Canopy Growth buys German medical cannabis company for $343M
SMITHS FALLS, Ont. - Canopy Growth Corp. has signed a deal to buy a German company that specializes in cannabinoid-based medical therapies used by European physicians for roughly $342.9 million.
May 2, 2019 By The Canadian Press
Under the deal, the Ontario-based company has acquired C3 Cannabinoid Compound Co.
C3’s main medicinal offering is dronabinol, a compound with standardized concentrations of THC (tetrahydrocannabinol), the main psychoactive compound in cannabis.
Dronabinol is available in Austria, Denmark and Germany.
C3 has two manufacturing facilities specializing, respectively, in natural extraction and synthetic cannabinoid production.
The company’s senior management team is expected to continue with the business.
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