Canopy Growth to supply four Canadian flower strains to UK medical market
GROW Group will distribute the Kincardine-grown flower in Britain under Canopy's Spectrum Therapeutics medical brand.
Adrian Kessler· Sep 22, 2026
Canopy Growth Corporation (TSE: WEED) (NASDAQ: CGC) said on Tuesday that it will supply four Canadian-grown medical cannabis flower strains to Britain through GROW Group U.K. Ltd., its first cannabis products for the UK market. The UK adds a market to an international cannabis business that brought in C$9.6 million in the quarter ended June 30, about 12 per cent of the Smiths Falls company's net revenue for the period.
Shares closed at C$1.30 in Toronto on Monday and at US$0.92 on the Nasdaq, and the announcement went out before either market opened on Tuesday. The stock trades near the bottom of a 52-week range of C$1.18 to C$3.28, which leaves Canopy with a market value of about C$550 million.
GROW Group will commercialize the four strains under Spectrum Therapeutics, Canopy's global medical brand. The release put no volumes, no financial terms and no start date on the arrangement, and GROW, which Canopy describes as a British manufacturer and distributor of prescribed cannabis-based medicines, is privately held.
The flower will come from Kincardine, Ontario, where the German regulator Regierungspräsidium Tübingen renewed the plant's European Union Good Manufacturing Practice certification on Aug. 14. Kincardine anchors a chain that carries Canadian flower to Canopy's second EU GMP site at Sankt Leon-Rot in Germany.
"Expanding availability of our products into the UK is another step in growing our European medical cannabis business and broadening the international reach of our Canadian-grown flower," chief executive Luc Mongeau said in the release.
Poland Carried The Last Quarter's International Growth
International cannabis revenue rose 10 per cent from a year earlier in the quarter ended June 30, growth Canopy attributed to Europe and to Poland in particular. Canada medical cannabis is still the larger business at C$25.8 million for the quarter, up 22 per cent after the purchase of MTL Cannabis Corp. and a rise in the number of insured customers.
The adjusted loss before interest, taxes, depreciation and amortization narrowed by 59 per cent to C$3.2 million over the same three months. Free cash outflow widened to C$25.7 million from C$11.6 million a year earlier, a swing the company tied to the timing of working capital items.
Read more: Canopy Growth inks deal to takeover MTL Cannabis
Aurora And Tilray Bought Their Way Into Britain
Two competitors reached UK patients by buying the channel rather than renting it. Aurora Cannabis Inc. (TSE: ACB) (NASDAQ: ACB) acquired Internode Pharma Limited and HAP Pharma Limited on Aug. 19, an importer and a licensed pharmacy that together give it an import facility and a virtual pharmacy in Birmingham. Tilray Brands, Inc. (NASDAQ: TLRY) (TSE: TLRY) began selling its own branded flower on Aug. 17 through the Lyphe Clinic and Lyphe Dispensary it picked up with Lyphe Group in April. Canopy's arrangement leaves the import licence, the pharmacy and the patient relationship with GROW.
Most of the market the three are selling into sits outside the public health system. The National Health Service says very few people in England are likely to get a cannabis prescription from it, and names rare severe epilepsies, nausea from chemotherapy and muscle stiffness from multiple sclerosis as the conditions it will consider.
Read more: Aurora buys UK firms as it urges shareholders to reject Curaleaf takeover
Canopy shareholders vote at the company's annual general and special meeting on Friday at 1 p.m. ET, with proxies due at the same hour on Wednesday.
