Budget to tout Liberal economic record, provide distraction from SNC furor

Budget to tout Liberal economic record, provide distraction from SNC furor
OTTAWA — The Trudeau government will attempt to set the stage for this fall’s election — and provide some distraction from the SNC-Lavalin affair — with today’s end-of-mandate budget touting the Liberals’ economic record. The Liberal government’s fourth and final budget before the election is expected to include measures to help first-time home buyers, seniors and adult Canadians who want to return... Read More

Tilray to focus investments on U.S., Europe as Canadian assets “overpriced”

Tilray to focus investments on U.S., Europe as Canadian assets “overpriced”
Cannabis producer Tilray Inc. plans to focus the majority of its future investments on the U.S. and Europe, where the growth potential is highest, and will not purchase “overpriced supply assets” in Canada. Tilray’s chief executive Brendan Kennedy said while Canada will continue to be an important market for the Nanaimo, B.C.-based company, the opportunities south of the border and across the pond are “orders... Read More

Budget 2019: Five things to watch for in the Liberals’ final fiscal blueprint

Budget 2019: Five things to watch for in the Liberals’ final fiscal blueprint
OTTAWA — Finance Minister Bill Morneau will release the Trudeau government’s final budget of its mandate Tuesday, just seven months before the next federal election. Here are some things to watch for: A boost to skills training The government says it wants to help workers adapt to the rapidly changing needs of the modern workforce. The budget is expected to announce measures to help Canadians cover... Read More

GE sells biopharma unit for $21 billion

GE sells biopharma unit for $21 billion
BOSTON — General Electric is selling its biopharma business to Danaher Corp. for $21.4 billion as it continues to sell off chunks of a once sprawling conglomerate. The biopharma unit, part of GE Life Sciences, generated revenue of about $3 billion last year. Danaher said after tax benefits, the deal will have a price tag that is closer a $20... Read More

Competition Bureau approves Metro’s transfer of 10 pharmacy interests in Quebec

Competition Bureau approves Metro’s transfer of 10 pharmacy interests in Quebec
OTTAWA — The Competition Bureau says it’s approved the transfer of Metro Inc.’s interests in 10 retail pharmacies in Quebec to two other companies. The bureau and Metro reached an agreement in 2018 to address competition concerns around the grocer’s $4.5-billion acquisition of The Jean Coutu Group Inc. A bureau review found the deal would likely lead to substantially higher... Read More

Tilray, U.S. brand group partner on cannabis-infused consumer products

Tilray, U.S. brand group partner on cannabis-infused consumer products
Licensed producer Tilray Inc. has teamed up with the U.S. company behind brands such as Juicy Couture, Aeropostale and Nine West to develop and sell co-branded consumer cannabis products globally, with items expected to hit U.S. and Canadian shelves within the next year. The Nanaimo, B.C.-based company announced Tuesday the long-term revenue sharing agreement with Authentic Brands Group, to whom Tilray will initially pay... Read More

Aphria chief executive and co-founder stepping aside from executive roles

Aphria chief executive and co-founder stepping aside from executive roles
Aphria Inc.’s chief executive will step down from the top job after the “toll on health, family and personal priorities,” but Vic Neufeld says the decision is unrelated to recent short-seller allegations that have hit the cannabis producer’s stock. The Leamington, Ont.-company also announced Friday that co-founder Cole Cacciavillani will also leave his current role in the coming months, but both he and Neufeld... Read More

Shoppers Drug Mart lights up medical cannabis e-commerce sales portal

Shoppers Drug Mart lights up medical cannabis e-commerce sales portal
BRAMPTON, Ont. — Shoppers Drug Mart’s e-commerce platform for medical cannabis launched Tuesday, a month after Health Canada licenced the company to sell the product online. Product information is available nationally, but Shoppers Drug Mart can initially only sell medical cannabis to patients in Ontario. Patients will be required to take a medical document similar to a prescription to an Ontario pharmacy to begin the process. Specialized... Read More

Former CanniMed CEO launches new pot company, but won’t be growing weed

Former CanniMed CEO launches new pot company, but won’t be growing weed
TORONTO — The former chief executive of licensed producer CanniMed Therapeutics Inc. has a budding new cannabis business largely made up of his former employees — but his newest venture won’t involve growing pot. Brent Zettl says his biopharmaceutical company Zyus Life Sciences Inc. will instead buy cannabis from licensed producers and focus on extraction and development of plant-based medicinal products for the global medical market. He says he started... Read More