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Proprietary formulation produces ultra-pure pharmaceutical cannabidiol (CBD) without the psychotropic effects of THC for the treatment of inflammatory heart disease
Received US FDA approval to commence a Phase II/III COVID-19 trial investigating the cardioprotective properties of CardiolRx
Has launched Cortalex through a national agreement with Medical Cannabis by Shoppers to retail it on an exclusive basis across Canada
Cardiol Therapeutics Inc (TSE:CRDL) (OTCQX:CRTPF) is a clinical-stage biotechnology company focused on developing innovative therapies for inflammatory heart disease.
The Canadian specialty pharmaceutical company has developed a proprietary formula of ultra-pure pharmaceutical cannabidiol (CBD) that does not contain THC - less than 5 parts per million (ppm) - and consequently none of the psychotropic effects of THC.
CanadaTorontoOntarioUnited-statesAmericaCanadianDouglas-loeLeede-jones-gableAndrew-hamerDavid-elsleyCardiometabolic-at-amgen-incData-safety-monitoring-committeeCareRx To Acquire The LTC Pharmacy Division Of Medical Pharmacies; Shares Pop 9%
Stephanie Bedard-Chateauneuf- April 19, 2021, 1:14 PM EDT SHARE ON:
CareRx shares jumped more than 9% in early trading on Monday after the company announced that it has signed an agreement to acquire the Long-Term Care Pharmacy Division of Medical Pharmacies Group Limited.
This acquisition adds approximatively 36,000 residents served and C$150 million in annual revenue. It is expected to pay off immediately with significant synergies.
At closing, CareRx (
CRRX) expects to serve more than 88,000 residents, strengthening the company’s position as the leading provider of senior pharmacies in Canada
CareRx President and CEO David Murphy said, “The acquisition of MPGL’s LTC Pharmacy Division is our most transformational acquisition to date and will increase the number of homes and residents we service by approximately 70%. MPGL�
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