Authorization for their, Molnupiravir, an antiviral that has shown efficacy in “reducing the risk of sick people finding themselves hospitalized”. The rate of efficacy for this claim was approximately 50%. The price of this product is targeted at 700 dollars. In our clinical trials, CimetrA™ has been proven to halt the progress of the Cytokine Storm, the chief cause of death in COVID-19. The price of CimetrA™, or to be specific, the price that we recommend it be sold to consumers, is below 100 dollars. Additionally, CimetrA™ can be used at home by the patient and has no side effects.
In summary, MGC has a more affordable and effective product, which is safe to use and easier to dispense (a very important statistic as well), to combat COVID-19 infections, available on the market. We have come by our data and our formulation in a manner that is consistent with every product to come out of big pharma in the past thirty years – quantified, tested, verified, double-checked and then brought to market.
Again, this is with no disrespect to Merck and their accomplishments; rather it is a testament to the really great work the MGC team have put in during recent months to make CimetrA™ viable as a COVID-19 treatment a near-reality.
What does the supply of CimetrA™ mean to both patients and healthcare providers within our global markets?
Firstly, for patients, it provides a whole new treatment potential to fight COVID-19. Dosage will
Read Ruby's tweet on 15th October https://twitter.com/MGC_Pharma/status/1450087267222048771?t=d878h3VSzkKpTzUVnnw8lQ&s=19
7 Eastern European countries in the pipeline and India within touching distance. BIG CONTRACTS coming which in my mind only means potential for big increases in the SP!! For those people not interested, just move on and find another company
I don't suppose a $24m minimum contract with the USA is a revenue maker, with potential for more. Deals are coming if only people had some patience
First order of 3m placed for CimetrA by AMC. Seems USA deal is alive and well. Last week seems so many people went negative. Hopefully this news will translate into some positive PMA and a scurry for all those sold shares loll
All of a sudden there seems a lot of negativity about MXC, think people need patience, still loads of potential. Research and trials still ongoing and when regulatory approval arrives will open the market for some significant deals. We would all like deals to move faster but we're talking about people's lives so medical research won't be rushed. Patience required. Sure upside will come.
Hopefully trials will lead to multi-million $ orders.