Business
Why the MGC Pharma (ASX:MXC) share price is 31% higher today
The MGC Pharmaceuticals Ltd (ASX: MXC) share price zoomed up more than 35% higher today off the back of a positive announcement released to the market yesterday.
In a strong finish at the close of trade today, the MCG Pharma share price was trading at 12.5 cents, up 31.58%.
What’s fuelling the MGC Pharma share price?
MGC Pharma advised the market yesterday that it had entered a sale and distribution agreement for its anti-inflammatory medicinal cannabis product.
According to the release, MGC has entered an exclusive, 3-year agreement with European nutraceuticals producer Swiss PharmaCan AG (SPC).
The deal will see SPC exclusively sell and distribute MGC’s food supplement ArtemiC product line. In addition, SPC will be…
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