Medicinal Cannabis Portugal updates- Cannprisma started production

Algarve-based company CANNPRISMA officially inaugurated its medicinal cannabis production centre in Castro Marim on Monday (September 20.2021), complete with greenhouses and state-of-the-art facilities and equipment.

So far, around €15 million has been invested with another €30 million to be invested throughout the coming five years. Fifty jobs have already been created, with the number due to grow to 200 or 300 as the company’s activities expand.

CANNPRISMA is committed to “growing and processing high-quality medicinal cannabis, which will help improve the health of several patients, all while following high levels of safety and entrepreneurial ethics.

The company is investing in four lines of business – the first of which is now operational, with the official opening of the production centre, which it says complies with Good Agricultural and Collection Practices (GACP) and in July 2021 obtained full authorisation from Infarmed (national medicines authority).

The second phase involves building an industrial unit in Vila Real de Santo António to “process, extract, manufacture and package” the medicinal cannabis. It will extend over 6,000sqm and include an area for “research and development” and a laboratory for testing. Construction is underway and nearing completion

The third goal will be to “obtain oils, extracts and other raw materials” to be used as APIs (Active Pharmaceutical Ingredient) by the pharmaceutical industry, while the fourth phase will involve producing formulas and medicines either for other companies or for the CANNPRISMA brand.

In 2022, the company plans to harvest 12 tonnes of cannabis and is expecting an annual revenue of €20 million, with 90% of production due to be exported.

Information source by Região de Leiria

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