Cannabis-extraction company MediPharm Labs (OTC: MEDIF) has signed its first European "white label" supply deal. The Canada-based company announced that its MediPharm Australia subsidiary has entered into such an agreement to provide a raft of cannabis oil products to Therismos, a U.K.-based pharmaceutical supply-chain company. The agreement will be in force for three years; the financial particulars were not provided.
"White label" means that a producer supplies goods for another company to package as its own brand. MediPharm Australia received a license in late 2019 to produce cannabis extracts, and recently received Good Manufacturing Practices (GMP) certification for related products. That certification is mutually recognized by European Union authorities, even though it's an Australian producer. It's often required for cannabis products in that market.
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