MediPharm Labs Sees 16.5% QoQ Increase In International Medical Cannabis Sales, Announces New CEO

CBD-focused pharmaceutical company MediPharm Labs Corp. (TSX: LABS) (OTCQX: MEDIF) (FSE: MLZ) announced its financial results on Monday for the three and nine months ended Sept. 30.

During the third quarter of , the Barrie, Ontario-based company generated $5.4 million, up by roughly 6.9% sequentially.

In addition, it posted a 16.5% sequential increase in international sales, which totaled $2.9 million for the period, representing 53% of total sales for the period.

Keith Strachan, the company’s president, called the international cannabis market “a key driver of our future revenue growth.”

Q3 Financial Highlights

  • Negative gross profit was $1.86 million compared to $7.73 million in the prior period.
  • Net loss …

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