Shares in Value Logo
Product Review Img Vertical

Date : 18/02/2021

Learn why Medlab (ASX:MDC) joined hands with Australia’s largest OTC supplier

Medlab (ASX: MDC) is a biotech company with a portfolio of novel medicinal candidates enhanced by its delivery platform and used for the treatment of chronic pain and disease. The firm announced that it has entered into an exclusive non-binding Heads of Agreement (HoA) with Australia’s largest generic pharmaceutical and over the counter (OTC) medicines company, Arrotex Australia Group Australia Pty Ltd. The agreement will enable the development and distribution of NanoCBD to Australian pharmacies.

The HoA is the first partnership between a pharma and a biotech investigating medical cannabis in Australia. The cannabis market is very hot right now and there are quite a few opportunities that are popping up for the top ASX cannabis stocks. This partnership sets Medlab apart in a market that is adjusting to new opportunities presented by over the counter (OTC) sales of eligible TGA approved medicines. The HoA will enable a faster development for the clinical package that is required for the final lodgement of an application to the TGA .

The definitive agreement including commercial terms will be finalised on or before 1 July 2021. Following the announcement, MDC shares moved up on the ASX and were trading at A$0.340 up by 4.615% at AEDT 12:15 PM.

NanoCBD™ to be Distributed by Medlab to Australian Pharmacies

Arrotex is Australia’s largest generic pharmaceutical and private label over the counter (OTC) medicines company with extensive experience in the TGA application process. Supported by the largest sales force in the Australian pharmaceutical industry, the company supplies the medicines which make up 85% of all prescriptions written by Australian doctors and found in every Australian pharmacy. This makes them an ideal partner for Medlab to distribute NanoCBD to Australian pharmacies.

Looking for Growth Stocks?

Growth stocks are potentially one of the hardest to pick as there are a lot of factors that need to be considered – from industry tailwinds to financial health of the individual stocks, and a lot of little things in between them. Shares in Value research team have picked their top 3 ASX stocks to buy in 2021. Click here to download the report for free.


Are You Looking To Buy The Best Stocks In 2021?

Stay on top of upcoming market trends. Whether you are a SMSF investor or a young investor we cover a wide range of stocks across all sectors including finance, industrials , real estate , technology, health and biotech etc to give you an edge to invest and trade with an advantage in the ASX listed stocks across large , mid and small caps.

Get stock tips with our Market Experts. We help self-directed investors and self-managed super funds (SMSF) make smarter investment decisions and get better returns. Fill in your details and download your free Report instantly for Top 3 Dividend Stocks to buy in 2021!


I want a Walkthrough

Our specialists are available at any time to provide you with further insight and advice.
Scroll to Top


By submitting this form, I agree to the TERMS AND CONDITIONS and PRIVATE POLICY