Panacea Life Sciences, a US-based cannabinoid research-focused company has expanded its softgel manufacturing expertise into the nutraceutical space and was quickly awarded eight purchase orders to fill what it believes to be a clear void in the industry.
The aggregate value of the purchase orders is expected to generate approximately $500,000 in revenues in the remainder of the 2022 fiscal year.
We have made a seven-figure investment in our machinery, staff, and training
“As one of the few cGMP-certified cannabinoid manufacturing facilities in the US, the launch of our vegan softgel capabilities and expansion into the nutraceutical space in mid-June of 2022 made clear to us that companies are seeking a softgel manufacturer that provides a higher level of trust, communication, transparency and production quality for this growing global market,” said Nick Cavarra, President at Panacea.
“We have made a seven-figure investment in our machinery, staff, and training to meet the needs and expectations of our growing customer base, and the results are promising," Cavarra explained. "Over the last two years, the company committed itself to becoming the #1 rated vegan softgel provider in the US, and we believe we are well on our way to realising this objective.”
Panacea can produce up to 1 million softgels in a daily shift depending on the ingredients and the size of the softgel.
In addition, Panacea offers a full line of services for its customers including cannabinoid raw materials, formulation research and design, liquid fill capabilities, bottling and labelling, and fulfilment services.