Groupe LSL Pharma announces increased production capacity
by CM Staff
The Company also plans to add a new manufacturing line towards the end of 2024, which could further double production capacity and enable the development of new products.
BOUCHERVILLE — Groupe LSL Pharma Inc., a Canadian integrated pharmaceutical company, announces that its total annual production capacity will be increased by approximately 35% to 40% as early as 2023, and further for 2024 and 2025, with its new facility in La Pocatière and a series of manufacturing optimizations in Upton. The Company also says that its MD&A, as well as its financial statements have been publicly published, as of May 30, 2023.
“The first quarter of 2023 was a period of transformation for LSL Pharma Group, as we began trading as a publicly traded company and made significant progress in expanding the manufacturing footprint and capacity of our two business units,” said François Roberge, President and CEO of LSL Pharma Group. “We are pleased with the improvement in profitability achieved in the first quarter, which is typically our weakest quarter of the year, and we are particularly excited about the increased output at our new LSL Laboratory plant and the upcoming increase in Steri-Med’s production capacity. The continued and significant increase in our production capacity will enable us to further expand our product offering and satisfy a broad customer base.”
Since the beginning of May 2023, the Company has occupied a new plant in La Pocatière. Production at the new plant will gradually ramp up until the end of the year.
In parallel, capacity optimization initiatives at the Steri-Med plant in Upton, Quebec, are progressing according to plan, which should double capacity by the end of 2023. The Company also plans to add a new manufacturing line towards the end of 2024, which could further double production capacity and enable the development of new products.
“This double expansion will play a key role in organic sales growth of around $5 million annually. The LSL site expansion enables us to broaden our product offering, adding new natural health products to our private label business and developing new customers. It will also enable us to pursue our expansion into new international markets, such as the United States and Europe. At the same time, Steri-Med’s additional capacity will accelerate our penetration of the vast US market for sterile ointments in the first instance, and subsequently for eye drops. Finally, given our solid financial position, we remain on the lookout for strategic acquisitions that will enable us to further expand our product portfolio,” added Mr. Roberge.
