Organigram And This Canadian Cannabis Brand Expand In Europe And Beyond

Zinger Key Points
  • Organigram Holdings announced its second international medical marijuana customer in the UK, Avida Medical.
  • Cannabis brand Ghost Drops announced an exclusive partnership with SOMAÍ Group to roll out its products across EU, the UK and Australia.

Germany's recent legislative push in the cannabis sector marks a significant turning point not only for the country but also for the European cannabis landscape.

Europe has become more open-minded about medical and recreational marijuana over the recent years, which is why growing number of the North American cannabis operators venturing into the new market comes as no surprise.

The burgeoning European market will be one of many hot topics at Benzinga’s fall cannabis event. Hear directly for top executives, investors, policymakers and advocates at the 19th Benzinga Cannabis Capital Conference, coming to Chicago this Oct. 8-9. Get your tickets now before prices surge by following this link.

Organigram Expands Cannabis Supply Network In UK

On Tuesday, Toronto-based cannabis giant Organigram Holdings Inc. OGI OGI announced its second international medical cannabis customer in the UK, Avida Medical, a full-service medical cannabis and specials medicines manufacturing business.

Subject to the terms of the deal, the company expects to supply 1,700 kilograms of high-quality, indoor-grown dried cannabis flower to Avida Medical in the UK over three years.

Tim Emberg, chief commercial officer of Organigram praised the move and the "immense potential of the UK market."

“We are pleased to partner with Avida Medical in the UK, marking yet another exciting milestone for Organigram’s expansion into the global market," Emberg said. "Our decision to further expand into this market stems from our commitment to ensuring patients have access to reliable, high-quality medical cannabis offerings."

See also: Weed Giants Tilray And Curaleaf Ramp Up Presence In Europe, Here’s Why

Ghost Drops, The Canadian Cannabis Brand Expands Globally

Meanwhile, Canadian cannabis brand Ghost Drops announced an exclusive partnership with SOMAÍ Group, an international cannabinoid biopharma company with distribution channels.

Under the supply and distribution deal, Ghost Drops-branded products will initially be rolled out across Europe, the United Kingdom and Australia.

The agreement positions the company to capture market share in cannabis markets across Europe and internationally.

“Together, SOMAÍ Group and Ghost Drops will introduce European, U.K., and Australian markets to top-tier Canadian cannabis products, bringing quality relief to patients internationally,” said Tom Flow, managing director of SOMAÍ Group’s subsidiary RPK Biopharma.

Now read: Cannabis On The Rise In Europe: Why Germany’s Legalization Is A Game Changer For The Ecosystem

OGI Price Action

Organigram's shares traded 2.75% higher at $1.87 per share during the pre-market session on Tuesday morning.

Market News and Data brought to you by Benzinga APIs
Posted In: CannabisNewsAvida Medicalcannabis supplyEurope cannabisGhost Dropsglobal cannabis expansionSOMAÍ GroupTim Emberg
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

The Top Cannabis Event In New Jersey

Join the Benzinga Cannabis Market Spotlight in New Jersey on June 17th! Grow your business, raise money and capitalize on the booming NJ recreational market. Don’t miss this must-attend event in New Brunswick. Secure your tickets now. Very few spots are left. Use the code "JAVIER20" for 20% off!