HPE to Acquire Supercomputing Leader Cray
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Combined Company Will Drive Next Generation of High Performance
Computing
-
Accelerates HPE’s strategy to tackle customers’ most data-intensive
challenges by combining deep supercomputing talent and cutting-edge
technologies -
Establishes the most comprehensive end-to-end portfolio across
compute, storage, interconnect, software and services in the fast
growing High Performance Computing and Artificial Intelligence segments -
Creates opportunity for significant economic upside through enhanced
growth and profitability
SAN JOSE, Calif. & SEATTLE–(BUSINESS WIRE)–Hewlett Packard Enterprise (NYSE:HPE) and Cray Inc. (Nasdaq: CRAY), a
global supercomputer leader, today announced that the companies have
entered into a definitive agreement under which HPE will acquire Cray
for $35.00 per share in cash, in a transaction valued at approximately
$1.3 billion, net of cash.
“Answers to some of society’s most pressing challenges are buried in
massive amounts of data,” said Antonio Neri, President and CEO, HPE.
“Only by processing and analyzing this data will we be able to unlock
the answers to critical challenges across medicine, climate change,
space and more. Cray is a global technology leader in supercomputing and
shares our deep commitment to innovation. By combining our world-class
teams and technology, we will have the opportunity to drive the next
generation of high performance computing and play an important part in
advancing the way people live and work.”
The Explosion of Data is Driving Strong HPC Growth
The explosion of data from artificial intelligence, machine learning,
and big data analytics and evolving customer needs for data-intensive
workloads are driving a significant expansion in HPC.
Over the next three years the HPC segment of the market and associated
storage and services is expected to grow from approximately $28 billion
in 2018 to approximately $35 billion in 2021, a compound annual growth
rate1 of approximately 9 percent. Exascale is a growing
segment of overall HPC opportunities and more than $4 billion of
Exascale opportunities are expected to be awarded over the next five
years.
Addressing complex challenges and advancing critical academic research,
including predicting future weather patterns, delivering breakthrough
medical discoveries, and preventing cyber-attacks, requires significant
computational capabilities, up to and through Exascale level
architecture. Exascale capable systems enable solutions to these
problems with much greater precision and insight.
“This is an amazing opportunity to bring together Cray’s leading-edge
technology and HPE’s wide reach and deep product portfolio, providing
customers of all sizes with integrated solutions and unique
supercomputing technology to address the full spectrum of their
data-intensive needs,” said Peter Ungaro, President and CEO of Cray.
“HPE and Cray share a commitment to customer-centric innovation and a
vision to create the global leader for the future of high performance
computing and AI. On behalf of the Cray Board of Directors, we are
pleased to have reached an agreement that we believe maximizes value and
are excited for the opportunities that this unique combination will
create for both our employees and our customers.”
Cray is a Leading Innovator in Supercomputer Solutions
Cray is the premier provider of high-end supercomputing solutions that
address customers’ most challenging, data-intensive workloads for making
critical decisions. Cray has a leadership position in the top 100
supercomputer installations around the globe. With a history tying back
to Cray Research, which was founded in 1972, Cray is headquartered in
Seattle, Washington, with US-based manufacturing, and approximately
1,300 employees worldwide. The company delivered revenue of $456 million
in its most recent fiscal year, up 16 percent year over year.
Cray’s supercomputing systems, delivered through their current
generation XC and CS platforms, and next-generation Shasta series
platform, have the ability to handle massive data sets, converged
modeling, simulation, AI, and analytics workloads. In addition to
supercomputers, they offer high-performance storage, low-latency high
performance HPC interconnects, a full HPC system software stack and
programming environment, data analytics, and AI solutions – all
currently delivered through integrated systems.
Cray recently announced an Exascale supercomputer contract for over $600
million for the U.S. Department of Energy’s Oak Ridge National
Laboratory. The system, which is targeted to be the world’s fastest
system, will enable groundbreaking research and AI at unprecedented
scale, using Cray’s new Shasta system architecture and Slingshot
interconnect. The company was also part of an award with Intel for the
first U.S. Exascale contract from the U.S. Department of Energy’s
Argonne National Laboratory, with Cray’s portion of the contract valued
at over $100 million.
