Apollon Formularies expands Jamaica production facility
The UK-based medical cannabis pharmaceutical company said its new state-of-the art distiller increases production more than 50-fold compared with current levels
Apollon Formularies (AQSE:APOL) PLC announced a substantial increase in its production capacity in Negril, Jamaica in a move that creates further revenue generation opportunities.
The UK-based medical cannabis pharmaceutical company said its new state-of-the art distiller increases production more than 50-fold compared with current levels.
The company has installed a specialist sonicator, which allows for the production of nano-particle medicines as well as water-oil emulsions. In addition, it has bought an industrial freeze drier, allowing it more flexibility to store freeze dried biomass for use on demand as well as for pharmaceutical applications.
The company said the expansion “opens the path to further revenue generation opportunities to the wider domestic market before expansion to export markets” in the first quarter of 2022.
It sees additional revenue opportunities from tolling processes and white labelling and said it is actively engaging with cultivators and other cannabis companies in Jamaica to formalise these relationships.
Stephen Barnhill Jnr, COO of Apollon Jamaica, said: "Upgrading our facility means that we have more than enough production capability to operationally support Apollon's activities as we continue our strategy to expand our local and, eventually, global footprint.
“Additionally, the expansion provides the opportunity to not only generate additional revenue for the company, through tolling agreements with local cultivators and white labelling arrangements, but also means we are able to manufacture our high-grade oils for our medical facilities and dispensaries attached to these facilities. Our team in Jamaica is actively looking for companies in Jamaica to work with in this capacity."< Back to News