Canopy Offers Update on European Presence Expansion

Cannabis Investing News

Canopy Growth announced progress on its European presence with the start of medical cannabis sales in Polish pharmacies and the creation of a division in the UK.

Canopy Growth (NYSE:CGC,TSX:WEED) announced progress on its European presence with the start of medical cannabis sales in Polish pharmacies and the creation of a division in the UK.

As quoted in the press release:

United Kingdom

In the United Kingdom the Company has formed Spectrum Biomedical UK, a new company focused on providing access to cannabis-based medicinal products to UK patients with severe unmet clinical need.

Spectrum Biomedical UK was formed as a joint venture between Canada’s Canopy Growth and Oxford-based research-company Beckley Canopy Therapeutics to address a groundswell of patient need for high quality, standardised cannabis-based medicinal products in the UK. Under the British government’s new classification, which took effect November 1, specialist doctors in the UK can prescribe cannabis-based medicines to patients managing a wide range of symptoms – from chronic pain, chemotherapy-induced nausea and vomiting, to muscle spasticity for those with multiple sclerosis.

Poland
In addition to expanding its medicinal cannabis operations in the UK, Canopy Growth’s Toruń-based team, Spectrum Cannabis Polska, successfully completed its first import of medical cannabis after completing a rigorous regulatory approval process to have the product assessed and approved for sale.

In last week’s import, Spectrum Cannabis Polska received its high-THC whole flower product, Red No. 2. “This shipment is an important first step in a new European market towards building our pan-European operations,” says Dr. Pierre Debs, Managing Director, Canopy Growth Europe. “We continue to follow our overall plan of self-sufficiency in Europe to be able to best provide individuals with high-quality medical cannabis.”.

Click here to read the full press release.

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