A pharmaceutical processor is a facility that has obtained a permit from the Board of Pharmacy pursuant to § 54.1-3408.3 tocultivateCannabis plants for the production of CBD oil and/or THC-A oil, and to dispense oils to patients registered by the BOP and who have obtained a written certification from a board-registered physician. It is a “vertical” operation meaning that the plants are grown, oils produced, and oils dispensed all fromthe same facility. Each facility is responsible for the quality of oils produced.
As set forth in §54.1-3442.6 of the Code of Virginia, the Board may issue or renew in any year a maximum of five pharmaceutical processor permits, one for each health service area established by the Board of Health. The application process for pharmaceutical processor permits has three stages: submission of initial application (deadline June 2018), awarding of conditional approval (Fall 2018), and granting of a pharmaceutical processor permit (likely in 2019, after construction and board inspection of the facility). The quality of the applications will determine which applicant(s) will awarded conditional approval. Up to five pharmaceutical processors are expected to go online in 2019.
Source - Pharmaceutical Processors in the Commonwealth of Virginia - Page 2:
1) It looks like that once the facility inspection and approval processes are completed in 2019, BLDV's client Dharma will be able to ***cultivate*** its own cannabis for the purpose to make the CBD oil. I think this is a significant part of the license now that Dharma has received conditional approval.
2) The facility will involve cultivation/growing and storage of the cannabis and other supplies before processing. After processing, the product has to undergo quality testing, packaging, labelling, tagging, secure storage before distribution and then shipping/receiving. The facility will need to be big enough and organized to handle all of these aspects of the vertical operation.
3) Possible revenue sources for BLDV from Dharma Pharmaceuticals as a client include:
1. Cannareet product licensing revenues
2. CBD processing technologies licensing revenues
3. Consulting fees
4. Project and construction management fees
4) Rhine, it is the technologies and the Cannareet formula that BLDV and H360 will be selling to Dharma as the client who holds the permit from the Virginia BoP, BLDV and H360 will not be producing or distributing the products for this project with Dharma.
5) The 5/15/19 BLDV PR indicated the following of how the Cannareet product line will be supplied in Virginia (i.e. under license from Cann10) without needing ownership in Cann10 NA:
“With the team we have now internally, it will no longer be necessary to have a separate company to deliver the full integration services needed for the Cannareet GMP Certified Product line to be supplied in Virginia."
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