Canopy Growth to produce medical cannabis in Spain.

Canadian companies continue to invest in Europe. After Tilray, which has formed a partnership with Portugal, now it's Canopy Growth, another major Canadian medical cannabis producer, to gain a foothold in Old Europe.

Through its German subsidiary, Spektrum Cannabis GmbH, Canopy Growth has entered into a strategic partnership with the Spanish company Alcaliber, which currently specializes in poppy cultivation and morphine production. Alcaliber will be able to use Canopy Growth’s strains and seeds and will cultivate them at its own facilities. The final product will be sold internationally.

Last year, Alcaliber received authorization to cultivate, process, import, export, distribute, and sell medical cannabis.

«Entering into this agreement with a major, well-established European partner like Alcaliber—which has proven experience with controlled substances and the ability to produce herbal preparations—reinforces our commitment to diversifying our production capabilities, not only in Canada but also in emerging cannabis markets ,» said Bruce Linton, CEO of Canopy Growth, in the press release.

At Alcaliber, the CEO is also rubbing his hands together. «Alcaliber is truly enthusiastic about pharmaceutical cannabis, and our partnership with Canopy Growth and Spektrum is a perfect match. There is a clear demand for cannabis-based pharmaceutical products that meet pharmaceutical standards, and the expertise we’ve developed in manufacturing narcotic derivatives over the past 40 years, combined withexperience in cannabis held by Canopy Growth and Spektrum will be a major step forward for the industry,» explains Jose Antonio de la Puente.

Do you remember when they used to tell you that the Canada was going to focus heavily on Europe ? It looks like we were right after all!