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Medical and pharmaceutical imports are on the list of top ten imports of Australia. Pharmaceuticals account for approximately 3.6 per cent of Australian imports. Import of medical devices and medicines is regulated by the Department of Health and Australian Border Force, and many pharmaceuticals are prohibited from entering Australian borders by the same.
Other than the import of pharmaceuticals, Australians are also involved in the import of technical, optical and medical equipment that accounts for approximately 3.7 per cent of import from Australia. This includes electro-medical equipment’s like blood fractions and x-rays.
Recently, the import of medical cannabis has become a matter of debate. In 2019, the bulk import of medicinal cannabis was permitted by the Department of Health to the Therapeutic Goods Association approved licenced manufacturers. A piece of detailed information related to the range of regulations focusing on the import of cannabis is mentioned on the website of TGA.
If one company or organisation is planning to manufacture medical devices overseas for import into the Australian market, it is required to comply with the Australian Regulatory Guidelines for Medical Devices (ARGMD).
The guidelines provide details about different classes of medical devices, their performance, risks, safety as well as the clinical evidence necessary to support the application for the medical device inclusion on the Australian Register of Therapeutic Goods. According to some media reports, in Australia, nearly 80% of the medical devices used are imported.
In Australia, under the Therapeutic Goods Act 1989, the Therapeutic Goods Administration (TGA) regulates the import, supply and export of all medical devices.
In this article, we are discussing ASX listed health care stocks that import medical and pharmaceuticals-
MGC Pharmaceuticals Ltd (ASX:MXC)
A European based ASX listed company MGC Pharmaceuticals Ltd (ASX:MXC) is a leader in supplying medicines derived from GMP Phytocannabinoid for the patients across the globe. The company is working with the objective of manufacturing and supply high-quality cannabinoid-based drugs for the emerging markets in Australasia, Europe and North America.
MGC Pharma has partnership and collaboration with companies, academia and universities at a global level for performing extensive research and developing the highest quality of pharmaceutical products for the patients. The company has a strong product offering targeting three widespread diseases- epilepsy, Irritable Bowel Syndrome (IBS) and dementia; further MGC pharma has products in the under development phase.
In January 2019, MXC received its first import of CannEpil® drug into Australia from Slovenia, and now this drug is providing to the authorised prescribers in Australia.
Strategic Placement and Share Purchase Plan (SPP)-
- MGC pharma unveiled that the company has received a firm commitment from a strategic investor to increase approximately $1.0 million by way of a share placement at 3.2 cents per share.
- The company would also offer an SPP to raise up to nearly $3.0 million from eligible shareholders at 2.7 cents/share, with a 1 for two free attaching alternative exercisable at 4.5 cents.
- The Placement and the SPP combinedly is intended to increase roughly $4.0 million.
Quarterly Report for December-
According to one ASX announcement in December quarter, the company has delivered a strong increase in prescription volumes and patient number-
Stock Performance-
On 18 February 2020, the MXC stock was trading at $0.028, rising up by 3.704 percent (at AEDT 1:38 PM). The company’s market capitalisation stood at nearly $ 37.02 million, with almost 1.37 billion shares outstanding. MXC stocks 52 weeks high and low price was noted at $0.067 and $0.027, respectively. The company has delivered a negative return of approximately 12.90% on the basis of year to date.
THC Global Group Limited (ASX:THC)
NSW headquartered medical cannabis company THC Global Group Limited (ASX:THC) is into the cultivation and manufacturing of pharmaceutical grade cannabis. The company has three key licences- one licence for the cultivation of medical cannabis and two licences for the manufacturing of medical cannabis.
The Southport manufacturing facility of the company is the biggest licenced and permitted pharmaceutical bio-floral extraction plant in the Southern Hemisphere.
THC has received import and export licences for its Southport Facility, that allows the company to start the supply of its medicinal cannabis products to the worldwide export market, in addition to providing products to patients in Australia.
Australian region and Global Medicinal Supply launch-
- THC unveiled that the company would begin the global supply of medications under the Canndeo brand in Australian region as well as across the globe.
- The company’s medicines range under the Canndeo brand, would be launched by the end of the first quarter of 2020, and initially involve four products with a full spectrum CBD medicine.
- For supplying finished as well as bulk GMP medicinal cannabis medicines from the Southport Facility preliminary orders received from Canadian licensed producers (LPs) with first deliveries in the second half of the year 2020.
Stock Performance-
On 18 February 2020, the THC stock was trading at $0.370, up by 1.37% (at AEDT 1:45 PM). The company’s market capitalisation stood at nearly $ 51.38 million, with almost 140.77 million shares outstanding. THC stocks 52 weeks high and low price was noted at $ 0.630 and $ 0.305, respectively. The company has delivered a negative return of approximately 6.41% on the basis of year to date.
Creso Pharma Limited (ASX:CPH)
An ASX listed Sydney based cannabis sector player Creso Pharma Limited (ASX:CPH) was established in 2015 and is engaged in development and commercialisation of innovative pharmaceutical-grade cannabis as well as hemp derived products for human and animal in a diverse range of markets. The company has global rights for several unique and proprietary innovative delivery technologies for improving the absorption as well as bioavailability of cannabinoids.
Moreover, CPH was the first company to import medical cannabis into Australia and to launch these products in Switzerland for both people and animals.
Achieved Mernova Milestone 2-
Creso Pharma unveiled that the company has achieved the second milestone in respect of its 2017 acquisition of Mernova Medicinal Inc. and as a result of achievement of the second milestone-
- the 4,150,000 Milestone 2 Exchangeable Shares issued in the Creso Pharma’s Canadian subsidiary have now vested and become exchangeable, at the election of the Mernova vendors, for fully paid ordinary shares in the company.
- the cash payment for Milestone 2 of approximately C$800,000 is now also payable to the Mernova vendors. Creso Pharma and the Mernova vendors have signed a contract for the settlement of this payment in equal monthly instalments over the next nine months period.
Stock Performance-
On 18 February 2020, the CPH stock was trading flat at $ 0.120 (at AEDT 1:45 PM). The company’s market capitalisation stood at nearly $ 24.17 million, with almost 201.42 million shares outstanding. CPH stocks 52 weeks high and low price was noted at $ 0.575 and $ 0.100, respectively. The company has delivered a positive return of approximately 4.35% on the basis of year to date.
