Medipharm Labs (TSX: LABS) has received Health Canada licensing for its newly expanded production facility in Barrie, Ontario. The expanded space will see the effective size of Medipharm’s licensed area increase significantly to approximately 25,000 square feet, from that of roughly 8,200 square feet.
The expanded space will largely be utilized for its white label operations. The space will be used in Medipharm’s current manufacturing operation to enable the firm to be able to introduce automated downstream production and packaging, expand upon current quality control and testing, as well as provide additional space for research and development as well as product storage.
While not currently licensed under GMP standards like the current operation, the expanded space has been built to compliance and is expected to receive approval for expanded GMP operations. Thus, the expansion will also enable the extractor to provide enhanced international medical products for the European marketplace. In terms of specific products, the firm has identified that it intends to move vape pen production into the newly expanded space upon GMP approval for international distribution.
The recently received approval completes Medipharm’s first phase of facility expansion at its Barrie, Ontario facility. The phase included five new manufacturing rooms, an expanded quality control lab, a second storage location, as well as infrastructure upgrades. Recently received automation equipment is expected to be operational in the coming weeks, enabling the firm to offer enhanced white label production for its partners.
Medipharm Labs last traded at $3.93 on the TSX.
Information for this briefing was found via Sedar and Medipharm Labs.. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
