Neptune Wellness

Corporate brand

Neptune Wellness was a Canadian biotechnology and consumer-health company known for Antarctic krill-oil supplements and later for hemp and cannabis processing.

Last updated October 14, 2026

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First read: Nov 4, 2026
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Overview

Neptune Wellness, formerly Neptune Technologies and Bioresources and later Neptune Wellness Solutions, was a Canadian biotechnology and consumer-health company headquartered in Laval, Quebec. Its origins were in research, extraction technology, and branded supplements made from Antarctic krill oil. The company helped develop a commercial category around krill-derived omega-3 products, emphasizing the phospholipid structure of krill oil and its potential role in the absorption and delivery of marine fatty acids. It developed patents covering extraction processes, compositions, and methods of use, and initially operated as both a technology company and a manufacturer. The company was founded in 1998 by Henri Harland and Luc Rainville. After research and development work on krill oil, Neptune pioneered commercial Antarctic krill-oil production in 2002. A new facility in Sherbrooke, Quebec, was constructed, and the company introduced its first Neptune Krill Oil product in 2003. The product was manufactured using acetone as a solvent and was marketed as a source of omega-3 fatty acids derived from Antarctic krill. Krill-oil supplements became the company's principal commercial identity and were sold in Canada and the United States, both directly to consumers and through distribution partners. A major industrial accident altered the company's trajectory. In 2012, an explosion at the processing plant killed three people and stopped production. Neptune rebuilt the facility over approximately two years and resumed operations in 2014 after meeting additional safety requirements. The interruption contributed to a strategic reassessment of the company's original bulk krill-oil manufacturing model. In 2017, Neptune sold its client list to Aker BioMarine, a principal competitor, for a reported $34 million. It then began converting the Sherbrooke facility for cannabis-biomass processing and adopted the Neptune Wellness Solutions name as part of a broader move into wellness ingredients and regulated cannabinoid products. Neptune received a Health Canada licence in January 2019 to manufacture and purify cannabis extracts and cannabis oil. It subsequently entered into a three-year supply arrangement involving cannabis and hemp biomass with Canadian companies including The Green Organic Dutchman and Tilray. The company's intended processing capabilities included crude resin, winterized oil, and distillate extracts. In the same year, Neptune entered the United States hemp market by acquiring assets associated with SugarLeaf Labs and Forest Remedies. The transaction included a 24,000-square-foot cold-ethanol hemp-processing facility in Conover, North Carolina. Neptune described its hemp activities as spanning relationships with growers, extraction, formulation, testing, packaging, and distribution. Its hemp portfolio included ingestible and topical products intended for people and pets. The company later reduced its exposure to cannabis and hemp. In 2021, it announced the acquisition of a controlling interest in Sprout Foods, extending its consumer-products ambitions beyond oils and extracts. In 2022, Neptune sold its cannabis business, while the hemp business was also divested or transferred out of the company's operations according to the company's public history. This left the krill-oil and supplement heritage as the clearest remaining link to the original Neptune identity. Neptune subsequently experienced significant financial and market difficulties. Its Nasdaq listing ended in 2024 after a steep decline in share price. In May 2024, John M. Moretz, who had served as chairman, settled a case brought by the United States Securities and Exchange Commission and agreed to pay a $115,000 civil penalty. The available reference material does not establish a current operating status, current ownership, or a successor organization. Accordingly, Neptune Wellness is best described as a company with an uncertain present status rather than definitively classified as active or defunct.

History

Neptune Wellness began in 1998 as Neptune Technologies and Bioresources, founded by Henri Harland and Luc Rainville in Canada. The company focused on biotechnology and marine-derived nutritional ingredients, particularly Antarctic krill oil. Its research examined the phospholipid structure of krill oil and its possible implications for the absorption of omega-3 fatty acids. Neptune developed patents related to extraction methods, product compositions, and uses. The company pioneered Antarctic krill-oil production in 2002. Following construction of a facility in Sherbrooke, Quebec, it launched Neptune Krill Oil in 2003. The product established the company's early consumer identity and contributed to the growth of krill-based omega-3 supplements in Canada and the United States. Neptune's commercial model included both branded supplements and bulk manufacturing or supply relationships. In 2012, an explosion at the processing plant killed three people and stopped production. Neptune rebuilt the facility during the following two years and returned to production in 2014 after complying with additional safety conditions. The event was a significant operational and safety turning point. By 2017, Neptune was moving away from bulk krill-oil manufacturing and distribution. It sold its client list to Aker BioMarine for a reported $34 million and redirected the Sherbrooke facility toward cannabis-biomass processing using cold-ethanol technology. The company also adopted the Neptune Wellness Solutions name, reflecting a broader wellness and ingredients strategy. Neptune received a Health Canada cannabis-processing licence in January 2019. Its planned capabilities included the manufacture and purification of cannabis extracts and oil, with supply arrangements involving cannabis and hemp biomass from The Green Organic Dutchman and Tilray. In May 2019, it entered the U.S. hemp market through the acquisition of assets associated with SugarLeaf Labs and Forest Remedies. The transaction included a 24,000-square-foot facility in Conover, North Carolina. Neptune described its hemp activities as covering cultivation relationships, processing, formulation, testing, packaging, and distribution, with products for humans and pets. The company continued to pursue consumer-health expansion. In 2021 it announced the acquisition of a controlling interest in Sprout Foods. In 2022, it sold its cannabis business and exited or transferred its hemp operations. In 2024, Neptune was delisted from Nasdaq after a severe share-price decline linked to financial difficulties. That year, chairman John M. Moretz settled a U.S. Securities and Exchange Commission case and agreed to a $115,000 penalty. Publicly available reference material does not provide enough information to establish the company's current ownership, leadership, website, or operating status.

