Canopy Growth announces partnership with established Spanish pharmaceutical

Ontario-based Canopy Growth (TSX:WEED), the largest cannabis producer in Canada, and its subsidiary Spektrum Cannabis GmbH of Germany, which distributes cannabis medicine to hundreds of pharmacies in Germany, announced a supply license agreement with Alcaliber, S.A., a leading Spanish international pharmaceutical company. Alcaliber, founded in 1973, does research, development, breeding and cultivation, as well as extraction and purification of opioid-based Narcotic Raw Materials (NRMs) and active Pharmaceutical ingredients (APIs).

The partnership brings Alcaliber’s proven background in using controlled substances to produce plant-based medications to Canopy and Spektrum, plus an established distribution network into the European market. “This gives us the additional resources to aggressively enter the European market (through Spektrum) where federally permitted by law…” said Bruce Linton, Chairman and CEO if Canopy Growth.

From the deal, Alcaliber gets the opportunity to move into the cannabis business. It has been granted a license from Spanish authorities to cultivate, produce and export/import cannabis for medical and scientific purposes. Canopy Growth will grant Alcaliber a license to use some of its strains and seeds at Alcaliber facilities worldwide

Canopy traded up 3.27% on the news today to C$9.48 on volume of over 2 million shares. Canopy stock declined from March to June, when it bottomed at C$6.82. Since then it has risen
39% to its present price.

Source: Canopy Growth press release

Canopy Growth announces partnership with established Spanish pharmaceutical

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Canopy Growth announces partnership with established Spanish pharmaceutical