Cray Strengthens and Expands HPE’s High Performance Computing
Portfolio
High performance computing is a key component of HPE’s vision and growth
strategy and the company currently offers world-class HPC solutions,
including HPE Apollo and SGI, to customers worldwide. This portfolio
will be further strengthened by leveraging Cray’s foundational
technologies and adding complementary solutions. The combined company
will also reach a broader set of end markets, offering enterprise,
academic and government customers a broad range of solutions and deep
expertise to solve their most complex problems. Together, HPE and Cray
will have enhanced opportunities for growth and the integrated platform,
scale and resources to lead the Exascale era of high performance
computing.
The combination of HPE and Cray is expected to deliver significant
customer benefits including:
- Future HPC-as-a-Service and AI / ML analytics through HPE GreenLake
-
A comprehensive end-to-end portfolio of HPC infrastructure – compute,
high-performance storage, system interconnects, software and services
supplementing existing HPE capabilities to address the full spectrum
of customers’ data-intensive needs -
Differentiated next-generation technology addressing data intensive
workloads -
Increased innovation and technological leadership from leveraging
greater scale, combined talent and expanded technology capabilities - Enhanced supply chain capabilities leveraging US-based manufacturing
Significant Economic Upside Expected to be Realized from the
Combination
Bringing together HPE and Cray enables an enhanced financial profile for
the combined company that includes several revenue growth opportunities
and cost synergies.
The companies expect the combination to drive significant revenue growth
opportunities by:
-
Capitalizing on the growing HPC segment of the market and Exascale
opportunities -
Enhancing HPE’s customer base with a complementary footprint in
federal business and academia and the company’s ability to accelerate
commercial supercomputing adoption -
Introducing new offerings in AI / ML and HPC-as-a-service with HPE
GreenLake
We also expect to deliver significant cost synergies through
efficiencies and by leveraging proprietary Cray technology, like the
Slingshot interconnect, to lower costs and improve product performance.
Transaction Details
As a result of the enhanced financial profiles of the combined
companies, the deal is expected to be accretive to HPE non-GAAP
operating profit and earnings in the first full year following the close.
As part of the transaction, HPE expects to incur one-time integration
costs that will be absorbed within HPE’s FY20 free cash flow outlook of
$1.9B to $2.1B that remains unchanged.
The transaction is expected to close by the first quarter of HPE’s
fiscal year 2020, subject to regulatory approvals and other customary
closing conditions.
Investment Community Conference Call
HPE will conduct a live audio webcast of its conference call to discuss
HPE’s acquisition of Cray. The call is scheduled for Friday, May 17th,
at 8:30 a.m. ET / 5:30 a.m. PT, and the webcast will be available at www.hpe.com/investor/2019Q2HPETOACQUIRECRAY
HPE Q2 FY19 Earnings Announcement
As a reminder, Hewlett Packard Enterprise (NYSE: HPE) will conduct a
live audio webcast of its conference call to review its financial
results for the second quarter of fiscal 2019, which ended April 30,
2019.
The call is scheduled for Thursday, May 23, at 4:30 p.m. ET / 1:30 p.m.
PT, and the webcast will be available at www.hpe.com/investor/2019Q2Webcast.
About Hewlett Packard Enterprise
Hewlett Packard Enterprise is a global technology leader focused on
developing intelligent solutions that allow customers to capture,
analyze and act upon data seamlessly from edge to cloud. HPE enables
customers to accelerate business outcomes by driving new business
models, creating new customer and employee experiences, and increasing
operational efficiency today and into the future.
About Cray
Cray Inc. (Nasdaq:CRAY) combines computation and creativity so
visionaries can keep asking questions that challenge the limits of
possibility. Drawing on more than 45 years of experience, Cray develops
the world’s most advanced supercomputers, pushing the boundaries of
performance, efficiency and scalability. Cray continues to innovate
today at the convergence of data and discovery, offering a comprehensive
portfolio of supercomputers, high-performance storage, data analytics
and artificial intelligence solutions. Go to www.Cray.com
for more information.
