Canadian cannabis for Germany

Canada's Canopy Growth Corporation establishes a foothold in Germany through its subsidiary Tweed. The company will export medical cannabis to Germany. Tweed will be the first company to set up transatlantic medical cannabis transactions.

Bruce Linton, CEO of Canopy Growth, is delighted with this major first: «Giving German patients access to Tweed products is a revolutionary event. Patients will soon have a new choice of strains for their medical cannabis. We are honored to be involved in the evolution of the global landscape and support the German choice.»

From 2017, Germans will have access to medical cannabis in pharmacies. For the time being, self-production is not authorized. The German Minister of Health admits that importing Canadian cannabis is only temporary: «Until production by the National Cannabis Agency is assured, we'll be sourcing abroad. The Germans prefer Dutch cannabis, but Canadian cannabis offers the advantage of a wider range of products.

«It's a very important market, and certainly the best one for setting up in Europe.»

The company has already forged international links with Brazil and Australia. But for the first time, it is planning to establish a physical presence abroad. Canopy Growth wants to set up a production site in the UK.

Since this announcement, Canopy Growth has received further good news. Its listing on the Toronto Stock Exchange (TSX) has just been approved. The share price has risen 14 % since the announcement of this transcontinental agreement. «Being the first cannabis producers to go public on a major North American stock exchange sends a message to the world: the vision of cannabis has changed, and it starts here in Canada.» And this could be just the beginning of the adventure, according to Globe and Mail. The Canadian newspaper reports that since the legalization of medical cannabis in Canada, The number of patients is increasing by 10% every month. There are currently over 500,000 patients in Canada.