Mile High Labs, the US-based manufacturer of CBD isolate, has announced the purchase of a 400,000 square foot pharmaceutical production facility in Broomfield, Colorado. The site was previously owned by pharma giant Novartis.
The acquisition included the land, labs, building, and ready-to-use finished products manufacturing equipment.
“Many analysts have been openly wondering when pharma would take over the CBD industry, but what if the opposite were true?” said Stephen Mueller, chief technology officer and founder, Mile High Labs.
Mueller said the transaction is the largest infrastructure purchase in the history of the CBD market and it’s only the beginning for Mile High Labs.
"Over the coming quarters, we plan to leverage this tremendous infrastructure to build the global centre for CBD products manufacturing,” he said.
Fully operational
The Broomfield facility is fully operational, which allows Mile High Labs to begin production in the near term of private label products including tinctures, capsules, tablets, topicals, and gummies.
The facility includes equipment and infrastructure for research and development, quality assurance, bottling, filling, packing, warehousing, labelling, shipping and compliance monitoring.
Centre of Excellence
Colorado is deemed the centre of the hemp industry in the US and, within it, the Mile High Labs campus is expected to play a key part.
Mile High Labs plans to create an environment for advanced training, research and collaboration within the industry.
“CBD is an amazing molecule that we’re only beginning to understand,” said Mueller. “Just as Silicon Valley in California has fostered innovation and collaboration in the tech industry, Mile High Labs will create a CBD Center for our industry to learn, innovate, grow and succeed.”
The Broomfield campus marks the third move since the Colorado company was founded in 2016. Originally based in Longmont, production moved to a larger building in Loveland in 2017.
Mile High Labs began looking for a larger facility after the passage of the 2018 Farm Bill legalised hemp and created unprecedented demand for CBD.
“In light of recent legislative developments, the demand for our products has increased considerably,” said Mueller. “And it’s not just a domestic phenomenon. CBD is a global product and we serve a global customer base. This large-scale production facility will ensure we have the capacity to provide high quality, consistent CBD to every customer, large or small.”
