Cannabinoids-based pharmaceutical company MediPharm Labs Corp. (TSX:LABS) (OTCQB:MEDIF) (FSE: MLZ) announced on Thursday that it has entered into a licensing agreement with Remidose Aerosols Inc. to acquire the exclusive rights for advanced cannabis products.

Under the deal, current Remidose customers will be serviced through MediPharm starting August 2024, including Canadian direct-to-patient medical platforms and international medical distributors.

MediPharm intends to utilize its existing GMP infrastructure, customer channels and wellness sales expertise to expand the customer base of these advanced products in Canada and internationally.

See also: Cannabinoids-Focused Pharma Company, MediPharm, Sees Higher Q1 Revenue, CFO Touts 'Strong Financial Position'

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The products in question are split into two main categories, including:

• Metered Dose Inhalers. Why? Used in the pharmaceutical industry as well, this inhalation format provides rapid onset without the adverse effects of smoking.
• Pressurized Sublingual Sprays. Why? Providing users with an accurate and repeatable experience, this aerosol delivery method has a faster onset, better bioavailability and a more pleasant taste and feel.

"MediPharm Labs is committed to providing access to non-smokeable, precision-dosed formats for cannabis patients and wellness consumers," David Pidduck, CEO of MediPharm said. "This agreement, in addition to bringing immediate revenue, opens many new potential global medical opportunities."

MediPharm already has the requisite equipment and GMP facility for these product lines to be manufactured in-house with no material incremental capital costs.

Now read: This Cannabinoids-Focused Pharma Co. Sees 50% YoY Surge In Revenue In 2023, Trims Losses