Canopy Growth (C:CGC) has provided an update on the government’s new policy surrounding veterans insurance coverage and an overview of the practices of its wholly owned subsidiaries, Tweed and Bedrocan Canada, as they relate to veterans. Canopy Growth welcomes governmental commitment to maintaining veterans’ insurance.
As quoted in the press release:
Canopy Growth’s current veterans program
In light of the findings of the Auditor General’s Spring 2016 Report outlining cost increases for medical marijuana veterans coverage by Veterans Affairs Canada, the recent VICE News reports alleging unethical or illegal price inflation by two other Licensed Producers as it relates to prices for insurance-covered veterans, recent concerns expressed by CFAMM, and today’s resulting policy changes made by the Canadian government, Canopy Growth would like to make it definitively clear that it does not and has never engaged in any practice to inflate pricing for veterans.
Bruce Linton, CEO of Canopy Growth, said the following:
“With cost overruns and allegations of unethical price inflation, it was possible that the Government could have ended all insurance coverage, so we are pleased that Veterans Affairs will continue to offer our veterans access to this emerging therapeutic option, and that coverage has been extended to oils as well.”