https://www.streetinsider.com/dr/news.php?id=15442221
Canopy Growth Corporation (TSX: WEED) (NYSE: CGC) is pleased to announce that it has acquired German-based, Bionorica SE-founded C3 Cannabinoid Compound Company ("C3") in a transformative deal that will see established single cannabinoid medicines brought together with the world's leading full-spectrum medical cannabis offering.
The all cash-acquisition for €225.9 million (CDN $342.9 million) furthers Canopy Growth's expansion into European markets with prescription medicines and gives the Company immediate access to a wealth of knowledge and intellectual property that C3 has developed in its nearly 20 years of research and development into synthetic and natural cannabis medical products.
C3's primary medicinal offering is dronabinol, a pure chemical compound with standardized concentrations of tetrahydrocannabinol (THC), one of the active ingredients found in cannabis plants that is responsible for various pharmacological effects.