Business
Little Green Pharma To Accelerate Growth Strategy With Acquisition of World-Class Production and Manufacturing Facility in Denmark
Little Green Pharma To Accelerate Growth Strategy With Acquisition of World-Class Product...
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[{"type":"text","content":"\n \n \n \n Little Green Pharma To Accelerate Growth Strategy With Acquisition of World-Class Production and Manufacturing Facility in Denmark\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n PERTH, Australia\n \n ,\n \n June 22, 2021\n \n /CNW/ --\n \n Little Green Pharma Ltd\n \n (ASX: LGP) has acquired a world-class, fully-operational, GMP medicinal cannabis cultivation and manufacturing facility in\n \n Denmark\n \n from\n \n Canopy Growth Corporation\n \n (TSX:WEED, NASDAQ: CGC).\n \n \n The facility, located in\n \n Northern Odense\n \n , has the capacity to produce in excess of 12 tonnes per annum of finished flower and provides LGP with much-needed product supply from its current inventory of ~1 tonne of medicinal cannabis flower products.\n \n \n Previously operating as a production site, LGP hopes to broaden the facility's service offering by building out a sales and marketing division and empowering the facility to engage with EU and global markets. LGP expects that its established brand and distribution channels and EU cannabis markets know-how will help generate additional valuable sales opportunities for the facility. The LGP Group will also share best-practice cultivation, manufacturing and pharmaceutical insights and expertise between its global assets.\n \n \n The LGP Group plans to immediately focus on delivering products in\n \n Australia\n \n and\n \n Germany\n \n as it grows its portfolio of export destinations over time. The facility is also well advanced along the medicine registration process for its first medicinal cannabis products for the Danish market, with current plans to release in early 2022.\n \n \n LGP's Managing Director Ms.\n \n Fleta Solomon\n \n said \"The opportunity to acquire this facility came up and it was clear at the outset this was a compelling strategic move for LGP.\n \n \n \"We have a moment in the market now to capitalise on the brand equity LGP has built with our existing patients in\n \n Germany\n \n , the UK, and\n \n France\n \n as well as\n \n Australia\n \n , and the immed...