Canopy Growth enters the Danish medical cannabis market
Continuation of the «Canada goes wherever it can in Europe to produce and sell medical cannabis» series. Canopy Growth will invest CAD 10 million in a joint venture with Danish Cannabis ApS.
The new entity will be called Spectrum Denmark and will aim to meet the needs of Danish patients treating themselves with medical cannabis when legal sales begin in January 2018.
According to Canopy, Danish patients have until now had limited access to expensive compounds sold in a single pharmacy. The company is confident that its experience in the production of medical cannabis and the manufacture of medicines will encourage Danes to prefer their oil and dried cannabis products.
Denmark had decided in November 2016 to implement a 4-year pilot project to experiment with the use of cannabis for therapeutic purposes. Patients suffering from multiple sclerosis, chronic pain, spinal cord injuries or nausea and vomiting resulting from chemotherapy may be eligible for cannabis-based treatments.
Europe is now at the heart of Cannadian companies' commercial ambitions. Recent agreements include:
- Canopy Growth to produce medical cannabis in Spain
- Tilray to invest 20 million euros in Portugal to build a huge cannabis production site
- Aurora and Canopy will supply the German market in medical cannabis
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