C3 Cannabinoid Company Acquired by Canopy Growth

Canopy Growth

The obtaining unites Canopy Growth’s therapeutic business with Europe’s biggest cannabinoid-based pharmaceuticals organization. C3 is a main producer and wholesaler of dronabinol, an enrolled pharmaceutical medication in Germany, Austria, Switzerland, and Denmark.

Dronabinol was the first cannabinoid item in Germany that could be recommended by the nation’s doctors. In 2018, C3 provided around 19,500 patients in Germany with dronabinol, accomplishing a YOY increment of 85%. In 2018, C3 accomplished offers of roughly €27.1 million (CDN$ 41.5 million) with cannabinoid items around the world.

Critical expansion to the Company’s European framework including vigorous deals and showcasing association previously serving drug stores and human services specialists.

Gives existing generation of pharmaceutical evaluation API (dynamic pharmaceutical fixing), both regular and engineered THC and CBD, to help pharmaceutical deals development and continuous worldwide clinical research programs. C3 at present holds a few licenses identified with cannabis including extraction innovation and the manufactured creation process and has a few clinical preliminaries in progress.

SMITHS FALLS, ON and NEUMARKT, Germany, May 2, 2019/PRNewswire/ – Canopy Growth Corporation (“Canopy Growth” or the “Organization”) (TSX: WEED) (NYSE: CGC) is satisfied to report that it has obtained German-based, Bionorica SE-established C3 Cannabinoid Compound Company (“C3”) in a transformative arrangement that will see set up single cannabinoid medications united with the world’s driving full-range therapeutic cannabis advertising.

All money obtaining for €225.9 million (CDN $342.9 million) facilitates Canopy Growth’s venture into European markets with physician recommended medications and gives the Company quick access to an abundance of information and licensed innovation that C3 has created in its about 20 years of innovative work into engineered and common cannabis medicinal items.

C3’s essential restorative offering is dronabinol, an unadulterated substance compound with institutionalized groupings of tetrahydrocannabinol (THC), one of the dynamic fixings found in cannabis plants that is in charge of different pharmacological impacts. Dronabinol is accessible in Austria, Denmark, and Germany for queasiness and regurgitating stubborn to regular treatment in oncology and palliative consideration, and for disease torment. In Germany, dronabinol can be recommended for an incessant agony and for any condition in palliative consideration. C3 has an aggregate of five medications in the market and its business activities produced €27.1 million (CDN $41.5 million) in 2018.