Canopy Growth Corp.. the world’s largest marijuana company, is setting itself up in Britain after the country changed its drug laws. Britain now allows marijuana to be prescribed for medical use.
The company’s Chief Medical Officer, Mark Ware, said a new UK subsidiary, Spectrum Biomedical, would begin importing and distributing cannabis to pharmacies at the request of physicians in the first half of 2019. Canopy contributed about one-third of the funds for the project.
“We take cannabis very seriously indeed as a medicine,” he had said.
It was in November that the Canadian marijuana producer, as well as a consortium of investors said they’re putting 7.4 million pounds into testing medical cannabis for treatment of pain and opioid dependence.
Beckley Canopy Therapeutics Ltd., a U.K. firm partly owned by Ontario-based Canopy, will conduct the tests.
“All eyes are focused on the U.K. right now to see this program move forward,” said Ware in a phone interview. “The discussion has gone from zero to 100 in the space of a few months.”