Colorado-basedcannabinoid research and certified GMP manufacturing company, Panacea Life Sciences Inc (OTCMKTS:PLSH) on May 12, 2022, introduced the new vegan softgel manufacturing capabilities for the firm’s CBD products as well as private label and nutraceutical partners.
On Thursday, PLSH stock ended flat at $0.4455 with 200 shares, compared to its average volume of 1.7K shares. The stock moved within a range of $1.6900 – 1.6900 after opening trading at $0.4455.
The company has harnessed proprietary technology and R&D to successfully mass-produce vegan softgels. This is an alternative to using animal by-products as vegan soft gelsare made from plant-based ingredients. The firm’s softgel is made from tapioca starch derived from the root of the cassava plant.
Additionally, the vegan softgel formulation gives superior stability exceeding bovine gelatin and satisfiesthe vegan requirements of a large consumer base. The two softgel lines can make more than one million softgels per day.
The firm has engineered equipment to make the vegan softgels more cost-effective for clients. These softgels have a number of features including rapid delivery, enhanced absorption, and no odor concerns.
Nick Cavarra, Panacea’s EVP of Sales, and Marketing said that Panacea vegan softgels meet severalclean label standards asked by Panacea customers. Cavarra added that it facilitates contract manufacturing customers to create product differentiation in the highly competitive CBD as well as Nutraceutical markets.
The company will be attending the White Label World Expo in Las Vegas on May 25th and 26th.
“Panacea vegan softgels meet many clean label standards requested by Panacea customers and helps our contract manufacturing customers create product differentiation in the highly competitive CBD and Nutraceutical markets” comments Nick Cavarra, Panacea’s EVP of Sales and Marketing.
PLSH stock is trading below the 20-Day and 50-Day Moving averages of $0.39 and $0.46 respectively. Moreover, the stock is trading below the 200-Day moving average of $1.20.