Cannabis products maker MediPharm Labs (OTC: MEDIF) has added another category to its lineup: On Wednesday, it announced that it had made its first shipment of bottled cannabis topicals.
In this case, MediPharm is acting as a contract manufacturer for another company, which it did not identify. The topicals, produced at MediPharm's processing facility in Barrie, Ontario, will ultimately be sold as for both medical and recreational use.
This apparently is only the beginning. In the press release announcing the shipment, MediPharm said that it's accelerating its research and development activities around topicals. It did not, however, provide any details about how much capital it intended to devote to this ramped-up effort.