Canadian Medicinal Cannabis company Canopy Growth has announced an agreement with the Luxembourg government, to supply medical Cannabis. Canopy’s therapeutics division, Spectrum Therapeutics, based in Denmark, will supply Cannabis products until 31st December 2021.
Professional medical practitioners are permitted to prescribe Cannabis to patients suffering from illnesses such as cancer and Multiple Sclerosis. The country also effectively decriminalised Cannabis for those patients in 2018.
Since the decriminalisation of the drug, Luxmbourg has announced plans to legalise both medical and recreational Cannabis by next year. The coalition government confirmed the plans earlier this year, after publishing a 250 page document outlining legalisation in 2018. The move will make Luxembourg the first European country to legalise the drug for recreational adult use.
Canopy Growth’s Managing Director, Paul Steckler, said:
“Luxembourg is a country with big ambitions when it comes to medical cannabis, and we are excited to have earned the opportunity to supply this new market.”
Following the agreement, Canopy Growth now has operations in 11 countries, besides Canada and the US. The company also has agreements in several other countries.
Earlier this month, Canopy Growth confirmed that it had been granted an import license from the UK Home Office. The license will allow the company to import Cannabis products from its facilities in Germany and Denmark, and store them in its storage facility in Buckinghamshire, UK.
Canopy Growth was founded in 2014, and became the first North American Cannabis company to be publicly traded. The Canopy Growth Luxembourg agreement will help to expand the company’s global operations further, with only fellow Canadian company Aurora Cannabis currently operating in more countries.
Canopy Growth hopes to continue its global expansion, with the help of its subsidiaries, to achieve its ambition to become “the number one cannabis company in the world – from product and process innovation to market execution and everything in between”.