Additional Information and Where to Find It
In connection with the proposed transaction, Cray will file relevant
materials with the SEC, including a preliminary and definitive proxy
statement. Promptly after filing the definitive proxy statement, Cray
will mail the definitive proxy statement and a proxy card to the
shareholders of Cray. CRAY SHAREHOLDERS ARE URGED TO READ THE DEFINITIVE
PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO)
CAREFULLY WHEN IT BECOMES AVAILABLE BEFORE MAKING ANY VOTING OR
INVESTMENT DECISION WITH RESPECT TO THE PROPOSED TRANSACTION BECAUSE IT
WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND
THE PARTIES TO THE PROPOSED TRANSACTION. Shareholders of Cray will be
able to obtain a free copy of these documents, when they become
available, at the website maintained by the SEC at www.sec.gov
or free of charge at www.cray.com.
Additionally, Cray will file other relevant materials in connection with
the proposed acquisition of Cray by HPE pursuant to the terms of an
Agreement and Plan of Merger by and among, HPE, Cray Merger Sub, Inc., a
wholly owned subsidiary of HPE, and Cray. Cray and its directors,
executive officers and other members of its management and employees,
under SEC rules, may be deemed to be participants in the solicitation of
proxies of Cray shareholders in connection with the proposed
transaction. Information concerning the interests of Cray’s participants
in the solicitation, which may, in some cases, be different than those
of Cray’s shareholders generally, are available in Cray’s proxy
statement for its 2019 annual meeting of shareholders, which was filed
with the SEC on April 18, 2019. To the extent holdings of securities by
Cray’s directors or executive officers have changed since the amounts
disclosed Cray’s respective proxy statement, such changes have been or
will be reflected on Statements of Change in Ownership on Form 4 filed
with the SEC. Additional information regarding these persons and their
interests in the proposed transaction will be set forth in the
definitive proxy statement relating to the proposed transaction when it
becomes available. These documents are available free of charge at the
SEC’s web site at www.sec.gov
or by going to Cray’s website at www.cray.com.
Forward-looking Statements
This document contains forward-looking statements within the meaning of
the safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. Such statements involve risks, uncertainties and
assumptions. If such risks or uncertainties materialize or such
assumptions prove incorrect, the results of HPE and its consolidated
subsidiaries or of Cray could differ materially from those expressed or
implied by such forward-looking statements and assumptions. All
statements other than statements of historical fact are statements that
could be deemed forward-looking statements, including, but not limited
to, any statements regarding the expected benefits and costs of the
transaction contemplated by this document; the expected timing of the
completion of the transaction; the ability of HPE, its subsidiaries and
Cray to complete the transaction considering the various conditions to
the transaction, some of which are outside the parties’ control,
including those conditions related to regulatory approvals; projections
of revenue, expenses, net earnings, operating profit, cash flows, or
other financial items; the expectation of the combined company having
the opportunity to drive the next generation of high performance
computing and play an important part in advancing the way people live
and work; the expected size of the HPC segment of the market and
associated storage and services in 2021; the opportunity to bring
together Cray and HPE to provide customers unique supercomputing
technology; the belief that the agreement maximizes Cray’s value for its
shareholders and the unique combination’s opportunities for both
employees and customers; the expected strengthening of HPE’s portfolio
by leveraging Cray’s solutions; the expectations relating to the
combined company’s reach to a broader set of end markets; the
expectations relating to the combined company’s enhanced opportunities
for growth and the integrated platform to lead the Exascale era of high
performance computing; the expectation that the combined company will
deliver significant customer benefits; the expectation that significant
economic upside will be realized from the combination; the expectation
that the combined company’s enhanced financial profile; the expectation
that the combined company will drive significant revenue growth
opportunities; statements regarding the delivery of significant cost
synergies to lower costs and improve product performance; the
expectation that the transaction will be accretive to HPE non-GAAP
