High-quality medical cannabis available today in Polish pharmacies; UK presence positions Spectrum to lead in a key emerging market.
Canopy Growth Corporation (TSX:WEED) (NYSE:CGC) (“Canopy Growth” or the “Company”) is pleased to update key European progress in the UK and Poland where its medically-focused business Spectrum Cannabis continues to build a sophisticated, pan-European cannabis production and distribution network serving the needs of physicians and their patients throughout the continent.
In the United Kingdom the Company has formed Spectrum Biomedical UK, a new company focused on providing access to cannabis-based medicinal products to UK patients with severe unmet clinical need.
Spectrum Biomedical UK was formed as a joint venture between Canada’s Canopy Growth and Oxford-based research-company Beckley Canopy Therapeutics to address a groundswell of patient need for high quality, standardised cannabis-based medicinal products in the UK. Under the British government’s new classification, which took effect November 1, specialist doctors in the UK can prescribe cannabis-based medicines to patients managing a wide range of symptoms – from chronic pain, chemotherapy-induced nausea and vomiting, to muscle spasticity for those with multiple sclerosis.
Following the launch, Spectrum Biomedical UK now has the opportunity to introduce Spectrum Cannabis medicinal cannabis products to UK patient groups and doctors. Spectrum UK will also engage in physician education to ensure doctors are exposed to the deep breadth of research showing the therapeutic benefits of cannabis. The combination of these actions will help build capacity within the UK’s healthcare sector, providing patients reliable access to Spectrum Cannabis products and information physicians can use to support them in their practice.
“There is significant real-world and clinical evidence supporting the safety and effectiveness of cannabis-based medicinal products. However, due to the current regulations and lack of education about medicinal cannabis among clinicians in the UK, there remain considerable obstacles to patient access. Spectrum UK has the expertise and ambition to simplify the UK medicinal cannabis landscape and ensure access to cannabis-based medicinal products for patients with great clinical unmet need,” said Dr. Mark Ware, Chief Medical Officer, Canopy Growth.
In addition to expanding its medicinal cannabis operations in the UK, Canopy Growth’s Toruń-based team, Spectrum Cannabis Polska, successfully completed its first import of medical cannabis after completing a rigorous regulatory approval process to have the product assessed and approved for sale.
In last week’s import, Spectrum Cannabis Polska received its high-THC whole flower product, Red No. 2. “This shipment is an important first step in a new European market towards building our pan-European operations,” says Dr. Pierre Debs, Managing Director, Canopy Growth Europe. “We continue to follow our overall plan of self-sufficiency in Europe to be able to best provide individuals with high-quality medical cannabis.”
Spectrum Cannabis Polska is a new entity and the fifth of its kind for the Company in European markets. According to the Polish Pharmaceutical Chamber, which represents about 15,000 pharmacies in Poland, it is estimated that up to 300,000 patients could qualify for medical cannabis treatment. The Company is committed to transforming healthcare in Europe by providing better access to medical cannabis treatments that have the potential to improve the lives of millions of patients.
Spectrum Cannabis: Medical Cannabis. Simplified.