Flora Growth's Flora Labs Receives Good Manufacturing Practices Certification

Flora Growth Corp. FLGC revealed Friday that Flora Lab has received authorization by the Colombian National Food and Drug Surveillance Institute to be Good Manufacturing Practices certified to manufacture cosmetic products. The certification takes effect immediately and enables Flora to produce cosmetic products for export to international markets that require goods to be manufactured under the rigorous GMP standards.

Flora Lab is the company’s manufacturing and research and development division for pharmaceuticals, cosmetics and nutraceuticals that boasts a diversified portfolio with over 190 products and 63 over-the-counter products. The division is focused on expanding its 2,500+ distribution channels and developing new cannabinoid and non-cannabinoid-containing products to sell to its network of pharmacies and wholesale clients domestically and internationally.

Flora Lab Highlights

• Operates a modern 16,000-square-ft facility;
• Holds three (3) GMP certifications: Cosmetics, Phytotherapeutics and Dietary Supplements;
• Has the capability to produce cannabinoid-containing products, including cannabidiol;
• Has more than 18 domestic clients and sells branded products along with white-label products.

“Attaining this certification is a significant accomplishment for our team as it demonstrates our ability to achieve pharmaceutical-grade standards recognized by regulators throughout the world and producing consistent, safe, high-quality cosmetic products,” Luis Merchan, president and CEO of Flora Growth said. “Out of more than 650 cosmetics laboratories throughout Colombia, Flora Lab is only the 13^th company to successfully navigate and implement the rigorous quality standards necessary to reach this level of manufacturing excellence.”

Merchan added that this certification plays a crucial role in its supply chain strategy.

“Will can now pursue distribution agreements for the sale of cannabinoid and non-cannabinoid-containing cosmetic products in global markets where GMP certification is required for market access,” Merchan concluded.

Price Action

Flora Growth’s shares were trading 0.23% higher at $8.70 per share at the time of writing Friday morning.

Photo: Courtesy of Richard T on Unsplash