Spectrum Therapeutics, a wholly-owned subsidiary of Canopy Growth has been granted a license by the Home Office. The license will allow the company to import, in bulk, Cannabis for medical purposes.
The company will become the first Canadian Cannabis company to be granted an import license by the UK Home Office. Canopy Growth’s therapeutics division. Spectrum Therapeutics, reportedly told The Financial Times that they had been granted the license to supply medical Cannabis.
The Cannabis stock will be imported from the company’s distribution and storage facilities in Germany and Denmark. It will then be transported to Canopy Growth’s Buckinghamshire distribution warehouse – which is thought to hold enough stock to supply 5,000 patients per month.
Medical Cannabis was officially legalised in the UK in November 2018 – marked by the rescheduling of the plant. However, few prescriptions have been carried out, due to the strict regulations in place in the country.
Currently, patients who are prescribed Cannabis-based medications can expect a waiting time of up to three months. This is because licenses for Cannabis import are currently permitted on a prescription-by-prescription basis.
Canopy Growth hopes that this waiting time will be significantly reduced, as more product becomes available in the country. It is possible that, in the future, prescriptions will be sent out on the same day – as is the company’s practise in Germany.
Canadian-based Canopy Growth is the largest publicly-trading Cannabis company in the world. Since the company’s formation in 2013, it has acquired a number of businesses and other companies – including London-based beauty brand, This Works.