MGC Pharmaceuticals Faces Fines for Alleged Unlawful Advertising of Cannabis Products – MarketWatch

By Anthony O. Goriainoff


MGC Pharmaceuticals Ltd. said Wednesday that it faces 23 infringement notices totaling 306,960 Australian dollars ($197,498) for contravening Australia’s Therapeutic Goods Administration, or TGA, code.

The London and Australia-listed biopharma company that it has placed its website into maintenance and taken other remedial measures, after the Secretary of the Australian Government Department of Health and Aged Care said it had allegedly contravened the TGA’s advertising laws as it promoted its medicinal cannabis products online.

The company said it had fully cooperated with the TGA to remedy the issues, and that this included removing all posts of concern from its social-media channels, some of which were third-party posts.

The TGA said it had issued 73 notices in total to licensed medicinal cannabis companies, including MGC Pharmaceutical.

“While the TGA facilitates legal pathways for medical practitioners to prescribe medicinal cannabis products to patients, the medicinal cannabis products that are subject of these infringement notices are unapproved prescription-only medicines that cannot be advertised to consumers,” the TGA said in a statement.

“The website will be live again in November following a rebranding exercise, with new internal guidelines implemented to prevent a repeat occurrence,” MGC Pharmaceuticals said.

Shares at 0721 GMT were down 0.05 pence, or 5.6%, at 0.85 pence.


Write to Anthony O. Goriainoff at [email protected]


Source: https://www.marketwatch.com/story/mgc-pharmaceuticals-faces-fines-for-alleged-unlawful-advertising-of-cannabis-products-271664351214?mod=markets