TORONTO, Jan. 19, 2026 (GLOBE NEWSWIRE) -- MediPharm Labs Corp. (TSX: LABS) (OTCQB: MEDIF) (FSE: MLZ) ("MediPharm" or the "Company"), a pharmaceutical company specialized in precision-based cannabinoids, today announced that David Pidduck will be stepping down from his role as the Company's Chief Executive Officer, effective January 23rd, 2026. The Board of Directors (the "Board") has appointed Greg Hunter, the Company's Chief Financial Officer, as Interim Chief Executive Officer, while it evaluates its lon ...

Core Viewpoint - MediPharm Labs Corp. has signed a definitive supply agreement with Remidose Aerosols Inc. to ship GMP-certified medicinal cannabis products to Costa Rica, enhancing its commitment to support medical patients in the region and expand international access to quality cannabis solutions [1][2]. Company Overview - MediPharm Labs specializes in precision-based cannabinoids and operates a GMP-certified facility for the development and manufacture of pharmaceutical-quality cannabis products [6]. - The company has a strong focus on research-driven methodologies and advanced technology for producing pure and precision-dosed cannabis products [6]. - In 2021, MediPharm Labs became the only company in North America to hold a commercial-scale domestic GMP License for the extraction of multiple natural cannabinoids [7]. - The acquisition of VIVO Cannabis Inc. in 2023 expanded MediPharm's reach to medical patients in Canada, Australia, and Germany [8]. Market Context - Costa Rica's medical cannabis market opened for regulated sales in June 2025 and is projected to exceed USD 35 million annually, driven by strong patient demand and a comprehensive regulatory framework [2]. - The partnership with Remidose LATAM aims to provide high-quality, GMP-certified cannabis products to meet the needs of patients in Costa Rica [4]. Agreement Details - Under the agreement, MediPharm Labs will supply a variety of GMP-certified cannabis products, including oils, tinctures, metered dose inhalers, and dried flower to Remidose LATAM [3]. - Remidose LATAM is fully licensed by Costa Rican health authorities to import medicinal cannabis products, ensuring compliance with local regulations [4][5].

Core Viewpoint - The reclassification of cannabis from Schedule I to Schedule III under the U.S. Controlled Substances Act is a significant milestone that recognizes its medical use and is expected to facilitate clinical research and partnerships for MediPharm Labs [1][4][10]. Industry Impact - The reclassification is anticipated to accelerate cannabis-related medical research by removing barriers that have historically limited U.S. clinical trials, allowing for standardized medical-grade cannabis access [4][5]. - The change may lead to increased interest from institutional investors in research-oriented cannabis companies, as regulatory barriers evolve [10]. Company Positioning - MediPharm Labs is strategically positioned to benefit from this reclassification due to its FDA site registration, Drug Establishment License, and experience in supplying clinical trial materials to the U.S. [2][6]. - The company has a proven track record, having supplied products for over 10 active clinical trials, including significant studies funded by the U.S. National Institutes of Health [7][8]. Research and Development Opportunities - The reclassification is expected to create a pipeline of researchers ready to advance clinical trials and evaluate compliant active pharmaceutical ingredient suppliers [5]. - MediPharm Labs has developed international licensing and regulatory expertise, enabling it to support new research initiatives that require pharmaceutical-grade standards [6][9]. Future Growth Potential - The company anticipates that the reclassification will strengthen its ability to expand U.S. clinical trial partnerships and facilitate significant growth in clinical research [3][10]. - MediPharm Labs' unique combination of experience and regulatory credentials positions it to immediately support new research initiatives in the U.S. and globally [8][9].

Core Viewpoint - MediPharm Labs Corp. announces the resignation of Shelley Potts from the Board of Directors and the reappointment of Michael Bumby, highlighting a shift in leadership aimed at supporting the company's strategic priorities in the pharmaceutical cannabinoid sector [1][3]. Group 1: Leadership Changes - Shelley Potts will step down from the Board effective December 31, 2025, after contributing to the company's growth since 2020 [1][3]. - Michael Bumby, who previously served on the Board and was CFO at VIVO Cannabis Inc., will rejoin the Board effective January 1, 2026, bringing extensive experience in finance and governance [1][2]. Group 2: Company Background - MediPharm Labs, founded in 2015, specializes in the development and manufacture of pharmaceutical-quality cannabis concentrates and active pharmaceutical ingredients, utilizing a Good Manufacturing Practices certified facility [4]. - The company received a Pharmaceutical Drug Establishment License from Health Canada in 2021, becoming the only North American company with a commercial-scale domestic GMP License for extracting multiple natural cannabinoids [5]. - In 2023, MediPharm acquired VIVO Cannabis Inc., expanding its reach to medical patients in Canada, Australia, and Germany, and including Harvest Medical Clinics for patient consultations [6].

Core Insights - MediPharm Labs Corp. has completed its first shipment of pharmaceutical-grade cannabis products to France, marking its entry into the European medical cannabis market [1][2] - The French medicinal cannabis market is projected to grow from US$187.6 million in 2025 to US$213.3 million by 2030, indicating significant potential for the company [2] - As of Q3 2025, international medical cannabis accounted for 56% of MediPharm's total revenue, with an 83% year-over-year growth in this segment [2] Company Overview - Founded in 2015, MediPharm Labs specializes in the development and manufacture of purified, pharmaceutical-quality cannabis concentrates and advanced derivative products [4] - The company operates a Good Manufacturing Practices certified facility and has invested in advanced technology and research-driven teams to ensure high-quality product delivery [4] - MediPharm Labs holds a Pharmaceutical Drug Establishment License from Health Canada, making it the only North American company with a commercial-scale domestic GMP License for cannabinoid extraction [5] Strategic Partnerships and Expansion - The recent shipment to France follows a production agreement with an international medicinal cannabis organization, enhancing MediPharm's reputation as a trusted supplier [2] - The company has established distribution and supply partnerships globally, now shipping products to 10 countries [3] - In 2023, MediPharm acquired VIVO Cannabis Inc., expanding its reach to medical patients in Canada, Australia, and Germany [6]

