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Neptune Wellness Solutions

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Neptune Wellness Solutions, Inc.
Nasdaq: NEPT TSX: NEPT
IndustryPackaged Goods
HeadquartersQuebec, Canada
Key people
Michael Cammarata (CEO)
Websiteneptunecorp.com

Neptune Wellness Solutions, Inc. is a diversified wellness company that provides nutraceuticals, organic food and beverages, and consumer packaged goods to retail and business customers.[1] Originally known for Antarctic krill oil production,[2] the company previously operated an industrial-scale licensed cannabis processing plant in Quebec, CA,[3] and a hemp processing facility in North Carolina in the U.S. until selling the cannabis business in 2022.[4]

History

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Krill Oil Production and Nutrition Products

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Neptune Wellness Solutions (originally Neptune Technologies and Bioresources)[5] was founded by Henri Harland and Luc Rainville in 1998.[6] The Canadian biotech company conducted some of the first research on the health benefits of krill oil and the unique, absorption capacity of its “phospholipid” molecular structure and the fats contained within it.[7][8][9][10] Neptune secured a family of patents - for an extraction process as well as composition and method of use.[10][11][12]

In 2002, the company pioneered the production and extraction of Antarctic krill oil.[7] In 2003, after constructing a new facility in Sherbrooke, Quebec,[13] Neptune launched its first product, Neptune Krill Oil, creating a new omega-3 category, manufactured using acetone as a solvent.[7]

In 2012, an explosion in Neptune's processing plant resulted in three deaths and halted production at the facility.[14] Following the accident, the company spent two years rebuilding the plant and was required to meet several safety conditions before resuming production in 2014.

In January 2016 Neptune expanded its nutrition products offering via the acquisition of privately held dietary supplement solution provider BioDroga.[15]

In 2017, Neptune essentially exited the bulk krill oil manufacturing and distribution business, selling its client list to its main competitor, Aker BioMarine of Oslo, Norway, for $34 million.[16] The company invested to convert its Sherbrooke facility to process cannabis biomass using new cold-ethanol technology[17] and rebranded to Neptune Wellness Solutions.[18][19]

In 2019 and following a significant transformation of the company via acquisition, divestment, and new business innovation Neptune was recognized for the first time by the Toronto Stock Exchange as a top 30 performing company for the three-year period prior to June 2019 (#8).

In July 2019, Jim Hamilton, CEO since 2015 stepped down at which time his successor Michael Cammarata, the former CEO of Schmidt's Naturals.[20] was appointed as Neptune's CEO.

In 2021 Neptune announced the acquisition of a controlling interest in Sprout Foods.[21]

Cannabis / Hemp Production

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Neptune was licensed by Health Canada in January 2019 to enter the cannabis market, allowing the company to manufacture and purify cannabis extracts and oil.[22]  After receiving the license, the company entered into a three-year contract with Canadian companies The Green Organic Dutchman and Tilray, securing cannabis and hemp biomass for extraction of crude resin, winterized oil, and distillate extracts for their products.[23][24] In May 2019, Neptune entered the U.S. hemp market by acquiring the assets of SugarLeaf Labs and Forest Remedies.[25] The purchase included a 24,000-square-foot cold-ethanol hemp processing facility, located in Conover, NC.[26]

Products

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Krill Oil

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Made from Antarctic krill, a sustainable and non-genetically modified source of omega-3 fatty acids, Neptune's krill-based supplements are available to consumers in the U.S. and Canada for direct purchase or through its distributors.[19]

Hemp Oil

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Neptune produces hemp-derived products exclusively from U.S.-grown hemp. The company is involved in all aspects of product production, including farmer collaboration during the growth cycle to processing, formulating, testing, packaging, and distributing finished products to customers. Its products include ingestibles and topical products and are safe for both humans and pets.[27]  

Cannabis Oil

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At its Canadian facility, Neptune extracts, purifies, and formulates cannabis oil for the Canadian and global medical cannabis communities.

