Lucy Scientific teams up with Pramantha Group to secure government contracts and grants
by CM staff
With access to these funds, Lucy Scientific will be able to expand its drug manufacturing capabilities and contribute to the country's healthcare needs.
VICTORIA — Lucy Scientific Discovery Inc., an early-stage psychedelics manufacturing company, has partnered with Pramantha Group, a firm specializing in securing key government contracts and grants, to enhance its drug manufacturing capabilities and meet the growing demand for essential drugs and medical supplies.
The US government has been taking proactive measures to secure the domestic drug supply from international risks, given the shortages of pharmaceutical drugs, nutraceuticals, and even baby formula in recent years. As part of this effort, multiple federal agencies across the US and Canada made funding available to support domestic drug manufacturing.
According to the United States International Trade Commission, the total value of pharmaceuticals imported into the United States was approximately $130 billion in 2020. The U.S. is one of the largest importers of pharmaceutical products in the world, and imports a wide variety of drugs including prescription drugs, over-the-counter medications, and active pharmaceutical ingredients (APIs) from countries such as China, India, and Ireland.
With access to these funds, Lucy Scientific will be able to expand its drug manufacturing capabilities and contribute to the country’s healthcare needs.
“Our partnership with Pramantha Group will help us navigate the complex landscape of government contracts and grants and identify the right opportunities to support our growth and contribute to the country’s healthcare needs,” said Lucy Scientific Discovery’s CEO Chris McElvany. “We are excited to work with Pramantha Group to enhance our drug manufacturing capabilities and play a key role in securing the domestic drug supply. Pramantha has a proven track record and a commitment to excellence that makes it an ideal partner for Lucy as we look to grow our operations.”
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