Today, MGC Pharmaceuticals Ltd. (ASX:MXC) (OTC:MGCLF) announced that the company signed a 5-year medical marijuana supply and distribution agreement with Lenis farmacevtika, a leading European pharmaceutical distribution company.
Currently distributing drugs for major pharmaceutical companies like Gilead Sciences, Inc. (NASDAQ:GILD) in 8 different European countries, Lenis is large enough to offer MGC Pharmaceuticals the necessary reach to grow and capture market share.
Under the new agreement, MGC Pharma will be supplying its medical marijuana flower material as well as pharmaceutical products via Lenis to Central and Eastern Europe. The countries that Lenis will be distributing these products to include Latvia, Lithuania, Estonia, Slovenia, Bosnia and Herzegovina, Serbia, Macedonia, Hungary, Romania, Bulgaria and Poland. The two companies intend to jointly market products to territories like Italy, Greece, Croatia and Germany.
For more information on the MGC Pharma deal with Lenis, be sure to check out the full update on the ASX site here. For more Australian marijuana stocks, check out our ASX marijuana stock database.
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