The Canada-based Canopy Growth Corporation has reportedly announced that it has successfully acquired C3 Cannabinoid Compound Company – a Bionorica SE-founded German firm. As per trusted sources, the acquisition deal would bring together the world’s foremost full-spectrum medical cannabis offerings along with single cannabinoid medicines.
Reportedly, the all cash-deal is being valued at about CDN 342.9 million. Industry experts claim that the deal would expand Canopy Growth Corporation’s reach in the European nations with prescription medicines and would allow it to access a wealth of intellectual property that the company has created over the last 2 decades via research and development into natural and synthetic cannabis medical products.
The Co-CEO and Chairman of Canopy Growth Corporation, Bruce Linton was reportedly quoted saying that the new acquisition would enable the company to offer more options to doctors across Europe and speed up the pace of commercial sales, drive forward new innovations, and increase the company’s economic footprint on the continent.
The goal of Canopy Growth Corporation is to build upon the extraordinary reputation of C3 and decades of success as the company moves to a unique range of medical cannabis therapies which would allow physicians globally to treat their patients in a better manner, Linton further added.
Reportedly, the chief medicinal offering of C3 is dronabinol – a pure chemical compound with uniform concentrations of tetrahydrocannabinol (THC). It is available in Germany, Denmark, and Austria for nausea and vomiting refractory to traditional treatment in cancer pain, oncology and palliative care. For the record, THC is one of the active ingredients found in cannabis plants and is responsible for various pharmacological effects.
Source Credit: https://finance.yahoo.com/news/canopy-growth-acquires-germanys-c3-110000225.html