A deeper dissection of our Malta operation: what it means for the company & the industry
A word from Ron Lipsky, Vice President, Business Development & International Relations at MGC Pharmaceuticals.
It’s been a long summer/winter (we ARE in Europe) of intense work for the team at MGC Pharma, which hopefully explains my absence on Medium. Right now we have so many exciting projects in the pipeline, and we’ve spent the last few months with our heads down, working to bring them to fruition. This has also meant maintaining the blog has taken a bit of a back seat, but I’ve put some time aside today to end my leave of absence on here and talk more about what the recent approval of our Malta-based operation means for our brand and our industry.
I’m also writing this blog post because, as always, transparency is important and, as our investors and supporters, we want to share the details of our triumphs and successes with you.
Since my last post (and as you’re probably already aware), the MGC Business Development Team has been closing a significant deal that means immense opportunities for MGC Pharma in the European market. And now, as the dust settles on the successful closure of that deal, it’s time to talk about what this means for MGC Pharma’s long term vision as a leading Phytocannabinoid Biopharma company.
On the 23rd of March, the Maltese Parliament made amendments to their Drug Dependence Act, making Medical Cannabis legal in their country. This was very welcome news for patients suffering from previously untreatable diseases, such as Epilepsy, who can now get access to the treatment they so desperately needed.
It was also very good news for us as we had been working with the government in Malta for months, attempting to secure an application to replicate our existing platform and pipeline there. This legislative change was also the first sign that the wheels were being set in motion, as indicated they would from our previous conversations on the ground. Just days later, we learned that we had been given a letter of intent from the development branch of the Maltese government, informing us that we were to be awarded a full Medical Cannabis production and cultivation contract.
Now, we’re a relatively modest bunch here at MGC Pharma, because obviously we’re working towards something so much bigger than ourselves, but if an opportunity has ever called for us to toot our own horn — it’s this one.
I’ll start with the fact that this deal puts more momentum than ever behind our trajectory to becoming a leading Phytocannabinoid Biopharma company that has the ability to compete in this rapidly emerging and developing market. This deal wasn’t an agreement with another Cannabis company, pharmaceutical company, or distributor — it was with a government. This deal also legitimises everything we have done to date in Slovenia, the Czech Republic, and Australia, with each operation having a part to play in the application process.
Secondly, this wasn’t just a win for MGC Pharma, it was a win over other Cannabis companies from all over the globe, including the biggest and most significant players in the market, equipped with endless manpower and unlimited cash flows, who were contending alongside us.
Out of all of these companies, with all of their resources, we were the company to receive the first LOI from Malta Enterprise.
Why? Because we were professional in our dealings, consistent in our answers, curious in our enquiries, and readily available for communication. Malta Enterprise felt like they had a real partner, as opposed to a company that was simply demanding land. This is the way we do business at MGC Pharma, and we believe it’s the correct way to build relationships and brand value for the future.
Now, you might be asking what this agreement is and what it means for our shareholders and for the future of Phytocannabinoid Medications.
Primarily, it means that MGC Pharma will soon commence construction of a state-of-the-art Medical Cannabis production and cultivation facility in Malta. It also means that MGC Pharma will be able to produce THC and CBD strains of Medical Cannabis used in the production of its GMP-grade pharmaceutical products. This will then be sent out to global markets and will enable the supply of Medical Cannabis products directly into the emerging European markets, including Germany.
Furthermore, Malta’s warmer climate means that we will be able to produce more of our exclusive products at lower costs, producing savings that will be passed directly onto patients.
This agreement means we’re also granted a unique and exclusive geographic positioning to import our products into the most important markets in existence today. Using Malta’s ports and ease of access to multiple continents, we’ll be able to expand our international reach and secure our position as one of the leading Phytocannabinoid Biopharma companies in the world.
But perhaps most importantly, this agreement means we are one step closer to our vision of a global, seamless supply chain ensuring our patients have easy access to the crucial medication they require to maintain a quality of life they deserve.
This truly is an amazing opportunity for MGC Pharma. In one fell swoop, it has ensured our position as an important global player in this emerging market, while helping MGC Pharma reach our vision of creating a healthier world through Medical Cannabis and Phytocannabinoid Biopharmaceuticals.
It truly is an exciting time to be a part of the MGC Pharma family.