High-quality medical cannabis available today in Polish
pharmacies; UK presence positions Spectrum to lead in a key
emerging market.
SMITHS FALLS, CANADA,
OXFORD, UK, TORUŃ, POLAND, Jan. 21,
2019 /PRNewswire/ - Canopy Growth Corporation (TSX:
WEED) (NYSE: CGC) ("Canopy Growth" or the "Company") is pleased to
update key European progress in the UK and Poland where its medically-focused business
Spectrum Cannabis continues to build a sophisticated, pan-European
cannabis production and distribution network serving the needs of
physicians and their patients throughout the continent.
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.
Following the launch, Spectrum Biomedical UK now has the
opportunity to introduce Spectrum Cannabis medicinal cannabis
products to UK patient groups and doctors. Spectrum UK will also
engage in physician education to ensure doctors are exposed to the
deep breadth of research showing the therapeutic benefits of
cannabis. The combination of these actions will help build capacity
within the UK's healthcare sector, providing patients reliable
access to Spectrum Cannabis products and information physicians can
use to support them in their practice.
"There is significant real-world and clinical evidence
supporting the safety and effectiveness of cannabis-based medicinal
products. However, due to the current regulations and lack of
education about medicinal cannabis among clinicians in the UK,
there remain considerable obstacles to patient access. Spectrum UK
has the expertise and ambition to simplify the UK medicinal
cannabis landscape and ensure access to cannabis-based medicinal
products for patients with great clinical unmet need," said Dr.
Mark Ware, Chief Medical Officer,
Canopy Growth.
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."
Spectrum Cannabis Polska is a new entity and the fifth of its
kind for the Company in European markets. According to the Polish
Pharmaceutical Chamber, which represents about 15,000 pharmacies in
Poland, it is estimated that up to
300,000 patients could qualify for medical cannabis treatment. The
Company 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.
Spectrum Cannabis: Medical Cannabis. Simplified.
About Spectrum Cannabis
Spectrum Cannabis, a
wholly-owned subsidiary of Canopy Growth, is dedicated to
simplifying medical cannabis for patients and healthcare
practitioners. Spectrum Cannabis is an international medical
business which interfaces with healthcare professionals and
patients around the world. Founded in Canada, Spectrum Cannabis operates in
Australia, South America, Africa and across Europe. Spectrum Cannabis products are
available in a wide range of potencies and formats designed to
simplify the dialogue around strength and dosage by applying a
colour-coded Spectrum to categorize medical cannabis according to
THC and CBD levels. Its product lineup includes whole flower
cannabis, oils and new innovations such as Softgels. Through
product simplification, easy dosing formats, and ongoing education
of healthcare professionals, Spectrum is committed to improving the
lives of medical cannabis patients around the globe.
About Canopy Growth Corporation
Canopy Growth is a
world-leading diversified cannabis and hemp company, offering
distinct brands and curated cannabis varieties in dried, oil and
Softgel capsule forms. Canopy Growth offers medically approved
vaporizers through the Company'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. The Company has operations in
over a dozen countries across five continents.
The Company is proudly dedicated to educating healthcare
practitioners, conducting robust clinical research, and furthering
the public's understanding of cannabis, and through its wholly
owned subsidiary, Canopy Health Innovations ("Canopy Health"), has
devoted millions of dollars toward cutting edge, commercializable
research and IP development. Canopy Growth works with the Beckley
Foundation and has launched Beckley Canopy Therapeutics to research
and develop clinically validated cannabis-based medicines, with a
strong focus on intellectual property protection. Canopy Growth
acquired assets of leading hemp research company, ebbu, Inc.
("ebbu"). Intellectual Property ("IP") and R&D advancements
achieved by ebbu's team apply directly to Canopy Growth's hemp and
THC-rich cannabis genetic breeding program and its cannabis-infused
beverage capabilities. Through partly owned subsidiary Canopy
Rivers Corporation, the Company is providing resources and
investment to new market entrants and building a portfolio of
stable investments in the sector.
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 icon Snoop Dogg, breeding legends DNA Genetics and Green
House seeds, Battelle, the world's largest nonprofit research and
development organization, and Fortune 500 alcohol leader
Constellation Brands, to name but a few. Canopy Growth operates ten
licensed cannabis production sites with over 4.3 million square
feet of production capacity, including over 500,000 square feet of
GMP certified production space. The Company operates Tweed retail
stores in Newfoundland and
Manitoba and has entered into
supply agreements with every Canadian province and territory. 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 the Company's international operations in Poland and the UK.
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,
including the Company's ability to satisfy provincial sales
contracts or provinces purchasing all cannabis allocated to them,
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.
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SOURCE Canopy Growth Corporation