CanniMed Therapeutics Inc (TSE:CMED) is a Canadian-based, crop biopharmaceutical firm and a pioneer in the Canadian medical cannabis market, with extensive experience of 15 years in pharmaceutical cannabis cultivation. It is listed on the TSE and was recently listed on OTC marketplace under the ticker CMMDF. The company was a major supplier to Health Canada from 2002 to 2014 and was the preliminary producer approved under the Canadian Marijuana for MMPR in 2013.
CanniMed was listed as a GMP-compliant facility back in 2006 and has devoted more than 10-years streamlining their manufacturing and production procedures to a pharmaceutical standard that is approved in the U.S. and Canada. The company’s major competitive advantage is its strong track record and reputation as a medicinal marijuana producer. It has advanced more than 30 proprietary technologies and procedures from extraction methods, through cultivating and growing equipment and irrigations systems.
CanniMed has advanced its business on the support of the Health Canada agreement, which expired in 2014. The MMPR was introduced that time which permits licensed medical cannabis firms to supply offerings directly to needy people and while CanniMed was the preliminary firm to get a license in Canada, it failed to retain Health Canada’s customer base and had to begin from scratch. The company posted sales for the quarter completed January 31, 2017 of $3.4 million, almost 93% higher over the same quarter of 2016. Adjusted EBITDA from ongoing operations jumped $0.7 million to $0.5 million for the reported quarter.
A prime contributor to CanniMed’s development has remained concentrated cannabis oils, which seems to be the preferred delivery process. The firm intends to start manufacturing cannabis oil gelcaps in the imminent few months. The CEO Brent Zettl has been using off the firm’s track record and strong reputation of quality control to advance distribution models both internationally and domestically.