operating profit and earnings in the first full fiscal year following
close; HPE’s expectation to incur one-time integration costs that will
be absorbed into HPE’s FY20 free cash flow outlook of $1.9B to $2.1B
that remains unchanged; the expected closing timing; any statements
concerning the expected development, performance, market share or
competitive performance relating to products or services; any statements
regarding current or future macroeconomic trends or events and the
impact of those trends and events on HPE or Cray and such companies’
financial performance; any statements of expectation or belief; and any
statements of assumptions underlying any of the foregoing. Risks,
uncertainties and assumptions include the possibility that expected
benefits may not materialize as expected; that the integration of the
acquisition post-closing may not occur as anticipated, and the combined
companies’ ability to achieve the growth prospects and synergies
expected from the transaction, as well as delays, challenges and
expenses associated with integrating the combined companies’ existing
businesses may incur; that the transaction may not be timely completed,
if at all; that, prior to the completion of the transaction, Cray’s
business may not perform as expected due to transaction-related
uncertainty or other factors; the effect of the announcement or pendency
of the transaction on Cray’s business relationships, operating results,
and business generally; that the parties are unable to successfully
implement integration strategies; the need to address the many
challenges facing Cray’s and HPE’s businesses; the competitive pressures
faced by the businesses; risks associated with executing strategy; the
impact of macroeconomic and geopolitical trends and events; the
development and transition of new products and services and the
enhancement of existing products and services to meet customer needs and
respond to emerging technological trends and other risks that are
described in the SEC reports of HPE and Cray, including but not limited
to the risks described in HPE’s Annual Report on Form 10-K for its
fiscal year ended October 31, 2018, and subsequent quarterly reports on
Form 10-Q, Cray’s Annual Report on Form 10-K for its fiscal year ended
December 31, 2018 and subsequent quarterly reports on Form 10-Q, and
that are otherwise described or updated from time to time in other
filings with the SEC. HPE and Cray assume no obligation and do not
intend to update these forward-looking statements.
1 Source: Market data as of October 5, 2018
Contacts
HPE
Editorial contact
[email protected]
Kate
Holderness, HPE
Investor Relations contact
[email protected]
Andrew
Simanek, HPE
Cray
Editorial contact
[email protected]
415/306-6199
Diana
Brodskiy, Bhava Communications for Cray
Investor Relations contact
[email protected]
206/701-2044
Paul
Hiemstra, Cray
Indivior
Indivior Provides Update on Aelis Farma’s Clinical Phase 2B Study Results with AEF0117 in Participants with Cannabis Use Disorder
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 (AS IT FORMS PART OF DOMESTIC LAW IN THE UK BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018).
- Primary and Secondary End Points of the Study were Not Met
- Indivior Does Not Currently Expect to Exercise AEF0117 Option
SLOUGH, United Kingdom and RICHMOND, Va., Sept. 4, 2024 /PRNewswire/ — Indivior PLC (Nasdaq/LSE: INDV) is today providing an update following Aelis Farma’s announcement of the results from its clinical Phase 2B trial with AEF01171, evaluating the efficacy and safety in treatment-seeking participants with moderate to severe Cannabis Use Disorder (CUD). The purpose of this trial was twofold: (1) to show that AEF0117 (0.1, 0.3, 1 mg once a day for 12 weeks) lowers cannabis use and (2) to determine the endpoints and optimal dosage of AEF0117 for use in future studies. In this phase 2B study, patients were treatment-seeking participants, 84% of whom had severe CUD.
The results of the study demonstrated that the primary endpoint, the proportion of participants who reduced their cannabis use to ≤1 day per week, as well as secondary endpoints measuring the proportion of participants reaching either complete abstinence or who used ≤2 day per week, were not met. Although these results are disappointing, they indicate that significant work remains to be done to understand subpopulations of patients with CUD, specifically those with severe CUD.
This clinical Phase 2B study is part of the strategic collaboration between Aelis Farma and Indivior, which includes an exclusive option for Indivior to license the global rights to AEF0117. Given the lack of separation from placebo on primary and secondary endpoints and before seeing further additional favorable clinical data, Indivior does not currently expect to exercise its option.
