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CAN (ON): Aphria inks wholesale supply deal with Scientus PharmaAphria, through its subsidiary Pure Natures Wellness, entered into a major wholesale supply agreement with HydRx Farms. Under the terms of the Agreement, Aphria is committing to supply over 25,000 fully grown medical cannabis plants over the next 12 months to Scientus Pharma. The first delivery, under the agreement will occur in the middle of Aphria’s second quarter of 2018. Aphria expects to generate over $1.2 million of revenue from the wholesale supply agreement in each full quarter of
shipments, with gross margins consistent with previously executed wholesale agreements.
Scientus Pharma, a vertically-integrated biopharmaceutical company, is raising the bar of cannabinoid products from medical-grade to pharmaceutical-grade. Leveraging its proprietary, patent-pending formulation and processing technologies, Scientus Pharma is committed to leading the medical cannabis market towards pharmaceutical standards in manufacturing, formulations and dosing.
“Scientus Pharma shares our vision for providing high-quality products to medical cannabis patients, which is enabled by our 509-step Seed-to Sale quality assurance program,” said Vic Neufeld, Chief Executive Officer of Aphria. “Through this agreement, Scientus Pharma will get access to clean and safe cannabis, which is necessary in the biopharmaceutical cannabis industry. In return, Aphria will benefit from guaranteed product distribution advancing Aphria’s growth strategy.”
“Scientus Pharm intends to leverage this key raw material supply contract to help it lead the evolution of cannabinoid products from medical-grade to pharmaceutical-grade,” said Trevor Folk, Chief Executive Officer of Scientus Pharma. “Our proprietary extraction technology platform has solved the resin consistency issue that has here-to-for prevented that scientific advancement, and it is the foundation for Scientus Pharma’s pipeline of novel products.”
For more information:
President & CEO
209 Dundas St. E
PO Box 31 Whitby
Whitby, ON L1N 5R7
T: +1 844 493.7922
Publication date: 7/6/2017
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