TORONTO, June 25, 2018 /CNW/ – Cronos Group Inc.
(NASDAQ: CRON) (TSX: CRON) ("Cronos Group" or
the "Company"), is pleased to announce that it has entered
into a strategic distribution partnership with Delfarma Sp. Zo.o
("Delfarma"). Founded in 2004, Delfarma is a privately owned
pharmaceutical wholesaler and was the first company in Poland to introduce international parallel
import of medicinal products from European Economic Area countries.
Delfarma distributes directly to over 5,000 pharmacies and more
than 200 hospitals, a distribution network that reaches
approximately 40% of the Polish domestic market.
Under the initial five-year exclusive distribution agreement,
Cronos Group's global subsidiaries will supply Peace Naturals
branded cannabis products to Delfarma for distribution within
Poland. Leveraging Delfarma's
extensive distribution network, this partnership provides Cronos
with unrivaled access to the Poland market. The parties are simultaneously
working to obtain the necessary regulatory approvals within
Poland for the full line of
medical cannabis products with the aim to offer patients in
Poland a variety of premium
treatment options.
"We are thrilled to partner with Delfarma, an innovative,
established and reputable pharmaceutical leader," said Mike Gorenstein, CEO of Cronos Group.
"Delfarma's expertise and widespread distribution channels are
aligned with Cronos' strategic focus on building an international
distribution platform by partnering with existing industry
leaders."
The strategic partnership with Cronos confirms Delfarma's
creative and resourceful approach to the ever changing
pharmaceutical market in Poland.
"We want to actively shape the market by offering new and
differentiated products to patients," said Tomasz Dzitko, Founder and CEO of Delfarma. "We
are excited that with Cronos, we will launch medical cannabis in
Poland just months after its
legalization and by doing so extend the optionality for treatment
of various medical conditions to improve the lives of
patients."
About Delfarma
Delfarma is a pharmaceutical wholesaler and manufacturer in
Poland. As a pioneer and parallel
distribution leader, Delfarma markets approximately 500 medicinal
products, both prescription and OTC, supplied to pharmacies,
pharmaceutical wholesalers and hospitals. Delfarma's storage and
repacking facilities are fully owned and operated, guaranteeing
complete control of processes, continuity of sales and creating
flexibility for Delfarma's partners. Delfarma is constantly
expanding its product portfolio and extending its customer base in
line with its long standing objective to be "Always one step
ahead!" Parallel distribution is the only form of competition
for any specific medicine during the life of its patent. It stems
from price differentials among national markets within the European
Economic Area. All transactions are done through authorized
pharmaceutical wholesalers. Since 2005, parallel distribution in
Poland had generated over PLN 1
billion (CAD 400 million) of savings
to the government, national health insurer and patients by making
original, innovative medicines available at a lower cost.
About Cronos Group
Cronos Group is a globally diversified and vertically integrated
cannabis company with a presence across four continents. The
Company operates two wholly-owned Canadian licensed producers
regulated under Health Canada's Access to Cannabis for Medical
Purposes Regulations: Peace Naturals Project Inc., which
was the first non-incumbent medical cannabis license granted by
Health Canada, and Original BC Ltd., which is based in the Okanagan
Valley, British Columbia.
The Company has multiple international production and
distribution platforms including in Germany, Israel and Australia. The Company intends to
continue to rapidly expand its global footprint as it focuses on
building an international iconic brand portfolio and develop
disruptive intellectual property. Cronos Group is committed
to building industry leading companies that transform the
perception of cannabis and responsibly elevate the consumer
experience.
Forward-looking statements
This news release contains "forward-looking information" and
"forward-looking statements" within the meaning of applicable
Canadian and U.S. securities laws. All information contained
herein that is not clearly historical in nature may constitute
forward-looking information. In some cases, forward-looking
statements can be identified by words or phrases such as "may",
"will", "expect", "plan", "anticipate", "intend", "potential",
"estimate", "believe" or the negative of these terms, or other
similar expressions intended to identify forward-looking
statements. Some of the forward-looking statements contained in
this press release, include the Company's access to the Polish and
European markets, the Company's ability to supply international
markets, the Company's intention to continue to rapidly expand its
global footprint, build an international iconic brand portfolio and
develop disruptive intellectual property. Forward-looking
statements are necessarily based upon a number of estimates and
assumptions that, while considered reasonable by management, are
inherently subject to significant business, economic and
competitive risks, uncertainties and contingencies that may cause
actual financial results, performance or achievements to be
materially different from the estimated future results, performance
or achievements expressed or implied by those forward-looking
statements and the forward-looking statements are not guarantees of
future performance. A discussion of some of the material
risks applicable to the Company can be found in the Company's
current MD&A and Annual Information Form, both of which have
been filed on SEDAR and can be accessed at www.sedar.com. The
forward-looking information included in this news release is made
as of the date of this news release and, except as required by law,
Cronos Group disclaims any obligation to update or revise any
forward-looking statements. Readers are cautioned not to put undue
reliance on these forward-looking statements.
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SOURCE Cronos Group Inc.