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(Globe Newwire) Vancouver – HYTN Innovations Inc., a pharmaceutical company specializing in the development, formulation, and manufacturing of psychoactive and psychotropic compounds, including cannabis and psilocybin, is pleased to announce the receipt of initial orders and import permits from the UK’s 4C Labs.
This achievement allows HYTN to begin exporting cannabis-based pharmaceuticals to the UK under the company’s recently established agreements. The first shipment, manufactured by HYTN under Good Manufacturing Practices (GMP) standards, reflects HYTN’s commitment to expanding its global reach and providing high-quality cannabis products to international markets.
“We are thrilled to take this next step with 4C Labs,” stated Elliot McKerr, Chief Executive Officer of HYTN. “This milestone underscores the strength of our collaboration and signals the shift from a domestic to international cannabis company.”
HYTN notes the receipt of this initial order and importation permits required the company to obtain registration on the UK’s National Drugs Control System (NDS) which has since been completed. Now registered, HYTN is permitted to transact with UK companies that hold a UK domestic controlled drug or domestic drug precursor license.
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4C LABS is a Canadian based Medical Cannabis company which is building a vertically integrated, quality-driven infrastructure for procuring and delivering premium medical cannabis products to the UK, EU and other international regulated markets.
The UK legal cannabis market is experiencing significant growth, with its value expected to increase from $134.9 million in 2023 to $537.9 million by 2030, reflecting a compound annual growth rate (CAGR) of 21.8%.
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