Hand Sanitizer

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Neptune began distributing U.S.-made, alcohol-based hand sanitizers in response to the COVID-19 pandemic.[28]

References

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  1. ^ Editorial, Reuters. "NEPT.A - Neptune Wellness Solutions Inc Profile | Reuters". www.reuters.comundefined. Retrieved 6 December 2020. {{cite web}}: |first= has generic name (help)[dead link]
  2. ^ nutraingredients-usa.com. "Neptune Tech plans big expansion". nutraingredients-usa.com. Retrieved 17 December 2019.
  3. ^ "Neptune and High Park receive processing licenses". Retrieved 17 December 2019.
  4. ^ Krawiec, Sebastian (9 May 2019). "Neptune Wellness Solutions acquires SugarLeaf Labs to establish U.S. hemp supply chain". Nutritional Outlook. Retrieved 17 December 2019.
  5. ^ "Henri Harland Resigns as President & CEO of Neptune, Acasti & NeuroBio". Nutraceuticals World. Retrieved 17 December 2019.
  6. ^ "Krill Oil benefit and side effects, pure Antarctic and NKO Neptune". www.raysahelian.com. Retrieved 17 December 2019.
  7. ^ a b c Moran, Susan (12 March 2012). "Tracking Antarctic Krill as More Is Harvested for Omega-3 Pills". The New York Times. ISSN 0362-4331. Retrieved 17 December 2019.
  8. ^ Massrieh, Wael (2008). "Health benefits of omega-3 fatty acids from Neptune krill oil". Lipid Technology. 20 (5): 108–111. doi:10.1002/lite.200800022. ISSN 1863-5377.
  9. ^ "Neptune Technologies and Bioressources - In for the krill - Ingredients Insight". www.ingredients-insight.com. Retrieved 17 December 2019.
  10. ^ a b "Neptune's new NKO Focus supports brain, eye health". New Hope Network. 5 December 2014. Retrieved 17 December 2019.
  11. ^ US 8278351, Sampalis, Fontini, "Natural marine source phospholipids comprising polyunsaturated fatty acids and their applications", published 2012-10-02, assigned to Neptune Technologies & Bioressources Inc. 
  12. ^ US 8030348, Sampalis, Fotini, "Natural marine source phospholipids comprising polyunsaturated fatty acids and their applications", published 2011-10-04, assigned to Neptune Technologies & Bioressources Inc. 
  13. ^ "Neptune Technologies & Bioressources inc. annonce la clôture d'un nouveau financement et l'implantation de son usine à Sherbrooke". Université de Sherbrooke (in French). 30 January 2002. Retrieved 17 December 2019.
  14. ^ "2 killed, 19 injured in Sherbrooke factory explosion". CBC.ca. 9 November 2012. Retrieved 17 December 2019.
  15. ^ "Biodroga unveils new way to consume vitamins for private label". Store Brands. Retrieved 24 March 2022.
  16. ^ Grebow, Jennifer (8 August 2017). "Neptune Exits Bulk Krill Oil Business, Aker BioMarine Buys Neptune's Inventory and IP". Nutritional Outlook. Retrieved 17 December 2019.
  17. ^ "Neptune Achieves a Milestone with Completion of Phase II Expansion". finance.yahoo.com. Retrieved 17 December 2019.
  18. ^ "Neptune Confirms its Name Change to Neptune Wellness Solutions Inc". MarketWatch. Retrieved 17 December 2019.
  19. ^ a b "Day 13: How its fish-oil roots could give Neptune an edge in cannabis extraction". The Globe and Mail. 14 October 2019. Retrieved 17 December 2019.
  20. ^ Woelfel, Joseph (8 July 2019). "Neptune Wellness Names Michael Cammarata as New CEO, Replacing Jim Hamilton". TheStreet. Retrieved 31 January 2020.
  21. ^ Bellini, Martina (11 March 2021). "Neptune Wellness Solutions Inc.'s Acquisition of Controlling Interest in Sprout Foods". Retrieved 21 March 2022.
  22. ^ Jennifer Grebow (10 January 2019). "Health Canada approves Neptune cannabis license". Nutritional Outlook. Retrieved 17 December 2019.
  23. ^ "Around the industry: Origin House; TGOD; Bill C93". Retrieved 17 December 2019.
  24. ^ Owusu, Tony (7 June 2019). "Tilray and Neptune Wellness Announce Multi-Year Extraction Partnership". Stock Market - Business News, Market Data, Stock Analysis - TheStreet. Retrieved 17 December 2019.
  25. ^ cosmeticsdesign.com (16 October 2019). "Fragrance house IFF is developing CBD products for the US market". cosmeticsdesign.com. Retrieved 17 December 2019.
  26. ^ Krawiec, Sebastian (9 May 2019). "Neptune Wellness Solutions acquires SugarLeaf Labs to establish U.S. hemp supply chain". Nutritional Outlook. Retrieved 17 December 2019.
  27. ^ Nelson, Ryan (15 November 2019). "Neptune Wellness, IFF Partner To 'Up The Game' In Hemp/CBD Personal Care". HBW Insight. Retrieved 31 January 2020.
  28. ^ "Neptune Wellness Solutions - Health & Wellness Innovations". Archived from the original on 12 April 2020. Retrieved 6 December 2020.
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