Important Cautionary Note Regarding Forward-Looking Statements
This news release contains certain statements that are forward-looking. Forward-looking statements include, among other things, express and implied statements regarding whether: we will be able to ultimately demonstrate the safety and efficacy of AEF0117, which is a prerequisite to filing any New Drug Application; we might ever exercise our option for AEF0117 and, if so, when; and other statements containing the words “believe,” “anticipate,” “plan,” “expect,” “intend,” “estimate,” “forecast,” “strategy,” “target,” “guidance,” “outlook,” “potential,” “project,” “priority,” “may,” “will,” “should,” “would,” “could,” “can,” “outlook,” “guidance,” the negatives thereof, and variations thereon and similar expressions. By their nature, forward-looking statements involve risks and uncertainties as they relate to events or circumstances that may or may not occur in the future.
Actual results may differ materially from those because they relate to future events. Various factors may cause differences between Indivior’s expectations and actual results, including, among others, the risks described in our most recent annual report on Form 20-F beginning on page 9 as filed with the U.S. SEC and in subsequent releases; legal and market restrictions that may limit how quickly we can repurchaser our shares; the substantial litigation and ongoing investigations to which we are or may become a party; our reliance on third parties to manufacture commercial supplies of most of our products, conduct our clinical trials and at times to collaborate on products in our pipeline; our ability to comply with legal and regulatory settlements, healthcare laws and regulations, requirements imposed by regulatory agencies and payment and reporting obligations under government pricing programs; risks related to the manufacture and distribution of our products, most of which contain controlled substances; market acceptance of our products as well as our ability to commercialize our products and compete with other market participants; competition; the uncertainties related to the development of new products, including through acquisitions, and the related regulatory approval process; our dependence on third-party payors for the reimbursement of our products and the increasing focus on pricing and competition in our industry; unintended side effects caused by the clinical study or commercial use of our products; our ability to successfully execute acquisitions, partnerships, joint ventures, dispositions or other strategic acquisitions; our ability to protect our intellectual property rights and the substantial cost of litigation or other proceedings related to intellectual property rights; the risks related to product liability claims or product recalls; the significant amount of laws and regulations that we are subject to, including due to the international nature of our business; macroeconomic trends and other global developments such as armed conflicts and pandemics; the terms of our debt instruments, changes in our credit ratings and our ability to service our indebtedness and other obligations as they come due; changes in applicable tax rate or tax rules, regulations or interpretations and our ability to realize our deferred tax assets; and volatility in our share price due to factors unrelated to our operating performance or that may result from the potential move of our primary listing to the U.S.
Forward-looking statements speak only as of the date that they are made and should be regarded solely as our current plans, estimates and beliefs. Except as required by law, we do not undertake and specifically decline any obligation to update, republish or revise forward-looking statements to reflect future events or circumstances or to reflect the occurrences of unanticipated events.
This release is being made by Kathryn Hudson, Company Secretary Indivior PLC.
About Indivior
Indivior is a global pharmaceutical company working to help change patients’ lives by developing medicines to treat substance use disorders (SUD), overdose and serious mental illnesses. Our vision is that all patients around the world will have access to evidence-based treatment for the chronic conditions and co-occurring disorders of SUD. Indivior is dedicated to transforming SUD from a global human crisis to a recognized and treated chronic disease.
Building on its global portfolio of OUD treatments, Indivior has a pipeline of product candidates designed to both expand on its heritage in this category and potentially address other chronic conditions and co-occurring disorders of SUD. Headquartered in the United States in Richmond, VA, Indivior employs over 1,000 individuals globally and its portfolio of products is available in over 30 countries worldwide. Visit www.indivior.com to learn more. Connect with Indivior on LinkedIn by visiting www.linkedin.com/company/indivior.
References:
- National Library of Medicine (U.S.) (2022, April). Effect of AEF0117 on treatment-seeking patients with cannabis use disorder (CUD) (SICA2). Identifier
NCT05322941 https://www.clinicaltrials.gov/study/NCT05322941
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HERZLIYA, Israel and CALGARY, Alberta, Aug. 29, 2024 /PRNewswire/ — Innocan Pharma Corporation (CSE: INNO) (FSE: IP4) (OTCQB: INNPF) (“Innocan” or the “Company”), a pioneer in the pharmaceutical and biotechnology industries, is pleased to announce that it has completed its previously announced non-brokered private placement offering of 5,025,725 units of the Company (the “Units”) at a price of C$0.22 per Unit for gross proceeds of C$1,105,659.50 (the “Offering”).
