Publicly traded marijuana extraction specialist Medipharm Labs Corp (TSE: LABS) (OTCMKTS: MEDIF) (FRA: MLZ) has officially entered Latin America through a Costa Rican supply agreement.
The Ontario-headquartered company announced on Jan. 13 that it would begin shipping its medicinal cannabis products to a subsidiary of Remidose Aerosols in the region. Merchandise MediPharm will provide include oils, flower, metered dose inhalers and tinctures.
The news follows Costa Rica officially starting regulated medical cannabinoid sales in June after years of advocacy efforts and procedural hurdles.
“Partnering with MediPharm Labs allows us to offer patients access to some of the highest quality, GMP-certified cannabis products available globally,” said Remidose President Michael Mayne in a news release from MediPharm.
Prince Edward Island-based Remidose specializes in making medical cannabis inhalers, oral and topical sprays and lotions. Partnering with MediPharm will enable Remidose to expand its offerings made available through Remidose LATAM.
“As a shareholder i have to say that the supply deal is a good step further but we need cooperations with Big Pharma,” one of the MediPharm’s investors commented.
The new definitive supply arrangement with MediPharm follows Remidose entering a distribution deal with Australia’s medical cannabis and psilocybin producer Bioxyne Ltd (ASX: BXN) (FRA: PR8) last month. It will see that Bioxyne supplies Remidose’s Latin American unit with 40,000 THC pastilles/lozenges per annum that it will distribute throughout Costa Rica and Panama.
“Building today the alliances that will define the future of pharmaceutical-grade medical cannabis in the region,” said Remidose LATAM CEO Ludwig Müller Vizcaíno with regard to the December agreement.
This is not the first time MediPharm and Remidose have collaborated. The companies initiated their first business combination in 2024. In this case, MediPharm gained exclusive global rights to Remidose’s medical cannabis delivery technologies.
Read more: Pura Vida! Costa Rica officially starts medical cannabis rollout after years of delays
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