Canopy Growth forms Brazilian partnership to tap into medical marijuana market

TORONTO — Canopy Growth Corp., the largest of Canada’s publicly traded marijuana companies, is preparing to export its expertise through a new Brazilian partnership.Canopy’s Bedrocan subsidiary and its Brazilian partners have created a new company to import proprietary varieties of cannabis into Brazil — a country with a population of 200 million.Initially, Bedrocan Brazil will import cannabis products into Brazil from Canada or the Netherlands.Canopy Growth Corp trims losses, posts higher revenue in 2016 fiscal yearPodcast: Bruce Linton of Canopy Growth on how the Amazon model is good for marijuana businessMedical marijuana producer Bedrocan lowers its prices to $5 a gramEventually, the company will establish domestic cultivation facilities in Brazil using Bedrocan’s genetic material and cultivation technology.The Canadian company will also partner with Sao Paulo-based Entourage Phytolab SA to develop medical cannabis products for the Brazilian and international markets.Entourage will be responsible for developing the standardized cannabis extracts for pre-clinical and clinical trials. Canopy anticipates that the clinical trials will be completed by the end of 2017.On Monday, Canopy reported that it generated $12.7 million of revenue and a $3.5 million loss in its 2016 financial year, an improvement from the $2.4 million in revenue and $9.35 million loss in fiscal 2015.

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