Core Points - MediPharm Labs Corp. has successfully dismissed a $50 million defamation claim against its CEO and Chairman by Apollo Technology Capital Corporation and Nobul Technologies Inc. [1][2][3] - The Ontario Superior Court found that the claims were baseless and that the plaintiffs failed to provide evidence of harm caused by the statements made in a letter related to a proxy contest [3] - The company has also reported unauthorized press releases related to Apollo that were disseminated without its consent [4] Company Overview - MediPharm Labs specializes in the development and manufacture of pharmaceutical-quality cannabis concentrates and active pharmaceutical ingredients, operating under Good Manufacturing Practices [5] - The company received a Pharmaceutical Drug Establishment License from Health Canada in 2021, making it the only North American company with a commercial-scale GMP license for cannabinoid extraction [6] - In 2023, MediPharm acquired VIVO Cannabis Inc., expanding its reach to medical patients in Canada and internationally [7]

Core Viewpoint - MediPharm Labs Corp. has successfully dismissed a defamation claim against its CEO and Chairman, reinforcing its legal standing and credibility in the market [1][2][3]. Legal Developments - The Superior Court of Justice in Ontario dismissed a $50 million defamation claim against CEO David Pidduck and Chairman Chris Taves, which was initiated by Apollo Technology Capital Corporation and Nobul Technologies Inc. [1][3] - The court's decision followed a previous dismissal of a related conflict of interest claim against the company's litigation counsel [2]. - The court found that the plaintiffs failed to provide evidence of harm caused by the April 29 letter, which was deemed typical of legal correspondence in such circumstances [3]. Company Background - MediPharm Labs specializes in the development and manufacture of pharmaceutical-quality cannabis concentrates and active pharmaceutical ingredients, operating under Good Manufacturing Practices [5]. - The company received a Pharmaceutical Drug Establishment License from Health Canada in 2021, making it the only North American company with a commercial-scale GMP license for extracting multiple natural cannabinoids [6]. - In 2023, MediPharm expanded its market reach by acquiring VIVO Cannabis Inc., enhancing its presence in Canada, Australia, and Germany [7].

Core Viewpoint - MediPharm Labs Corp. reported strong year-over-year revenue growth for Q3 2025, driven by its international medical cannabis strategy, while also reducing costs and increasing cash reserves [2][3]. Financial Performance - Q3 2025 revenue reached $11.4 million, marking a 17% increase from $9.8 million in Q3 2024, attributed to growth in international business [4][8]. - International medical cannabis revenue was $6.4 million, representing 56% of total revenue, with an 83% year-over-year growth [5][8]. - Canadian adult-use and wellness revenue was $1.8 million, reflecting a 4% year-over-year increase and 9% sequential growth from Q2 2025 [5]. Cost Management - Operating expenses decreased to $4.4 million in Q3 2025, down 19% year-over-year and 35% sequentially [9][8]. - Gross profit for the quarter was $2.6 million, with a gross margin of 22%, indicating margin pressure from product mix [7][10]. Cash Position - The company ended Q3 2025 with a cash balance of $10.6 million, an increase of $0.2 million from Q2 2025, supported by disciplined cash management and asset sales [11][12]. Business Strategy - The company expanded its inhaler product line in the domestic market and launched metered dose inhalers in Australia, with plans for future launches in other international markets [6][5]. - Management remains focused on driving revenue growth and streamlining expenses to enhance profitability [3][9].

Core Viewpoint - MediPharm Labs Corp. is set to release its third quarter financial results for the period ending September 30, 2025, on November 13, 2025, before market opening [1] Group 1: Financial Results Announcement - The company will host a conference call and webcast on November 13, 2025, at 10:00 a.m. Eastern time to discuss its financial results [2] - Participants are encouraged to dial in approximately 15 minutes before the start of the call [3] Group 2: Company Overview - Founded in 2015, MediPharm Labs specializes in the development and manufacture of purified, pharmaceutical-quality cannabis concentrates and advanced derivative products [5] - The company operates a Good Manufacturing Practices certified facility with ISO standard-built clean rooms, focusing on delivering pure and precision-dosed cannabis products [5] - In 2021, MediPharm Labs received a Pharmaceutical Drug Establishment License from Health Canada, becoming the only company in North America with a commercial-scale domestic GMP License for the extraction of multiple natural cannabinoids [6] - In 2023, MediPharm acquired VIVO Cannabis Inc., expanding its reach to medical patients in Canada, Australia, and Germany [7]

Core Points - MediPharm Labs Corp. will release its third quarter financial results for the three and nine months ended September 30, 2025, before markets open on November 13, 2025 [1] - The executive management team will host a conference call and webcast on the same day at 10:00 a.m. Eastern time to discuss the financial results [2] Company Overview - MediPharm Labs, founded in 2015, specializes in the development and manufacture of purified, pharmaceutical-quality cannabis concentrates and advanced derivative products [5] - The company operates a Good Manufacturing Practices certified facility with ISO standard-built clean rooms, focusing on delivering pure and precision-dosed cannabis products [5] - In 2021, MediPharm received a Pharmaceutical Drug Establishment License from Health Canada, becoming the only company in North America with a commercial-scale domestic GMP License for the extraction of multiple natural cannabinoids [6] - In 2023, MediPharm acquired VIVO Cannabis Inc., expanding its reach to medical patients in Canada, Australia, and Germany [7]