Government of Jamaica

You are here

Jamaica needs to take full advantage of nutraceutical industry


Article Archives
Mon
Tue
Wed
Thu
Fri
Sat
Sun
1
2
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
 
July 2017
 
  • The Jamaica Intellectual Property office this week celebrates Intellectual Property week from Sunday April 22, 2018… https://t.co/cQbaGZ13Xg Posted: 11 hours 36 min ago
  • Minister of Industry, Commerce, Agriculture and Fisheries, Hon. Audley Shaw, speaking at the Sandals Resort Interna… https://t.co/oDhszhcijk Posted: 1 day 48 min ago
  • Minister of Industry, Commerce, Agriculture and Fisheries, Hon. Audley Shaw (right), converses with Acting Mission… https://t.co/6l8wYCoDPm Posted: 1 day 53 min ago

Director general in the Ministry of Industry, Commerce, Agriculture and Fisheries, Vivian Brown (right), greets scientist and executive chairman, Eden Gardens Group of Companies, Dr. Henry Lowe, at the Special Announcement of the Food & Drug Administration (FDA's) Orphan Drug Status Award Function for the treatment of Leukemia, held at the Eden Gardens Wellness Resort and Spa, Lady Musgrave Road in Kingston, on Wednesday, July 12, 2017. Looking on at centre is executive editor, Publications at the Jamaica Observer, Vernon Davidson.

Above Body

 13 Jul 2017    communications   

Director General in the Ministry of Industry, Commerce, Agriculture and Fisheries, Mr. Vivian Brown says that there is clear need for more to be done if Jamaica is to take full advantage of the nutraceutical industry, which can bring in up to US$2 billion and capture around 5% of the world market.
He noted that, “Jamaica is in a very good position to establish an avenue for long-term foreign exchange earnings by producing and exporting more nutraceutical products, and also with more of our entrepreneurs entering the industry, so this is undoubtedly achievable”.
The director general, representing the Minister of Industry, Commerce, Agriculture and Fisheries, Hon. Karl Samuda was speaking at a special announcement ceremony on the award of the Food and Drug Administration (FDA) Orphan Drug Status for the Novel Drug Chrysoeroil for the treatment of leukemia, to the Bio-Tech R &D Institute, held at the Eden Gardens Wellness Resort and Spa on Wednesday, July 12, 2017.
According to the director, general, there is real long term value to be derived from the growth of this market, which is expected to exceed US$250 billion globally by 2018.
Mr. Brown also spoke of the need for the nutraceutical industry to be properly regulated for Jamaica to maximize its full potential.
“The current lack of regulation, standards and formalized structures has limited the extent to which our local products and services can be developed and marketed to achieve global appeal and optimal market penetration. It is against this background that the government is seeking to effectively regulate the sector through legislative amendments and enactment of new legislation,” he stated.
This designation by the Food and Drug Administration is the first to be awarded to Jamaica or any Caribbean national or country. The Chrysoeroil drug has been developed from a species of Jamaican cannabis (ganja).
=30=

The Ministry

Welcome to the official website of the Ministry of Industry, Commerce, Agriculture and Fisheries.

The Ministry of Industry, Commerce, Agriculture and Fisheries (MICAF) has been charged with the responsibility of driving the integration of the production of primary agricultural produce along all the stages of the supply chain through to value added and facilitating full commercialization of outputs of the agriculture, manufacturing, and service sectors.

We have, therefore, placed much energy and enthusiasm into the development of this website to provide timely information on the Ministry, our agencies and programmes.

Twitter

  • The Jamaica Intellectual Property office this week celebrates Intellectual Property week from Sunday April 22, 2018… https://t.co/cQbaGZ13Xg Posted: 11 hours 36 min ago
  • Minister of Industry, Commerce, Agriculture and Fisheries, Hon. Audley Shaw, speaking at the Sandals Resort Interna… https://t.co/oDhszhcijk Posted: 1 day 48 min ago
  • Minister of Industry, Commerce, Agriculture and Fisheries, Hon. Audley Shaw (right), converses with Acting Mission… https://t.co/6l8wYCoDPm Posted: 1 day 53 min ago

4 St. Lucia Avenue, Kingston 5, Jamaica
Telephone: (876) 968-7116 
Fax: (876) 960-7422 

Hope Gardens, Kingston 6, Jamaica
Telephone: (876) 927-1731-50 / (876) 619-1731
Fax: 876-927-1904
Email: psecoffice@micaf.gov.jm