(Jamaica Observer) LOCAL medical marijuana company, Medicanja Limited, expects to generate approximately $4 billion in sales within four years.
“Revenue from the sales and services of over 18 products that we have planned from Medicanja limited, including six product lines, will be in excess of $4 billion,” said the executive chairman of Medicanja Limited, Dr Henry Lowe.
What’s more, during the first quarter of next year, Medicanja plans to launch an initial public offering (IPO) to raise funds from the market to continue product development and research.
“This will give Jamaicans at home and in the Diaspora a chance to invest” in a product that shares a strong brand association with the country, he said.
On Wednesday, the company launched seven new products that will hit the market in December.
The products are among the first in a line of 18 pharmaceutical and nutraceutical items that the company plans to bring to market over the course of the next year.
‘The magnificent seven’, as the first line of products are called, was designed to help with the ‘pain management of some 84 ailments using products such as marijuana-based rubbing alcohol (CanjaCol), healing oil (CanjaRub), pain-relief spray (CanjaSol), anti-inflammatory cream (CanjaFlam), Arthritis cream (CanjaSolve), sublingual drop (CanjaRelief) and nausea relief sprays (CanjaSure).
Medicanja has plans to expand its line.
