Canopy Growth buys German medical cannabis company for $343 million

Canopy Growth buys German medical cannabis company for $343 million
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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.

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.

Companies in this story: (TSX:WEED)

The Canadian Press

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