Annabis Medical s.r.o. (“Annabis Medical”) is proud to announce it has completed an acquisition agreement with Canopy Growth Corporation (TSX:WEED) (“Canopy Growth” or the “Company”). This transaction will bring synergies to the Czech market by combining Canopy Growth’s extensive global experience and renowned Spectrum Cannabis brand with Annabis Medical’s network as well as physician and pharmacist education activities.
Annabis Medical is the leader in the Czech Republic’s medical cannabis industry and currently imports and distributes cannabis products pursuant to federal Czech licenses, with products for sale through pharmacy channels across the Czech Republic. Annabis Medical s.r.o is the sister company of Annabis s.r.o., one of the largest hemp cosmetics producers in the European Union. Its founder and CEO, Dr. Robin Kazík, will continue to lead and grow the Czech subsidiary as part of the larger Canopy Growth family.
“With a strong footprint and established distribution network in the Czech medical cannabis market, as well as a history of importing Canadian cannabis, we are excited to join Canopy Growth. This move will allow us to more rapidly diversify our product offering and strengthen our access to supply as we scale in the market,” said Dr. Robin Kazík, Founder and CEO of Annabis Medical. “This transaction is beneficial for Czech patients as Annabis Medical will expand its medical doctor and pharmacist education activities to further the knowledge transfer in medical Cannabis treatment. Further, Annabis Medical currently holds an import permit issued by the Ministry of Health and we expect a new delivery of medical Cannabis to Czech patients in a short time.’’
The acquisition of Annabis Medical builds on Canopy Growth’s position of leadership in the European medical cannabis space and follows the recent partnership and supply agreement with Spanish pharmaceutical leader Alcaliber S.A. Additionally, Canopy Growth currently supplies the German market through its subsidiary, Spektrum Cannabis GmbH, and has formed a partnership, Spectrum Cannabis Denmark ApS, which is licensed to cultivate cannabis in a 40,000 square meter greenhouse production facility located in Odense, Denmark. These assets, combined with Canopy Growth’s unparalleled Canadian production and sales platforms, represent the world’s largest and most diversified cannabis platform.
“This acquisition is another example of our commitment to expanding Canopy’s European presence and furthering our position of leadership,” said Mark Zekulin, President, Canopy Growth. “We look forward to supplying Czech customers with our high quality, GMP-produced medical cannabis products, and providing further resources to support education for Czech pharmacists, patients and healthcare practitioners.”
Pro budoucí růst! (Here’s to Future Growth.)