Receives first UK licence for a storage and distribution
facility dedicated to medicinal cannabis, under the MHRA 'specials'
program for unlicensed medicines
Wins exclusive contract to supply medical cannabis in
Luxembourg, connecting country to
Canopy Growth's European network
SMITHS FALLS, ON, OXFORD,
England and
FRANKFURT, Germany, Oct.
21, 2019 /CNW/ - Canopy Growth Corporation (TSX: WEED),
(NYSE: CGC) ("Canopy Growth" or the "Company"), is pleased to
provide updates on key developments in the United Kingdom ("UK") and Luxembourg. In these countries, the Company's
pharmaceutical business, Spectrum Therapeutics, continues to expand
its sophisticated, pan-European cannabis production and
distribution network serving the needs of physicians and their
patients. Canopy Growth is committed to transforming healthcare in
Europe by providing better access
to medical cannabis treatments that have the potential to improve
the lives of millions of patients.
United Kingdom
In the UK, Spectrum Therapeutics has received licences from the
Medicines and Healthcare products Regulatory Agency ("MHRA") and
Home Office to store and distribute cannabis-based medicinal
products ("CBMPs"). The first of its kind facility in the UK is
designed to reduce prescription delivery time, a key development as
the company establishes its footprint in the UK. The licence also
allows the company to import CBMPs to the UK directly from
Spectrum's European and global networks, optimizing its supply
chain and reducing overheads, without need for third-party
suppliers.
Cosmo Feilding Mellen, Managing
Director, Spectrum Therapeutics in the UK, said
"Medicinal cannabis has been available in the UK for less than
twelve months, and in that time, we have established cost-effective
UK infrastructure to meet the needs of patients."
Continued Mellen, "We are delighted to have been granted
licences from both the MHRA and Home Office in order to provide a
solution to one of the most significant barriers for access in the
UK. We are actively working with regulators to find the best way to
ensure we can deliver continuous treatment to patients within the
framework that exists."
Spectrum Therapeutics passed a rigorous preliminary inspection
from the MHRA to receive a licence. The company will continue to
work closely with the MHRA and the Home Office to maintain the
agreed terms, ensuring that CBMPs can be stored at volume in the UK
under the highest standards of practice.
Luxembourg
Spectrum Therapeutics has become the exclusive supplier of
medical cannabis to the Grand Duchy of Luxembourg ("Luxembourg"). The contract will
see Luxembourg receive medical
cannabis from Spectrum's licensed facilities in Denmark and around the world until
December 31, 2021.
In 2018, the Government of Luxembourg unanimously passed a law to
decriminalize medical cannabis for patients with severe unmet
needs. Under the new legislation, general practitioners and
specialist medical professionals who have undertaken specific
training are able to prescribe cannabis to eligible patients in
Luxembourg. Patients with severe
needs include those living with cancer, neuro-degenerative, chronic
and painful diseases.
"We are proud to share news of this decision from the government
of Luxembourg, connecting patients
to medicine supplied through our European platform," said
Paul Steckler, Co-Managing Director
of Europe, Canopy Growth.
"Luxembourg is a country with big
ambitions when it comes to medical cannabis, and we are excited to
have earned the opportunity to supply this new market."
Canopy Growth has received all authorizations required to import
medical cannabis into Luxembourg
and has completed the first shipment of medicinal cannabis to
Luxembourg's Division de la
Pharmacie et des Medicaments.
Here's to Future Growth (in Europe).
About Canopy Growth Corporation
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.
Canopy Growth's medical division, Spectrum Therapeutics is
proudly dedicated to educating healthcare practitioners, conducting
robust clinical research, and furthering the public's understanding
of cannabis, and has devoted millions of dollars toward cutting
edge, commercializable research and IP development. Spectrum
Therapeutics sells a range of full-spectrum products using its
colour-coded classification Spectrum system as well as single
cannabinoid Dronabinol under the brand Bionorica Ethics.
Canopy Growth operates retail stores across Canada under its award-winning Tweed and Tokyo
Smoke banners. Tweed is a globally recognized cannabis brand which
has built a large and loyal following by focusing on quality
products and meaningful customer relationships.
From our historic public listing on the Toronto Stock Exchange
and New York Stock Exchange to our continued international
expansion, pride in advancing shareholder value through leadership
is engrained in all we do at Canopy Growth. Canopy Growth has
established partnerships with leading sector names including
cannabis icons Snoop Dogg and Seth
Rogen, breeding legends DNA Genetics and Green House Seeds,
and Fortune 500 alcohol leader Constellation Brands, to name but a
few. Canopy Growth operates eleven licensed cannabis production
sites with over 4.7 million square feet of production capacity,
including over one million square feet of GMP certified production
space. For more information visit www.canopygrowth.com
Notice Regarding Forward Looking Statements
This news
release contains "forward-looking statements" within the meaning of
the United States Private Securities Litigation Reform Act of 1995
and "forward-looking information" within the meaning of applicable
Canadian securities legislation. Often, but not always,
forward-looking statements and information can be identified by the
use of words such as "plans", "expects" or "does not expect", "is
expected", "estimates", "intends", "anticipates" or "does not
anticipate", or "believes", or variations of such words and phrases
or state that certain actions, events or results "may", "could",
"would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements or information involve known and unknown
risks, uncertainties and other factors which may cause the actual
results, performance or achievements of Canopy Growth or its
subsidiaries to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking statements or information contained in this news
release. Examples of such statements include statements with
respect to leadership changes and transitions. Risks, uncertainties
and other factors involved with forward-looking information could
cause actual events, results, performance, prospects and
opportunities to differ materially from those expressed or implied
by such forward-looking information and such risks contained
in the Company's annual information form dated June 27, 2018 and filed with Canadian securities
regulators available on the Company's issuer profile on SEDAR at
www.sedar.com. Although the Company believes that the assumptions
and factors used in preparing the forward-looking information or
forward-looking statements in this news release are reasonable,
undue reliance should not be placed on such information and no
assurance can be given that such events will occur in the disclosed
time frames or at all. The forward-looking information and
forward-looking statements included in this news release are made
as of the date of this news release and the Company does not
undertake an obligation to publicly update such forward-looking
information or forward-looking information to reflect new
information, subsequent events or otherwise, unless required by
applicable securities laws.
SOURCE Canopy Growth Corporation