Colorado, USA-based cannabinoid research and certified GMP manufacturing company, Panacea Life Sciences Inc (OTCMKTS:PLSH) on April 21, 2022, signed an exclusive product manufacturing agreement with Good Pharmaceutical Development Co. This agreement will lead to the production ofa proprietary, highly concentrated line of Remei CBD products for chronic pain.
Trading Data
On Thursday, PLSH stock moved up 41% to $0.55 with more than 11K shares traded, compared to its average volume of 2.7K shares. The stock moved within a range of $0.3800 – 0.5499 after opening trading at $0.49.
Panacea Life Signs Exclusive Manufacturing Agreement with Good Pharmaceutical Development Co.
Good Pharma developed a patented delivery system, which has shown to deliver high concentrations of hemp-derived CBD. Thousands of patients have been treated with the product having 2200 mg of CBD per ounce. This is the highest concentration available in a CBD cream.
Good Pharma was looking for a “full-service” CBD manufacturing operation, which can give premium CBD raw materials, R&D, manufacturing as well as fulfillment services. The company is amongst a handful of CBD providers with expertise and operational capacity for meeting industry needs.
The fresh line of Remei products will harness Panacea’s PANA Pure CBD to improve the effectiveness of products. Furthermore, it will ameliorate the firm’s manufacturing and distribution services for augmenting sales and improving operational efficiencies.
Dr. Larry Good, MD, founder and CEO of Good Pharmaceutical Development Co expressed delight in commencing the fresh phase of product development and manufacturing. Good said that Panacea is miles ahead in expertise and industry knowledge in the CBD formulation space. He added that the management team strongly believes that Remei will scale new heights.
Key Quote
“I’m delighted to commence the new phase of product development and manufacturing of our award winning chronic pain relief cream with Panacea Life Sciences,” said Dr. Larry Good, MD, founder and CEO of Good Pharmaceutical Development Co. “Panacea is years ahead in their industry knowledge and expertise in the CBD formulation space, and we felt very strongly that their management team and science-based operations would propel Remei to new heights.”
Technical Data
PLSH stock is trading below the 50-Day and 200-Day Moving averages of $0.57 and $1.44 respectively. However, the stock is trading above the 20-Day moving average of $0.46.
