Innocan Pharma completes its first European cosmetics, topicals production and begins US manufacturing
Innocan sees this manufacturing advance as a major milestone in the company's commercialization efforts
Corporation () (OTC Pink:INNPF) (FSE: IP4) announced that it has completed its initial production of the Shir premium cosmetic line and Relief & Go topicals in Portugal and has also started manufacturing the brands in the US for the first time.
The company said it now has 35,000 units of SHIR and Relief & Go stored in Portugal for delivery into the European market and will produce an initial stock of 40,000 units for North America.
“We are moved by the immense and positive market-response to our long awaited product launch and are pleased to have the ability to increase our inventory following the demand demonstrated by our SHIR and R&G product lines,” said CEO Iris Bincovich in a statement.
Innocan noted that it sees this manufacturing advance as a major milestone in the company's commercialization, while maintaining a consistent and high-quality product.
The company added that its next step will be to produce additional inventory to service its expansion into the US market as it rapidly expands into retail distribution and scales its online sales.
The R&G Relief & Go CBD Spray product combines the known benefits of active ingredients such as menthol and camphor with CBD and magnesium (more than 40% in the formula) to help the body relax and recover for sport-performing professionals. It is designed to target muscle-related pain and also provide relief for joint pain.
Innocan announced recently that it has entered into a distribution agreement with German CBD products provider iAmHealth Distribution UG to sell its SHIR Beauty and Relief & Go product lines in Germany.
Innocan, through its wholly-owned Israeli subsidiary Innocan Pharma Ltd, is a pharmaceutical tech company that focuses on the development of several drug delivery platforms combining cannabidiol, or CBD.
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