CTPharma has purchased a 216,532 square foot building in Rocky Hill from the pharmaceutical company McKesson Corporation, which had moved out.
CTPharma CEO Tom Schultz said the company is reluctantly leaving Portland, where it enjoyed operating since the beginning of its operations in 2014 and where it has operated ever since.
“CTPharma’s relationship with the Town of Portland was excellent and we were reluctant to leave,” Schultz said. “However, there were no buildings available in Portland that were big enough for CTPharma’s planned expansion and we were very fortunate to identify and purchase the McKesson property.”
CTPharma made an application to the Rocky Hill Planning and Zoning Commission last summer and received a special permit to operate a medical marijuana production facility at the 280 Dividend Road, Rocky Hill site of the McKesson building.
Source: CT Pharma
CTPharma currently employs approximately 50 people in its highly regulated pharmaceutical production operations. CTPharma currently has a groundbreaking FDA-approved clinical study underway with Yale School of Medicine as well as other current studies at Yale School of Medicine and at UCONN School of Agriculture.
Schultz said that CTPharma expects to double its work force as it moves its operations to Rocky Hill and to steadily increase employment as it utilizes more and more of its new home.
CTPharma Chief Operating Officer Rino Ferrarese said of the move to the new facility that he looks forward to “developing CTPharma products into standard medications that the American market understands and trusts.”
“Connecticut patients should expect quality and consistency from our products, just as they would from any other product offered on an American shelf,” Ferrarese said.
Tom Schultz, CTPharma said Connecticut’s medical marijuana program -- the leading program in the nation – has great potential to establish the foundation of a biotech industry.
“The biotech opportunity will fall to the state whose program and products best serve the needs of its patients and we believe that CTPharma will help Connecticut be that state,” Schultz said. “We are working with a plant that obviously interacts with human biology and we have been fortunate that the legislature and the Department of Consumer Protection have given us the green light to investigate the scientific and medical potential of cannabis.”
“Unlocking that potential is the goal of the Yale/CTPharma clinical study with human subjects, and we intend to press forward with other studies that always should have been undertaken,” Schultz said.
CTPharma expects to move into the Rocky Hill facility and begin production over the next eighteen months.
For more information:
CTPharma
47 Lower Main Street, Portland, CT 06480
(860) 740-4340
patientinformation@ctpharma.com
ctpharma.com