Cannabis is quickly working its way into the cosmetics industry. MGC Pharmaceuticals is pioneering new ways to incorporate CBD into everyday products. The company is releasing 15 CBD-based cosmetic products under the MGC Derma Brand—including facial creams, eye serums, soaps, toners and cleansing milks that treat psoriasis and other skin ailments. The company has moved halfway across the globe to take advantage of Australia’s new and exciting medical cannabis marketplace.
The company’s line of cosmetics is being sold online wherever CBD is legal in the European Union, and the next step is moving down under, as outlined in their five-point strategy. “The medicinal cannabis market in Australia is emerging as one of the most exciting opportunities for Australian patients, material growers and the pharmaceutical industry,” MGC Managing Director Nativ Segev said in a statement. “As Australia places itself on the global medicinal cannabis map, MGC Pharmaceuticals plans to play a crucial leadership role in the development of the domestic industry.” Studies have shown that CBD can be effective for treating dry skin and conditions such as acne and eczema. MGC also supplies resin extract and various other pharmaceutical CBD products to the European market.
MGC’s skin formula is medicated for results. “93 percent of cases showed a visible improvement to the skin condition and over 70 percent sustained the improvement for up to 87 days after the last treatment,” a company spokesperson highlighted.
MGC Pharmaceuticals was listed on the Australian Securities Exchange just one day before cannabis legislation was officially passed in the state of Victoria. MGC’s shares soared nearly 10 percent the day it launched. The company is seeking to become a major supplier for cannabidiol.
MGC hopes to become an industry leader in Australia’s AUD150 million medical cannabis market.