2024
Nasdaq delisting
[1]Neptune Wellnessen.wikipedia.org
Neptune was delisted from Nasdaq amid financial difficulties and a steep decline in its share price.
2022
Cannabis business sold
[1]Neptune Wellnessen.wikipedia.org
The company sold its cannabis business and reduced its exposure to cannabinoid operations.
2021
Sprout Foods investment
[1]Neptune Wellnessen.wikipedia.org
Neptune announced that it had acquired a controlling interest in Sprout Foods.
2019
Canadian cannabis licence obtained
[1]Neptune Wellnessen.wikipedia.org
Health Canada licensed Neptune to manufacture and purify cannabis extracts and oil.
2019
U.S. hemp expansion
[1]Neptune Wellnessen.wikipedia.org
Neptune acquired hemp-processing assets and a facility in Conover, North Carolina.
2017
Strategic shift toward cannabis
[1]Neptune Wellnessen.wikipedia.org
Neptune sold its krill-oil client list to Aker BioMarine and began converting its Sherbrooke facility for cannabis processing.
2014
Production resumes
[1]Neptune Wellnessen.wikipedia.org
After rebuilding and satisfying additional safety conditions, the company resumed production.
2012
Processing-plant explosion
[1]Neptune Wellnessen.wikipedia.org
An explosion killed three people and halted production at the processing facility.
2003
Neptune Krill Oil launched
[1]Neptune Wellnessen.wikipedia.org
The company introduced its first krill-oil product after constructing a new Sherbrooke facility.
2002
Antarctic krill-oil production pioneered
[1]Neptune Wellnessen.wikipedia.org
Neptune began pioneering commercial production and extraction of Antarctic krill oil.
1998
Company founded
[1]Neptune Wellnessen.wikipedia.org
Henri Harland and Luc Rainville founded Neptune Technologies and Bioresources in Canada.

Products and positioning

A science-led wellness and ingredients company that originated in marine omega-3 research and later pursued regulated cannabis, hemp, and consumer-health opportunities.

Dietary supplement · 2003
Neptune Krill Oil
Neptune's original flagship product was an omega-3 supplement made from Antarctic krill. The company emphasized krill oil's phospholipid-based molecular structure and its marine source. Products were offered to consumers in Canada and the United States through direct sales and distributors.
Hemp wellness products · 2019
Hemp-derived products
Neptune's U.S. hemp activities included ingestible and topical products made from U.S.-grown hemp. The company described an integrated process involving grower relationships, extraction, formulation, testing, packaging, and distribution. Products were presented for both human and pet use before this business was sold or transferred out of Neptune's operations.
Cannabis ingredients · 2019
Cannabis extracts and oils
After obtaining a Health Canada licence, Neptune developed capabilities to process cannabis biomass into crude resin, winterized oil, and distillate extracts. The business was intended to supply cannabinoid ingredients and products through arrangements with Canadian cannabis companies. Neptune sold its cannabis business in 2022.

