Until recently, Toronto’s InstaDose Pharma has kept a low profile. But now, the company is ready to flood the market with CBD oil in excess. How much oil is that, exactly? The 2 million liters justify the word “excess.” Interestingly enough, the company employs more than 200,000 Congolese farmers. They cover more than 247.000 acres of land. No wonder IDP needs a workforce that large. Moreover, the EU Pharmacopeia standards regulate and accredit their GMP-certified production facility.
The CEO of iSum, James Reed, addressed the Canadian cannabis companies. He said that their national success shouldn’t prevent them from aiming higher. According to him, even the biggest fish should always look to the whales of the industry. The base for Canadian cannabis industry is the price of CBD oil, which is $2800 per liter. That fact further supported his previous claim.
The company worried about the effect of this news on the public investment sector. Not only that, but the news would also affect the licensed producers. That is why the company has kept their operations a secret. However, Sanders now thinks it’s high time that the smaller companies learned about their larger counterparts.
New Frontiers in Cannabis Production
So far, the company has invested more than $76 million in the current project. Now, they are discussing the possibility of cooperating with major pharmaceutical companies. These companies should assist IDP with the launch of the first imported batch. Furthermore, they plan on doubling their production land after the Canadian market gets its first 90,000 liters.
Canopy (Canopy Growth Corp, trading under the ticker CGC) is the largest Canadian cannabis producer. It currently has close to a 100 acres of land at its disposal. Yet, IDP has ten times as much land only in Colombia. Sanders adds that Colombia alone could not satisfy their ambitions.
He explains that that Colombia wasn’t the best option. It didn’t take IDP much time to realize that. Yet, DRC offered 99% more benefits for both the company and their users. Simply put, DRC provided an optimized price and greater production capacity.
In the end, Sanders announced that the change in the market was not the result of IDP’s action. In fact, it had more to do with the inaction of their competitors. He illustrated this by saying that nobody can blame their lack of speed on the fact that Usain Bolt is the world’s fastest runner.