TORONTO, Jan. 25, 2015 /CNW/ - Bedrocan Canada Inc. ("Bedrocan Canada", "Company"), wholly‑owned subsidiary of Canopy Growth Corporation ("Canopy Growth") (TSXV: CGC) has made medical cannabis more affordable for all Canadian patients with a new price structure called True Compassionate Pricing. Under True Compassionate Pricing, all six cannabis varieties produced by Bedrocan Canada will be priced at $5 per gram, making it the most affordable product line in Canada.
Many Canadians who medicate with cannabis are doing so because traditional pharmaceutical drugs have not been as effective at treating their symptoms or have undesirable side effects. The decision to consume medical cannabis is made more complex due to the cost of the medicine.
"With limited insurance coverage and taxation, the affordability of medical cannabis can be a significant barrier to chronically ill patients obtaining the benefits of a medical marijuana program," said Jonathan Zaid, Member of Bedrocan Canada's Patient Advisory Board and Executive Director of Canadians for Fair Access to Medical Marijuana. "With its True Compassionate Pricing, Bedrocan is helping patients by making their medicine more affordable."
Bedrocan Canada currently produces six standardized whole-flower cannabis varieties that provide consistency and reliability to people managing a variety of medical conditions and symptoms. All strains are covered by the True Compassion Pricing promise and are guaranteed to be in stock.
"Bedrocan Canada's production methods have been refined over two decades to maximize yield and eliminate genetic variance from harvest to harvest. Because of that we're able to produce standardized varieties efficiently," said Marc Wayne, President of Bedrocan Canada. "Now that our Toronto facility is operating at full capacity, we are in a position to offer lower prices to our clients, the vast majority of whom are paying out of pocket for their medication."
Bedrocan Canada continues its active dialogue with the insurance industry to enhance insurance eligibility for medical cannabis and medical cannabis devices. The Company is also encouraging the patient community to write to the federal government in an effort to change the current applicability of sales tax to medical cannabis, a policy that is inconsistent with the treatment of other healthcare practitioner authorized medications. Patients can visit www.bedrocan.ca to download a letter to The Honourable Bill Morneau, Minister of Finance.
Working collaboratively, Bedrocan Canada strives to make medical cannabis more affordable for all Canadian patients.
About Bedrocan Canada
Bedrocan Canada is focused on medicinal cannabis production and research, including, the EQUAL Study, which is currently enrolling patients and evaluating how cannabis is affecting their quality of life of Canadian patients. Bedrocan's standardized strains have been used by thousands of patients in seven countries around the world. www.bedrocan.ca
About Canopy Growth Corporation
Canopy Growth is Canada's first publicly traded medical marijuana company and the first geographically diversified producer with multiple licenses under the Marihuana for Medical Purposes Regulations. Through its wholly owned subsidiaries, Tweed, Tweed Farms, and Bedrocan, the Company operates three state-of-the-art production facilities in Ontario and distributes marijuana across the country to Canadian patients managing a host of medical conditions. The Company is dedicated to educating healthcare practitioners, providing consistent access to high quality medication, conducting robust clinical research, and furthering the public's understanding of how marijuana is used for medical purposes. www.canopygrowth.com
Forward Looking Statement:
This news release contains forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company or any of its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.
Although Canopy Growth Corp. has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Readers should not place undue reliance on forward-looking statements. The factors identified above are not intended to represent a complete list of the factors that could affect the Company or any of its subsidiaries. The forward-looking statements included in this news release are made as of the date of this news release and Canopy Growth Corp. does not undertake an obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities legislation.
SOURCE Canopy Growth Corporation
For further information: Cam Battley, VP Communications and Corporate Development, Bedrocan Canada, [email protected], 905-864-5525