Time running out for firms to grow pot outdoors as they await licenses

Time running out for firms to grow pot outdoors as they await licenses
TORONTO — As warmer weather makes its way across the country, many licensed cannabis producers are still waiting for the green light from Ottawa to start an outdoor crop — and the clock is ticking. Health Canada says it has granted one license that includes outdoor cultivation — which many companies are banking is cheaper than growing pot in a... Read More

Supreme Cannabis Company acquires Blissco in all-stock deal valued at $48M

Supreme Cannabis Company acquires Blissco in all-stock deal valued at $48M
TORONTO — The Supreme Cannabis Company Inc. has signed a deal to acquire Blissco Cannabis Corp. in an all-stock deal it valued at $48 million. Under the agreement, each Blissco Share will be exchanged for 0.24 of a common share of Supreme Cannabis. Based in Langley, B.C., Blissco operates a 18,000-square-foot production facility and has been producing cannabis oils since... Read More

Updated fisheries law could stem loss of stocks, biodiversity: supporters

Updated fisheries law could stem loss of stocks, biodiversity: supporters
Significant changes could be coming to the way fisheries are managed in Canada, giving hope for the rebound of some species and the protection of others, says an ocean conservation group. Josh Laughren, executive director of Oceana Canada, said proposed amendments to the Fisheries Act would prompt the government to rebuild stocks that fall below sustainable levels. And while the changes still... Read More

Health Canada changes cannabis licensing process in bid to cut wait times

Health Canada changes cannabis licensing process in bid to cut wait times
OTTAWA — Health Canada says it is changing its process for issuing cannabis licenses in a bid to reduce wait times and better use the agency’s resources. The Ottawa-based agency says new applicants for licences to cultivate, process or sell cannabis must now have a fully built site that meets the regulations when they submit their application. Prior to this, cannabis license applicants could submit an application with... Read More

Bausch Health reports Q1 loss, raises full-year guidance as stock price leaps

Bausch Health reports Q1 loss, raises full-year guidance as stock price leaps
LAVAL, Que. — Bausch Health Companies Inc. raised its guidance after higher sales at its biggest subsidiary mitigated the blow of a US$52-million loss in its first quarter, boosting its share price. The stock closed up $2.88, or 9.16 per cent, at $34.31. Bausch & Lomb, a segment that generates more than half of the drug company’s revenue, saw revenue rise eight... Read More

Unemployment hits 49-year low as US employers step up hiring

Unemployment hits 49-year low as US employers step up hiring
WASHINGTON — U.S. employers added a robust 263,000 jobs in April, suggesting that businesses have shrugged off earlier concerns that the economy might slow this year and now anticipate strong customer demand. The unemployment rate fell to a five-decade low of 3.6% from 3.8%, though that drop reflected a rise in the number of people who stopped looking for work.... Read More

Pharmaceutical exec guilty of bribing doctors to push opioid

Pharmaceutical exec guilty of bribing doctors to push opioid
BOSTON — A pharmaceutical company founder accused of paying doctors millions in bribes to prescribe a highly addictive fentanyl spray was convicted Thursday in a case that exposed such marketing tactics as using a stripper-turned-sales-rep to give a physician a lap dance. John Kapoor, the 76-year-old former chairman of Insys Therapeutics, was found guilty of racketeering conspiracy after 15 days... Read More

Great-West Lifeco reports Q1 profit down compared with a year ago

Great-West Lifeco reports Q1 profit down compared with a year ago
WINNIPEG — Great-West Lifeco Inc. reported its first-quarter profit fell compared with a year ago, hurt by higher income taxes, lower net fee income in Canada and the U.S., and unfavourable claims experience in Europe. The insurance company says it earned $657 million or 67 cents per common share for the first quarter of 2019. That compared with a profit... Read More

Cost of celery spikes amid juice benefit claims, poor weather conditions

Cost of celery spikes amid juice benefit claims, poor weather conditions
The price of celery has roughly doubled recently in part due to heavy rains and a fad diet promoting a one-ingredient celery juice. Social media users are complaining of paying upwards of $5 for celery stalks, while a major Canadian grocer is advertising stalks for $5.99 online. Statistic Canada’s most recent data shows a kilogram of celery cost on average... Read More

Molson Coors Q1 results weaker but sees no impact from cannabis legalization

Molson Coors Q1 results weaker but sees no impact from cannabis legalization
MONTREAL — Molson Coors Brewing Co.’s first-quarter profit fell partly due to lower volumes, but executives say the drop doesn’t correlate to Canada’s legalization of cannabis last October. “I think at this point in time, it’s really fair to say we see absolutely no correlation between the sales of cannabis and the sales of beer across the industry or for... Read More