Licensed recreational cannabis is about to celebrate its first birthday in Canada, but producers such as Canopy Growth (TSX: WEED; NYSE: CGC) are also still focusing on growing networks for medical patients.
In an effort to bring additional education initiatives on prescribing cannabis to Quebec-based doctors, the company just launched the free Prescriber Training Program in Montreal.
That program is now up and running through a partnership between the Santé Cannabis clinic / research centre and Canopy’s medical wing Spectrum Therapeutics, which is providing an educational grant to fund the initiative.
Citing a 500% increase in requests for training and patient referral information since 2018, the Santé Cannabis clinic will provide evidence-based courses on developing dosage treatment plans through self-guided modules and direct phone support to physicians.
Canopy’s Chief Medical Officer Dr. Mark Ware commented on the newly-announced partnership:
Aside from receiving licensing for a new extraction facility in Saskatoon last month and entering an agreement to acquire Beckley Canopy Therapeutics, Canopy Growth has had a fairly low key summer following disappointing quarterly revenue numbers.
Canopy is currently preparing for the launch of licensed vaporizer and edible products as Health Canada hands down new regulations covering those product types on the anniversary of the Cannabis Act going into effect.
In addition to Canadian operations, the company recently extended a distribution deal for U.S. vaporizer products through Greenlane Holdings Inc (NASDAQ: GNLN). In the wake of frequent negative press about suspected health issues from unlicensed vape products, new regulations and bans are expected to arrive in the U.S. shortly on non-tobacco flavoured vape pods and oils.
Canopy’s stock is currently trading at $27.99 a share as of Monday afternoon. While significantly down from its $52.03 high in April, Canopy Growth is one of the very few licensed cannabis producers commanding a higher stock price today than it did a month ago.