Pharmascience receives standard processing licence from Health Canada

Pharmascience Inc. one of Canada’s largest pharmaceutical manufacturers, is pleased to announce the issuance by Health Canada of a Cannabis Standard Processing License for its Candiac, Québec, facility, pursuant to the Cannabis Regulations.

As the largest pharmaceutical employer in Quebec, Pharmascience is excited to enter the medical cannabis business, create employment, add capacity, and play a part of Canada’s continued leadership in the medicinal cannabis industry. With the issuance of a standard processing license by Health Canada, Pharmascience will be in a position to both leverage its expertise in pharmaceutical R&D and product manufacturing and to work with existing licensed producers as a contract developer and manufacturer of cannabis products. In addition, Pharmascience can formulate and process cannabis and derivative products into finished products.

“Pharmascience has provided medicinal products to Canadians for close to forty years. We see this as another important step in our evolution and we are committed to supplying high quality medicinal cannabis products to business partners and patients worldwide” said Pharmascience Chief Executive Officer Dr. David Goodman. “Through our ongoing partnership with VIVO Cannabis Inc. we expect to manufacture our first medical cannabis product this year.”

The standard processing license complements Pharmascience’s existing cannabis analytical testing license. Pharmascience, through its Royalmount Laboratories division, has an existing state of the art cannabis testing laboratory which currently supports licensed producers with full-service testing of cannabis products from its Health Canada inspected laboratory.

About Pharmascience Inc.

Founded in 1983, Pharmascience Inc. is the largest pharmaceutical employer in Quebec. With its head office located in Montreal and its 1,400 employees, Pharmascience Inc. is a private, full-service pharmaceutical company with deep roots in Canada, and whose global outreach spans across more than 60 countries. Ranked 47th among the top 100 Canadian investors in Research and Development (R&D) thanks to $49,5 million investment in 2019, Pharmascience Inc. is one of the largest manufacturers of generic drugs in the country.

Source:            Pharmascience Inc.
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