ABcann appoints proven pharma leader as new CEO

ABcann Global Corporation (TSX-V:ABCN) has appointed Barry Fishman as new CEO, effective October 1, 2017. Fishman brings a strong history of pharma business leadership and international growth to ABcann, as the Ontario-based cannabis production company continues its international growth strategy.

ABcann traded up 2.35% on the news to $0.87 on volume of 413k. It has a market cap of $86M. ABcann’s expansion plans include building out its current Napanee Ontario facility to 30,000 sq ft, and building out a new facility in Napanee to 150,000 sq ft. It is also pursuing opportunities in Germany, Australia and Israel.

Fishman brings 20 years of business leadership to the ABcann CEO role. Prior to this assignment, he was CEO at the international specialty pharmaceutical company Merus Labs (TSX:MSL) (NASDAQ:MSLI). Under his leadership, Merus grew at a compound annual rate of 50%, leading to its purchase in July 2017 for roughly $342 million.

Fishman also previously served as CEO of Teva Canada and Taro Canada. He began his career at Eli Lilly, where he rose to become Vice President of Marketing.

Fishman was chosen for his “proven experience as a CEO of complex, highly-regulated organizations with international operations,” according to Ken Clement, Executive Chairman.

ABcann received one of Canada’s first production licenses in March 2014, and its sales license in December 2015. Its main facility in Napanee Ontario produces organically-grown, pesticide-free high-yielding plants using proprietary plant-growing technology in climate-controlled environments.

Source: Global Newswire, Abcann Medicinals

ABcann appoints proven pharma leader as new CEO

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ABcann appoints proven pharma leader as new CEO