Controversies

2024
SEC settlement involving John M. Moretz
John M. Moretz, who had served as Neptune's chairman, settled a case brought by the U.S. Securities and Exchange Commission and agreed to pay a $115,000 penalty.
Source
2012
Sherbrooke processing-plant explosion
An explosion at Neptune's processing plant killed three people and halted production. The facility was rebuilt and production resumed in 2014 after additional safety conditions were met.
Source

2022
Divestment of cannabis businessStrategy
Background
Neptune reassessed its exposure to cannabis and hemp operations after pursuing those markets through licensing, acquisitions, and processing investments.
Action taken
The company sold its cannabis business and reduced its involvement in cannabinoid operations.
Aftermath
The divestment narrowed the company's operating scope, although the available reference material does not establish its complete post-sale portfolio or current status.
Source
2019
Entry into licensed cannabis extractionProduct launch
Background
Neptune sought to diversify beyond marine supplements into regulated cannabis and cannabinoid ingredients.
Action taken
Following a Health Canada licence, the company pursued extraction and purification of cannabis biomass into resin, winterized oil, and distillate products.
Aftermath
Cannabis became a major part of Neptune's diversification strategy before the business was sold in 2022.
Source
2017
Exit from bulk krill-oil distribution and pivot to cannabis processingStrategy
Background
Neptune had built its business around krill-oil research, manufacturing, and distribution but faced the need to reposition its industrial assets and growth strategy.
Action taken
The company sold its client list to Aker BioMarine and invested in converting the Sherbrooke facility for cannabis-biomass processing using cold-ethanol technology.
Aftermath
The move led to the Neptune Wellness Solutions rebrand and expanded the company into regulated cannabinoid ingredients.
Client-list sale. $34 million (2017)
- Aker BioMarine — Aker BioMarine acquired Neptune's krill-oil client list.
Source

Recent events

2022.02.10
Reported2022.02.10
John Moretz retires as Neptune board chair[2]John Moretz即刻卸任Neptune董事会主席prnewswire.com
Neptune said its prior board chair, John Moretz, announced his retirement effective immediately.
2021.11.15
Reported2021.11.15
Neptune reports fiscal second-quarter 2022 results[3]Neptune 发布 2022 财年第二季度业绩prnewswire.com
Neptune Wellness Solutions announced financial and operating results for the three-month period ended September 30, 2021, reporting revenue of $15.7 million, up 27% from the prior quarter.
2021.11.15
Reported2021.11.15
Neptune announces strategic review action plan and cost reductions[3]Neptune 发布 2022 财年第二季度业绩prnewswire.com
Neptune said it developed an action plan following a strategic review, including reallocating resources to Sprout Foods, Biodroga and cannabis, eliminating non-core operations, personnel reductions and a temporary hiring freeze. The company estimated annual cost savings of approximately US$10 million (C$12.5 million).
2021.11.12
Reported2021.11.12
Neptune Wellness appoints Morry Brown as Vice President, Investor Relations[4]Neptune Wellness任命Morry Brown为投资者关系副总裁prnewswire.com
Neptune Wellness Solutions announced the appointment of Morry Brown as Vice President, Investor Relations, effective November 29, 2021.
2021.03.10
Reported2021.03.10
Neptune announces PanHash cannabis brand[5]Neptune 宣布推出 PanHash 大麻品牌prnewswire.com
Neptune announced its new recreational cannabis brand, PanHash, with an initial planned launch comprising cannabis oil and capsules; the products were expected to be available in Quebec in spring.
2021.03.10
Reported2021.03.10
Neptune and SQDC sign distribution letter of intent for PanHash[5]Neptune 宣布推出 PanHash 大麻品牌prnewswire.com
Neptune announced a letter of intent with Quebec's Société québécoise du cannabis to supply PanHash products for sale in Quebec, including online and in more than 60 retail stores.
2020.07.15
Reported2020.07.15
Neptune appoints Eric Gharakhanian as product development director[6]Neptune任命Eric Gharakhanian为产品开发总监prnewswire.com
Neptune Wellness Solutions announced the appointment of Eric Gharakhanian, Ph.D. as Director of Product Development, Health & Wellness Innovations.
2020.06.02
Reported2020.06.02
Neptune appoints Robert DiPede to senior vice president role[7]Neptune任命Robert DiPede为高级副总裁prnewswire.com
Neptune Wellness Solutions announced Robert DiPede's appointment as senior vice president of its Biodroga business unit and Health & Wellness Innovation division.
2020.04.07
Reported2020.04.07
Neptune appoints Toni Rinow as CFO[8]Neptune任命Toni Rinow为财务长prnewswire.com
Neptune Wellness Solutions announced the appointment of Dr. Toni Rinow as chief financial officer, effective April 7, 2020.
2020.02.13
Reported2020.02.13
Neptune expands American Media partnership for Ocean Remedies[9]Neptune扩大与American Media的合作以支持Ocean Remediesprnewswire.com
Neptune announced an expansion of its strategic partnership with American Media to support the U.S. launch and growth of the Ocean Remedies brand and product line. American Media will provide advertising and creative services valued at US$4.7 million in exchange for Neptune warrants.

Sources13 sources

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