Are you above the legal age to view this content in your province/state?

Home / Industry News / Ontario company receives first-ever Health Canada approval to make cannabis pharmaceuticals

Ontario company receives first-ever Health Canada approval to make cannabis pharmaceuticals

Ontario company receives first-ever Health Canada approval to make cannabis pharmaceuticals

An Ontario pharmaceutical company has become the first in Canada to receive Health Canada approval to manufacture cannabis-based prescription drugs in its facility.

Burlington’s EmpowerPharm, a new clinical-stage, Canadian-owned drug company, made the announcement this week.   Organic weed? See how 48North’s Good Farm is cultivating sun-grown, outdoor cannabis |…   

While the company was already in possession of numerous cannabis-related certifications, including a Cannabis Drug Licence, a Standard Processing Licence, and a Cannabis Research Licence, the newly granted Drug Establishment Licence (DEL) certifies EmpowerPharm as compliant with Good Manufacturing Practice (GMP) standards.

“With this new Health Canada licence, EmpowerPharm is well positioned to disrupt the pharmaceutical sector through further investment in its R&D,” reads a statement from the company released earlier this week. “Healthcare practitioners and governments have long called for scientific evidence to support cannabis-based pharmaceutical products for therapeutic use.”

Clinical trials are now underway in the development of a cannabidiol-based prescription anxiety drug, Empower CBD™.

Cannabidiol (CBD) is a psychoactive but non-intoxicating compound derived from the cannabis plant that has exploded in popularity over the past few years.

Researchers are now working towards its next step – establishing enough evidence of efficacy and safety of the drug to support a New Drug Submission to Health Canada, as well as a Regulatory Filing with the U.S. Food and Drug Administration (FDA).

This article originally appeared on The Growth Op.

Disclaimer

Investment Value Finders specializes in providing opinions and information on stocks to individuals who wish to receive them. Our reports are construed for information purposes solely and are distributed free of charge to individuals who wish to receive them.


Investment Value Finders does not promote, condone or advocate licit or illicit drug use. Investment Value Finders cannot be held responsible for materials or contests posted on its website pages, or pages to which we provide links, which promote, condone or advocate licit or illicit drug use or illegal activities.


DO NOT BASE ANY INVESTMENT DECISION UPON ANY MATERIALS FOUND ON THIS WEBSITE. We are not registered as a securities broker-dealer or an investment adviser. We are neither licensed nor qualified to provide investment advice.


Investment Value Finders occasionally receives direct compensation for hosting links (or other* advertisements) to third party content that may be subject to disclaimer pursuant to Section 17(b) of the Securities Act of 1933. For those instances where the link text contains company or stock-specific mention, we provide the following list of compensation received in order to ensure full disclosure and transparency.


Investment Value Finders is intended for those 21+ years of age only!

Check Also

Haryana allows reimbursement of GST on Covid items’ donations

Haryana allows reimbursement of GST on Covid items’ donations

This story originally appeared on The Economic Times. The Haryana government has allowed reimbursement of …