Neptune Wellness Solutions (Neptune) is progressing rapidly with the repurposing of its site for the extraction, purification and formulation of legal cannabis products.
The site is a 50,000 ft2 facility in Sherbrooke, QC, with state-of-the-art and fully automated operations, monitoring, control, instrumentation, building management system (B.A.S.) and our own, fully equipped analytical laboratory. The company has approved and now has underway a $5 million (CAD) investment to modify and secure this facility for the manufacture of cannabis extracts and differentiated value-added products. On-track to receive its cannabis production license, which is expected by the summer of 2018, Neptune’s vision for this site is to become a global center of excellence for the extraction, purification and formulation of cannabis products.
A Natural Fit for Neptune
Neptune has worked in the natural product extraction space for close to 20 years as a pioneer in the krill oil industry. Canada is expected to legalize cannabis for adult use by the end of summer 2018, and with the ever-expanding legalization of cannabis for medical use in various jurisdictions around the globe, the cannabis industry is estimated to continue growth towards a major new consumer product category, estimated at $57 billion by 2027[i]. As such, an expansion into the production of cannabis value-added products is a natural transition for Neptune that leverages the company’s competencies for global distribution and expertise in science, extraction, formulation, regulatory affairs, and commercialization. The company is also moving well beyond basic extraction to purification and isolation technologies, as well as innovative delivery forms for the legal cannabis market in Canada and globally.
Neptune is well-established in the natural product space and is one of the only companies already fully compliant and licensed by Health Canada pursuant to the Natural Health Products Regulations (NHPR) with the renewal of its Site Licence in early 2018. Neptune is one of very few companies in the current cannabis industry with a facility that is certified to current Good Manufacturing Practices (cGMP). Critical to the human health consumer products industry, cGMPs assure proper design, monitoring, and control of manufacturing processes and facilities, which thereby safeguard quality standards for a product’s identity, strength and purity. Neptune is also licensed by the Canadian Food Inspection Agency (CFIA) as a processing establishment.
Neptune’s team of experienced and highly skilled scientists, engineers, managers and technicians have been working for years in the extraction and manufacture of natural health products and the generation of clinical science supporting their benefits. In conjunction with strategic industry and academic partners, the company looks forward to this new mission towards the development of cannabis-based wellness products and solutions for the human and veterinary industries.
[i]The Road Map to a $57 Billion Worldwide Market, Cannabis Intelligence Briefing. Published by Arcview Market Research in partnership with BDS Analytics, 2018.