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HYTN Welcomes U.S. Executive Order Initiating Cannabis Reclassification to Schedule III
Globenewswire· 2025-12-18 22:01
Core Viewpoint - The announcement of an executive order by the U.S. administration to reclassify cannabis to a Schedule III controlled substance under federal law is a significant development for the cannabis industry, particularly for companies like HYTN Innovations Inc. that are positioned to benefit from a more structured regulatory framework [1][2]. Regulatory Changes - The executive order directs federal agencies to initiate the process of moving cannabis from Schedule I to Schedule III under the U.S. Controlled Substances Act, which would recognize accepted medical use while maintaining regulatory controls [2]. - A Schedule III classification would align cannabis with substances like acetaminophen with codeine and testosterone, allowing for a regulated framework for cannabis as a pharmaceutical product rather than just state-level recreational or medical use [2][3]. Company Positioning - HYTN Innovations Inc. welcomes the executive order, viewing it as a move towards a more structured regulatory approach that aligns with pharmaceutical frameworks. The company has been building systems and infrastructure consistent with Good Manufacturing Practices (GMP) [4]. - The company holds a Health Canada Drug Establishment Licence (DEL) for non-sterile pharmaceutical manufacturing and a Cannabis Drug Licence (CDL), positioning it to manufacture cannabis-derived pharmaceutical products [5][6]. Market Opportunities - HYTN has established a GMP platform and international export operations supplying regulated medical markets in the United Kingdom, Germany, and Australia, which may allow the company to evaluate potential opportunities as the Schedule III regulatory process advances [5]. - The company aims to become a premier provider of cannabis-derived products across federally regulated markets by strategically identifying market opportunities and effectively bringing innovative products to market [6].
MediPharm Labs Sets Date to Report Third Quarter 2025 Financial Results
Globenewswire· 2025-11-10 23:00
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]
MediPharm Cautions Shareholders To Await Final Results of Annual and Special Meeting
Globenewswire· 2025-06-16 17:22
Core Viewpoint - MediPharm Labs Corp. responds to a misleading press release from Apollo Technology Capital Corporation regarding the results of its annual and special meeting of shareholders, emphasizing that the meeting has not yet occurred and results are not available [1][2]. Company Overview - MediPharm Labs, founded in 2015, specializes in the development and manufacture of purified, pharmaceutical-quality cannabis concentrates and advanced derivative products, utilizing a Good Manufacturing Practices certified facility [3]. - The company has invested in a research-driven team and state-of-the-art technology to deliver precision-dosed cannabis products to both domestic and international medical markets [3]. Regulatory Milestones - In 2021, MediPharm Labs received a Pharmaceutical Drug Establishment License from Health Canada, making it the only company in North America with a commercial-scale domestic Good Manufacturing Practices License for the extraction of multiple natural cannabinoids [4]. - This GMP license is a crucial step towards the company's foreign drug manufacturing site registration with the US FDA [4]. Recent Acquisitions - In 2023, MediPharm acquired VIVO Cannabis Inc., which expanded its reach to medical patients in Canada and internationally through various platforms and clinics [5]. - The acquisition included Harvest Medical Clinics in Canada, which provides consultations for medical cannabis education and prescriptions [5]. Compliance and Operations - The company operates in compliance with all applicable laws in the countries where it conducts business [6].