Medical cannabis patients in Ontario will soon be able to register for and have MediPharm Labs, Corp. (TSX: LABS and OTCQX: MEDIF) products delivered within the same day.
The Canadian extractor revealed the partnership with pharmaceutical company Hybrid Pharm, Inc. on Wednesday. Hybrid Pharm offers same-day registration and delivery. Its team of pharmacists also do drugs interaction checks and continuous care monitoring, MediPharm said in a statement.
“Medical cannabis users value the brand-name, pharma-quality products that MediPharm Labs provides through our GMP-certified Canadian production facility, but they also crave the touch that only pharmacists and their staff can deliver and that’s what patients receive at Hybrid Pharm,” CEO Pat McCutcheon said in the statement.
“We believe Hybrid Pharm’s approach to patient care aligns perfectly with our own philosophy and we are delighted to be chosen as a key supplier.”
NEWS: MediPharm Labs to supply pharma-quality cannabis products to @hybrid_pharm a modern wellness pharmacy to offer NEW same-day registration & delivery service of #MedicalCannabis $LABS $MEDIF $MLZ https://t.co/Mg0b99mgiW pic.twitter.com/tK97DP4ysS
— MediPharm Labs (@MediPharmLabs) July 29, 2020
Read more: MediPharm watches revenues fall 65 per cent
Hybrid Pharm is unique because it offers patients full in-store consultations, MediPharm says. The pharmacy’s approach to dispensing medical cannabis in-store, instead of the industry norm of mail orders, will hopefully become standard across Canada, the company added.
MediPharm was an attractive business partner because of its consistent quality, Hybrid Pharm CEO Rahim Dhalla said.
“As a full-service pharmacy dedicated to patient safety, we have very deliberately chosen to carry only trusted cannabis products that we can recommend with confidence and that’s exactly why we sought out MediPharm Labs as a supplier,” Dhalla said.
“Not only do they meet all of the qualifications we look for including GMP-certified production processes, their state-of-the-art facility is right here in Ontario which means reliable supply of branded formulations for our rapidly growing patient base,” he added.
MediPharm’s stock dipped a fraction of a cent on Thursday to $1.10 per share. Like most of the cannabis industry, the extractor’s stock has been slowly declining since the summer of 2019.
Top image of MediPharm founders Keith Strachan (left) and Pat McCutcheon (right). Image via MediPharm