06:37:44 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



Canopy Growth Corp
Symbol CGC
Shares Issued 107,417,613
Close 2016-07-22 C$ 2.83
Market Cap C$ 303,991,845
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Canopy Growth receives OK to export pot to Germany

2016-07-25 08:16 ET - News Release

Mr. Bruce Linton reports

TWEED: COMING TO A GERMAN PHARMACY NEAR YOU - CANADIAN MARKET LEADER ANNOUNCES APPROVALS TO HAVE TWEED PRODUCTS AVAILABLE FOR SALE TO GERMAN PATIENTS THIS SUMMER

Canopy Growth Corp.'s wholly owned subsidiary, Tweed Inc., has received necessary approvals in Canada and Germany to begin export of medical cannabis for sale to German patients.

Working with MedCann GmbH Pharma and Nutraceuticals, a privately held pharmaceutical importer and manufacturer, the transfer marks an important milestone for the company and the first known incidence of dried cannabis being exported from a Canadian licensed producer to a major G7 country.

"Introducing Tweed product to German medical cannabis patients is an exciting and groundbreaking event," said Bruce Linton, chairman and chief executive officer of Canopy Growth. "Patients will soon have a new choice in variety for their medical cannabis, and we are honoured to be involved in the changing landscape for German access and choice."

Germans can presently access legal medical cannabis through pharmacies for a variety of medical conditions, though adequate domestic production has not yet been established. Tweed will launch an initial two strains in Germany and hopes to bring further variety to market as soon as possible.

"As the German population now knows, the regulatory aspects and laws concerning medical cannabis have evolved to address the growing needs of medical cannabis patients in Germany," said Dr. Pierre Debs, co-founder of MedCann. "Now, in the summer of 2016, through the concerted efforts of MedCann and Tweed, patients across Germany can be assured of a new supply and variety of the highest-quality medical cannabis."

Building on recent announcements in Australia and Brazil, Canopy has now partnered to bring its products, expertise and brands to four continents. In addition to providing products for sale to the German market, Canopy through its subsidiaries, Bedrocan Canada and Tweed, is increasingly focused on the provision of dried cannabis and cannabis oils for the purpose of clinical trials and research to ensure health care practitioners, government policy leaders and patients have the best available evidence to make informed decisions on medical cannabis within their regulatory frameworks and practices.

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