Groupe LSL Pharma Inc. announced 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 Pocatiere and a series of manufacturing optimization in Upton. Since the beginning of May 2023, the Company has occupied a new plant in La Pocatiere. Production at the new plant will gradually ramp up until the end of the year.

In view of the increased capacity, LSL Pharma Group expects revenues from existing customers to grow by more than 15% a year over the next few years. 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 to fuel organic growth.

"This double expansion will play a key role in organic sales growth of around $5 million annually. The LSL site expansion enables to broaden product offering, adding new natural health products to private label business and developing new customers. It will also enable to pursue expansion into new international markets, such as the United States and Europe.