Canopy Offers Update on European Presence Expansion

- January 21st, 2019

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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