MGC Pharmaceuticals: Receives $4m purchase order

MGC Pharmaceuticals Receives $4m purchase order

• MGC Pharmaceuticals (MXC) receives an order for more than $4 million for its COVID-19 treatment, CimetrA
• The order for US$3 million from AMC Holdings is part of a three-year US$24 million US supply and distribution agreement, the largest single order MGC has received for any product to date
• The deal also includes an additional US$21 million (~A$28.8 million) worth of orders for the second and third year, including CannEpil and CogniCann
• AMC says it’s now in the process of securing approval for receiving CimetrA for distribution within the US, which is anticipated to take six weeks
• MGCPharmaceuticals is up 1.72 per cent, trading at 5.9 cents per share at 2:48 AEDT