Canopy Growth Wins UK Cannabis Import Licence
UK Cannabis Import Licence the First; Will Fill Up to 5,000 Prescriptions Per Month – LPC
Canopy Growth has won the first UK cannabis import licence, which will help meet a growing need in the country. The UK cannabis import licence was awarded to its pharmaceutical division, Spectrum Therapeutics. It has already set up its distribution hub, a secret warehouse that will be able to supply up to 5,000 patients per month. It will import its medical cannabis from its facilities in Germany and Denmark.
Medical cannabis was legalized in the UK in November 2018. However, strict regulations means only 1,765 prescriptions have been issued since then. The country is home to 66 million people – almost twice the population of Canada.
Despite the low number of prescriptions, those medical patients often had to wait months to get them filled. Specialist wholesalers had to apply for a licence to bring cannabis into the country. “Licences are granted on a prescription-by-prescription basis only,” the Financial Times of London reported. (Please see link below.)
Now, with Canopy’s UK cannabis import licence and in-country warehouse, prescriptions can be filled the next day.
Global Growth Expected for Canadian Companies – LPC
Canopy’s UK cannabis import licence is symbolic of Canadian licensed producers (LP) succeeding on the global markets. Although details of this most recent deal aren’t available, no doubt Canada’s strict approach to producing cannabis played a part. Its licensed producer system emphasizes quality, security, and safety. These are all things that are important to countries who are new to medical cannabis.
Canopy isn’t the only company with its eyes on the world. Aurora Cannabis is also becoming a global cannabis company.
Aphria was criticized this year for its expansion into Latin America. However, with its recent surprise profits, the move seems to be paying off.
Cronos Group and Tilray, which recently opened its Portugal campus, are also expanding operations globally including the European market.
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