Each Unit is comprised of: (i) one (1) common share in the capital of the Company (each a “Common Share”); and (ii) one (1) common share purchase warrant (each a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Common Share at a price of C$0.32 for a period of four (4) years from the date of issuance.
Innocan intends to use the proceeds of the Offering for working capital and general corporate purposes.
The securities issued to Canadian subscribers in connection with the Offering are subject to a hold period of four months and one day from the date of issuance, in accordance with applicable Canadian securities laws.
Iris Bincovich, Chief Executive Officer of the Company, stated “we are very pleased with our successful offering. I would like to extend my sincere gratitude to our investors for their unwavering support. We see this as a strong vote of confidence by both existing and new investors which demonstrates investor support of our vision and strategic direction. These new funds will provide us with additional working capital to enable us to capitalize on new opportunities and allow us to advance strongly on our growth plans.”
The Company is also pleased to announce that it has granted an aggregate of 300,000 stock options (each an “Option“) to certain consultants of the Company pursuant to the Company’s stock option plan (the “Plan“). Each Option may be exercised for one (1) common share in the capital of the Company (each, a “Share“) at a price of $0.25 per Share. The Options expire on August 27, 2029.
All Options granted vest in accordance with the following vesting schedule: (i) 1/3rd of the Options vested immediately at grant; (ii) 1/3rd of the Options will vest on February 28, 2025; and (iii) 1/3rd will vest on August 27, 2025; all subject to the terms and conditions of the Plan.
About Innocan Pharma:
Innocan is a pharmaceutical tech company that operates under two main segments: Pharmaceuticals and Consumer Wellness. In the Pharmaceuticals segment, Innocan focuses on developing innovative drug delivery platform technologies comprises with cannabinoids science, to treat various conditions to improve patients’ quality of life. This segment involves two drug delivery technologies: (i) LPT CBD-loaded liposome platform facilitating exact dosing and the prolonged and controlled release of CBD into the blood stream. The LPT delivery platform research is in the preclinical trial phase for two indications: Epilepsy and Pain Management. In the Consumer Wellness segment, Innocan develops and markets a wide portfolio of innovative and high-performance self-care products to promote a healthier lifestyle. Under this segment Innocan has established a Joint Venture by the name of BI Sky Global Ltd. that focuses developing on advanced targeted online sales. https://innocanpharma.com/
Contact Information:
For Innocan Pharma Corporation:
Iris Bincovich, CEO
+1 5162104025
+972-54-3012842
+442037699377
[email protected]
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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View original content:https://www.prnewswire.co.uk/news-releases/innocan-pharma-announces-closing-of-private-placement-and-grant-of-stock-options-302234455.html
Cannabis
Europe Medical Cannabis Market Forecast 2024-2032: Tilray, Aurora Cannabis, and GW Pharmaceuticals Dominate the Market Landscape
Dublin, Aug. 29, 2024 (GLOBE NEWSWIRE) — The “Europe Medical Cannabis Oil Market Size, Industry Dynamics, Opportunity Analysis and Forecast 2024-2032.” report has been added to ResearchAndMarkets.com’s offering.
The Europe Medical Cannabis Oil market is poised for significant growth, projected to escalate from US$ 0.91 billion in 2023 to US$ 2.40 billion by 2032, advancing at a CAGR of 12.08%. In this comprehensive research report, the market is analyzed by:
- Derivatives;
- Source;
- Application;
- Route of Administration;
- End-user;
- Distribution Channel; and
- Country.
Market Highlights Identified in the Report
- Progressive legalization across Europe is creating a favorable regulatory environment, enhancing market expansion for medical cannabis oil products.
- Germany leads the market with a robust infrastructure and supportive regulations, while other countries like the UK, Italy, and Spain show significant growth potential based on evolving regulatory landscapes and market dynamics.
