First revenues for MGC Pharmaceuticals
Published 24-MAR-2016 14:58 P.M.
|
1 minute read
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
MGC Pharmaceuticals (ASX:MXC) has pulled off its first sales deal in Europe, linked with a Czech distributor expected to bring in $500,000 of revenue for the company this year.
The company has signed a deal with Czech Medical Herbs (CMH), which has agreed to distribute a line of 15 cosmetic products in the MXC stable.
The cosmetic products contain cannabidiol and have been developed in joint venture with cosmetic manufacturer Dr M Burstein Ltd.
While the deal is centred in the Czechoslovakian market, MXC told its shareholders in a note today that it was investigating similar moves into Poland, Hungary, and the United States.
The order from CMH was for $500,000 worth, which has a potential retail value of $1.5 million.
“The sales of our first range of CBD cosmetic products marks a major milestone for MGC Pharmaceuticals,” MXC managing director Nativ Segev said.
“It signifies our first revenue generation and our ability to bring to market a range of high quality CBD based products. Through this new distribution agreement with CMH, we have been able to fast-track the sales process of our initial range of 15 CBD based cosmetic products.”
In other news, MGC Pharmaceuticals said that a dedicated retail site for its cosmetic products would go live “in the coming weeks”, adding another route to revenue for the pharmaceutical play.
Earlier this month the company unveiled its push into the world of pharmaceuticals, unveiling an R&D agreement with Israeli-based Sipnose to develop a CBD-based medicine for sufferers of epilepsy.
The retail sales will play a vital role in generating revenue for the company while it is in the lab with Sipnose, with the pharmaceutical space seen as the main game for MXC.
MXC has also sold active pharmaceutical ingredients derived from cannabis to other pharmaceutical companies.
General Information Only
This material has been prepared by Jason Price. Jason Price is an authorised representative (AR 000296877) of 62 Consulting Pty Limited (ABN 88 664 809 303) (AFSL 548573) (62C), and a Director of S3 Consortium Pty Ltd (trading as StocksDigital).
This material is general advice only and is not an offer for the purchase or sale of any financial product or service. The material is not intended to provide you with personal financial or tax advice and does not take into account your personal objectives, financial situation or needs. Although we believe that the material is correct, no warranty of accuracy, reliability or completeness is given, except for liability under statute which cannot be excluded. Please note that past performance may not be indicative of future performance and that no guarantee of performance, the return of capital or a particular rate of return is given by 62C, Jason Price, StocksDigital, any of their related body corporates or any other person. To the maximum extent possible, 62C, Jason Price, StocksDigital, their related body corporates or any other person do not accept any liability for any statement in this material.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.
