fbpx
QQQ
-2.49
316.84
-0.79%
DIA
-2.00
312.11
-0.64%
SPY
-2.91
381.49
-0.77%
TLT
+ 0.60
150.62
+ 0.4%
GLD
-2.07
175.30
-1.19%

Canopy Growth Sues GW Pharma, Alleges Unauthorized Use Of Intellectual Property

December 28, 2020 12:50 pm
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
Canopy Growth Sues GW Pharma, Alleges Unauthorized Use Of Intellectual Property

Canadian cannabis giant Canopy Growth Corp (NYSE:CGC) filed an federal lawsuit last week against Britain’s GW Pharma (NASDAQ:GWPH).

In the lawsuit filed in the U.S. District Court for the Western District of Texas, Canopy accuses GW Pharma of unauthorized usage of Canopy’s intellectual property related to a CBD extraction method.

Canopy Growth said it has obtained the intellectual property with its acquisition of Germany’s C3 Cannabinoid Compound Co. in 2019 for more than $250 million, reports Marijuana Business Daily. The same day the lawsuit was filed, Canopy was issued the U.S. patent.

According to Canopy, GW Pharma has been relying on the extraction method in question for the production of its flagship epilepsy drugEpidolex.

Canopy said that “GW has been monitoring the ’632 Patent family for over fourteen years.”

The complaint has only one goal, which is to end GW’s “unauthorized use of Canopy’s intellectual property” — not to limit “patient access to Epidiolex,” Canopy said. 

Epidolex is the first FDA-authorized CBD medicine for treating children with severe forms of epilepsy. The medicine was first approved for treatments of seizures connected to Lennox-Gastaut syndrome and Dravet syndrome.

In July, the FDA also approved Epidolex for managing seizures related to tuberous sclerosis complex.

“As a policy, we do not comment on any pending litigation except to say that based on our preliminary review of the complaint, we are confident in our position and will vigorously defend against this lawsuit,” GW Pharma said in a statement emailed to Marijuana Business Daily.

Photo courtesy of GW Pharma.


Related Articles

The Week In Cannabis: Stocks Spike By Double Digits On Earnings, Strong Sales, Financings

Cannabis stocks widely outperformed the markets after a slew of financing deals and strong earnings reports. read more

HempFusion Wellness Debuts In Europe Via Deal With Ireland CPG Distributor

Health and wellness CBD company HempFusion Wellness Inc. (TSX: CBD.U) is expanding to Europe through a deal with an undisclosed consumer goods distributor in Ireland. read more

Vext Science Upsizes Bought Deal Public Offering To Raise $18M

Vertically integrated CBD company Vext Science Inc. (CSE: VEXT) (OTCQX: VEXTF) is poised to raise $18 million through a bought deal offering of its units. read more

From Peace Corps To Peace Pipes: Steve Sakala Shows CBD Companies How To Be Eco-Friendly

There's zero excuse for consumer packaged goods companies to not be plastic negative, says Steve Sakala. Take his work in the cannabis industry. Like most industries, the world of weed has a major sustainability problem. It creates at least 150 million tons of waste annually, mainly due to single-use plastic packaging. read more

New Cannabis Products: Canned Cocktails, Post-Workout CBD Seltzers, Flower Products, And Oral Strips

As the cannabis market expands, it's hard to keep track of the many products that launch every week. Benzinga put together a short list of some of the most interesting new cannabis products. read more