Canopy Growth Corp (TSX: WEED) (NYSE: CGC) released news this morning highlighting the company’s recent developments in the international medical cannabis and CBD markets. Canopy’s medical cannabis division, Spectrum Therapeutics provided the following updates and highlights.
- The company signed a multi-year manufacturing deal with Colombia-based Procaps in Latin America.
- Canopy’s medical cannabis division Spectrum Therapeutics obtained new licenses, certifications, and sales in international markets.
- Canopy now has more than 35m sq ft of production space throughout Europe, South America and Africa.
Canopy provided further updates on the following international markets:
- Latin America
- Canopy signs multi-year deal with Colombia based Procaps S.A.S.
- Procaps develops, manufactures, and markets OTC medications and nutritional supplements for a number of international pharma companies.
- Procaps exports to over 50 international markets, including the United States.
- Canopy is licensed to produce over 13.6 million sq ft of THC or CBD dominant cannabis in Columbia.
- Asia Pacific
- Spectrum Therapeutics receives first medical cannabis oil shipment in Australia during April 2019. First sales to medical patients occurred in May 2019.
- Medical patient registrations have increased tenfold over the past year to over 1,300.
- Canopy’s Victoria-based greenhouse and post-production facility are now under construction.
- Spectrum Therapeutics in Denmark received a license from the Danish Medicines Agency for its Odense facility.
- Spectrum becomes the first Canadian company to obtain a Danish federal production license.
- The facility is both GACP and GMP certified.
- Canopy continues to integrate its recent strategic acquisitions of German-based vaporizer company Storz & Bickel and C3 Cannabinoid Compound Company.
- Spectrum Therapeutics was awarded a medical cannabis production license for 2 facilities in Lesotho.
- This included 21 million sq ft of outdoor grow space and 322,000 sq ft of combined indoor, outdoor and greenhouse space. CBD and CBD-THC balanced strains will be cultivated there.
- The company now has one of the largest legal outdoor CBD cultivation sites in all of Africa.
- Spectrum also acquired 12 hectares of land located in Cape Town South Africa to establish licensed cannabis production operations.
Keep up to date with Canopy Growth:
About Canopy Growth:
Canopy Growth (TSX: WEED) (NYSE: CGC) is a world-leading diversified cannabis, hemp, and cannabis device company, offering distinct brands and curated cannabis varieties in dried, oil and Softgel capsule forms, as well as medical devices through Canopy Growth’s subsidiary, Storz & Bickel GMbH & Co. KG. From product and process innovation to market execution, Canopy Growth is driven by a passion for leadership and a commitment to building a world-class cannabis company one product, site and country at a time. Canopy Growth has operations in over a dozen countries across five continents.
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