MGC Derma officially launches Derma Plus CBD cream
Published on: | by finfeed
MGC Pharmaceuticals’ (ASX:MXC) Derma division has today officially launched its first Derma Plus product.
This product is the Herbal Repair Cream, which utilises proprietary cannabidiol (CBD) compounds and can be used for the daily relief of mild forms of psoriasis.
As the company announced last year, the Derma Plus range, comprising three products, has been successfully clinically tested at a leading dermatological clinic in Slovenia.
It’s worth noting here that this is an early stage play and investors should seek professional financial advice if considering this company for their portfolio.
Results from the clinical test program conducted by Dr Rok Devjak, MD PhD, showed that the cream helps to significantly reduce itching, flaking and dryness, as well as to soothe, soften and comfort sensitive skin and reduce the symptoms of dry skin for people with psoriasis.
According to the International Federation of Psoriasis Association, around five per cent of people globally experience one or more forms of psoriasis. In the US alone, the condition affects nearly 7.5 million people, or some two per cent of the population. Around 100,000 new cases are registered and reported every year.
Moreover, independent experts estimate that the global market for psoriasis treatment, which was worth US$7.8 billion in 2015, is expected to surge at a compound annual growth rate (CAGR) of 5.10 per cent during the period from 2016 to 2024, reaching a value of US$12.1 billion by the end of the period.
The Herbal Repair Cream is now available for sale globally through MGC Derma’s website and eCommerce platforms, and throughout the European Union, North America and Australasia.
Two additional Derma Plus products for relieving acne and dermatitis conditions, the Herbal Balm and Herbal Replenish Cream, are also planned for launch early this year.
MGC Derma Division is a 51:49 joint venture between MGC Pharmaceuticals and recognised cosmetic manufacturer Dr M. Burstein Ltd.
MXC, whose share price has seen upward movement this week, is one of several ASX pot stocks to benefit from a rapidly shifting legislative climate.
The newest of these could see Australia aiming to emerge as a leading global supplier of medical marijuana. Once parliament resumes in February this year, regulations preventing the export of medicinal cannabis products will be changed, and include cannabis-based oils, patches, sprays, lozenges and tablets that can help alleviate pain.
This will provide a sizeable boost to Australia’s budding medicinal cannabis market and could in turn see ASX companies like MXC reaching new highs in the not too distant future.