Marijuana Stock Canopy Growth to Expand in the U.K., Luxembourg

Much of the global cannabis industry's growth will occur in markets outside Canada and the U.S. Canopy Growth (NYSE: CGC) knows this, and the Canadian marijuana producer is rapidly expanding its international operations.

Canopy Growth announced on Monday that its Spectrum Therapeutics division has obtained licenses from the Medicines and Healthcare Products Regulatory Agency (MHRA) and Home Office to store and distribute cannabis-based medicinal products in the United Kingdom. Canopy says that its new facility in the U.K. will allow it to provide faster delivery to customers with prescriptions for medicinal marijuana.

"We are delighted to have been granted licenses from both the MHRA and Home Office in order to provide a solution to one of the most significant barriers for access in the U.K.," Spectrum managing director Cosmo Feilding Mellen said in a press release. "We are actively working with regulators to find the best way to ensure we can deliver continuous treatment to patients within the framework that exists."

Source Fool.com