A Sunderland firm that claims to be among the first in the º£½ÇÊÓƵ to produce medical cannabis is expanding into new headquarters and boosting the pay of some staff.
Curaleaf Laboratories is set to move into new premises on Wessington Way and introduce a £25,000 minimum starting salary for those workers previously earning minimum wage. The 187-strong business, which was born out of pharmaceutical 'specials' maker Rokshaw Laboratories, says it hopes the move will encourage similar sized companies to follow suit.
The £19m turnover firm became part of US-based Curaleaf's European business in 2019, joining its strategy to bring medical cannabis to a wider market. Owing to º£½ÇÊÓƵ laws, the firm's plants are grown to exacting standings in Spain and Portugal before the raw material is shipped to Wearside for processing into a range of products which can be prescribed by Curaleaf's own network of clinicians.
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Since its inception 11 years ago by brothers Jonathan and Richard Hodgson, Rokshaw had created bespoke, alternative forms of medicines. The firm became focused on medical cannabis, which is a multibillion-dollar industry in the US but has only slowly taken shape in the º£½ÇÊÓƵ following changes in the law over the past six years.
Following the firm's acquisition by Curaleaf, it has focussed efforts on creating a series of products such as gummies, vape cartridges and dried cannabis bud. At the moment patients are unable to get it prescribed on the NHS, other than in a small number of specialist cases, so the firm operates a virtual private clinic where people, typically sufferers of chronic pain, can get an online consultation with consultants, doctors and pharmacists.
The Sunderland firm has identified growth in the market with suggests that about 1-2% of the population could be using medical cannabis products within five years. Meanwhile Curaleaf International is targeting growth around Europe where laws are being changed in some countries.
Speaking to BusinessLive, Curaleaf's Matt Brown said: "We've just let all of the staff know that we've committed to all starting salaries being £25,000 a year. We recognise that people just can't afford to live on less." He added: "We've also got other benefits with holiday of 27 days a year and private medical insurance for everyone. And we give everyone £800 in quarterly bonuses."
Curaleaf is said to be the largest cannabis company in the world, with revenues of more than $1bn. It has grown considerably over recent years thanks to a series of global acquisitions.
