GOLDEN, COLO. — Weds., April 29, 2020 — Panacea Life Sciences, Inc. (Panacea), one of the nation’s leading cannabinoid companies, announced it has transitioned some of its operations to the production and procurement of critical supplies in response to shortages during the COVID-19 pandemic.
“During this time of crisis, Panacea is pleased to do our part to respond to the COVID-19 pandemic by leveraging our existing core competencies to provide important products to prevent the spreading of this virus,” said Leslie Buttorff, Chief Executive Officer of Panacea Life Sciences, Inc. “Panacea prides itself on cultivating wellness every day, and we have regularly been hearing from organizations who are in need of critical supplies. We are proud to step-up and contribute to the collective effort to help protect the doctors, nurses, other health workers, utilities, and government agencies who are caring for others on the front lines.”
Panacea began manufacturing its own CBD hand sanitizers two weeks ago. This effort led to receiving further orders for non-CBD hand sanitizers, as well as a cleansing cream, for front line health care workers and other workers deemed essential at this time. Panacea pivoted some of its normal business operations of manufacturing CBD and other cannabinoid products to working with its global supply chain network, as well as switching its manufacturing capabilities to produce bottles of hand sanitizers (80% ethyl alcohol content for health establishments, 62% ethyl alcohol content for consumers). More than 5 million hand sanitizers will be ready for purchase and distribution the first week in May.
Panacea occupies a former Environmental Protection Agency (EPA) laboratory that was retrofitted to meet Good Manufacturing Practice (GMP) requirements. The company has extraction, manufacturing, testing, and fulfillment capabilities within the laboratory. Panacea is leveraging its existing expertise in strategic sourcing, inventory management, manufacturing, and testing of products using their Enterprise Resource Planning (ERP) system SAP for management to address the pressing need for critical medical supplies around the country. Panacea is also currently providing supplies to local and state municipalities nationwide, including the State of Texas and the State of Arizona.
Panacea produces the highest-quality, hemp-derived, premium CBD products through 100% seed-to-sale operations, and stringent testing. Based in Golden, Colo., Panacea makes products exclusively in the legal, hemp-derived CBD sector for humans and animals that includes fast-acting sublingual tablets, soft gels, gummies, tinctures, cosmetics, sports patches and tapes, and other topicals. For more information about the hand sanitizers, visit www.panacealife.com.
About Panacea Life Sciences, Inc. Panacea Life Sciences, a woman-owned and woman-led company, is dedicated to developing and producing the highest-quality, medically-relevant, legal, THC-free, hemp-derived cannabinoid products for consumers and pets from our 51,000 square foot, state-of-the-art, cGMP, extraction, manufacturing, testing and fulfillment center located in Golden, Colorado. Founded in 2017, Panacea operates in every segment of the CBD product value chain, from cultivation to finished goods, with stringent testing protocols employed at every stage of the supply chain from seed-to-sale. Panacea offers a line of THC-free, human and animal CBD products, including fast-acting sublingual tablets, soft gels, gummies, tinctures, cosmetics, and other topicals. Panacea products can be purchased online at https://panacealife.com. For more information about Panacea Life Science’s history and management team visit https://panacealife.com/about/.
