PR Newswire
Innovative Plant-Based Medicine Set to Transform Inflammatory Disease Treatments in the US Market
LONDON , March 22, 2023 /PRNewswire/ -- MGC Pharmaceuticals Ltd. (LSE: MXC), (ASX: MXC), (OTC: MGCLF), a European based bio-pharma company specializing in the development and supply of affordable, ethically produced plant-inspired medicines, announces that its innovative product ArtemiC™ has recently been listed as an over-the-counter (OTC) drug in the USA on the FDA National Drug Code (NDC) Database under the code 83278. Facilitated by the company's US-based supply and distribution partner, AMCPharma USA , LLC. (AMC), ArtemiC™ will be available in US Pharmacy Benefit Management (PBM) networks starting April 2023 , with ongoing discussions for its inclusion in other independent outlets.
In response to the NDC listing, AMC has placed a US$2 million purchase order for ArtemiC™, with production set to commence immediately. Delivery is scheduled in two installments in Q3 and Q4 of this year. ArtemiC™, which completed a successful Phase II Clinical Trial in 2020, has demonstrated significant benefits for patients suffering from moderate COVID-19. Subsequent trials have proven its effectiveness as an anti-inflammatory treatment across a wide range of chronic diseases.
Brent W. Yessin of AMC expressed his enthusiasm, "We are pleased to have secured the NDC for MGC Pharma's proprietary product, ArtemiC™, which we believe will make a considerable impact in the over-the-counter retail sector. Our partnership with MGC enables us to offer the market a clinically proven, plant-based, FDA-authorized product that fills an important gap between existing OTC products and expensive prescription products from Big Pharma."
Roby Zomer , CEO and Managing Director of MGC Pharmaceuticals, added, "The listing of ArtemiC™ as an over-the-counter drug provides significant access to the largest healthcare market in the world and stands as a major milestone in MGC's growth progression. The receipt of a US$2 million order from our distribution partner, AMC, is a strong endorsement for the product, which has demonstrated the capacity to relieve symptoms of COVID-19 and other inflammatory diseases."
ArtemiC™, an all-natural product developed by MGC Pharma in collaboration with partner Swiss PharmaCan AG and Grat Bio® SNEDD technology, increases the bioavailability of its active ingredients at the cellular level. The versatile treatment has shown a full safety and efficacy profile with no drug-adverse events and can be used in community settings and hospitals alike.
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SOURCE MGC Pharmaceuticals Ltd