Canopy Growth Revenue Misses on Legal Canadian Cannabis

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  • #18966
    ClemSnide
    Participant

    Canadian marijuana firm Canopy Growth Corp. ($WEED TSX…

    [article]1203[/article]

    #19001
    Truman
    Participant

    So they underestimated the legalization aspect for people to come buy from them but daresay has much to do about price, dealers and their loyal customers

    #19132
    Truman
    Participant

    Canopy Growth said it would invest CAD $9.5 million into testing medical marijuana for treating opioid dependence in the U.K.

    Beckley Canopy Therapeutics Ltd., a U.K. firm partly owned by Ontario-based Canopy, will conduct the tests. While the U.K. legalized medical cannabis earlier this month, adoption has been slow. Companies such as Canopy are in the process of getting permits to import the drug, doctors need to learn about when to prescribe it, and government guidelines limit the potential for widespread applications. Clinical research will help facilitate wider acceptance of cannabis by the medical community, according to Mark Ware, Canopy’s chief medical officer.

    “All eyes are focused on the U.K. right now to see this program move forward,” he said in a phone interview. “The discussion has gone from zero to 100 in the space of a few months.”

    Canopy contributed about one-third of the funds for the project, which is expected to start early next year. The rest of the money came from a group of investors including Manx Financial Group Plc Chairman Jim Mellon, Richard Reed, co-founder of juice company Innocent Drinks, and biotech entrepreneur Annalisa Jenkins.

    https://www.bloomberg.com/news/articles/2018-11-30/canadian-weed-giant-backs-medical-marijuana-trials-in-u-k

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