- Key players such as Tilray, Aurora Cannabis Inc., and GW Pharmaceuticals dominate the market, emphasizing research, strategic partnerships, and innovation to maintain competitive edge amidst evolving industry dynamics.
The medical cannabis oil market has experienced substantial growth as legalization and acceptance of cannabis-based treatments expand globally. Cannabis oil, derived from the cannabis plant through extraction methods, contains cannabinoids such as THC and CBD, known for their therapeutic properties. Increasing recognition of cannabis oil’s potential in alleviating symptoms of various medical conditions, including chronic pain, epilepsy, and anxiety disorders, has driven its adoption in medical settings.
Governments in several countries are progressively legalizing medical cannabis, creating a conducive regulatory environment for market expansion. Additionally, growing consumer awareness about alternative and natural therapies has fueled the demand for cannabis oil products. The market is characterized by diverse product offerings, including full-spectrum and CBD-isolate oils, catering to different therapeutic needs and preferences.
Despite regulatory challenges and stigma associated with cannabis, the medical cannabis oil market continues to evolve, driven by ongoing research, favorable legislative changes, and shifting attitudes toward cannabis-based therapies in healthcare.
Regional Insights
Germany is likely to maintain its leadership position in the European medical cannabis oil market due to its established infrastructure, supportive regulations, and strong healthcare system. Germany legalized medical cannabis in 2017, giving the market a head start compared to many other European countries. This established infrastructure and experience position Germany as a leader in the field. As awareness and acceptance of medical cannabis increase, the number of patients seeking treatment in Germany is steadily rising. This fuels market growth and incentivizes further investment in research and development.
Germany’s regulatory framework for medical cannabis is considered relatively patient-friendly compared to some other European countries. This facilitates access for patients with qualifying conditions. The UK legalized medical cannabis in 2018 and is experiencing an increase in patient access programs. This, coupled with ongoing research, could lead to significant market growth. Italy legalized medical cannabis in 2006 but has faced challenges with availability. As regulations become more streamlined and patient access expands, the Italian market holds significant growth potential. Spain has a well-established medical cannabis industry with a focus on domestic production. As regulations evolve and export opportunities increase, the Spanish market could see a boost.
Competitive Landscape
The Medical Cannabis Oil market is characterized by a vigorous competitive landscape, with prominent entities like Tilray, Aurora Cannabis Inc., GW Pharmaceuticals, Almiral, Bedrocan, and others at the forefront, collectively accounting for approximately 41 % of the overall market share. This competitive milieu is fueled by their intensive efforts in research and development as well as strategic partnerships and collaborations, underscoring their commitment to solidifying market presence and diversifying their offerings.
The primary competitive factors include pricing, product caliber, and technological innovation. As the Medical Cannabis Oil industry continues to expand, the competitive fervor among these key players is anticipated to intensify. The impetus for ongoing innovation and alignment with evolving customer preferences and stringent regulations is high. The industry’s fluidity anticipates an uptick in novel innovations and strategic growth tactics from these leading corporations, which in turn propels the sector’s comprehensive growth and transformation.
Key Topics Covered
Chapter 1. Research Framework
Chapter 2. Research Methodology
Chapter 3. Executive Summary: Europe Medical Cannabis Oil Market
Chapter 4. Europe Medical Cannabis Oil Market Overview
Chapter 5. Europe Medical Cannabis Oil Market Analysis, by Derivatives
Chapter 6. Europe Medical Cannabis Oil Market Analysis, by Source
Chapter 7. Europe Medical Cannabis Oil Market Analysis, by Application
Chapter 8. Europe Medical Cannabis Oil Market Analysis, by Route of Administration
Chapter 9. Europe Medical Cannabis Oil Market Analysis, by End-user
Chapter 10. Europe Medical Cannabis Oil Market Analysis, by Distribution Channel
Chapter 11. Europe Medical Cannabis Oil Market Analysis, by Country
Chapter 12. The UK Medical Cannabis Oil Market Analysis
Chapter 13. Germany Medical Cannabis Oil Market Analysis
Chapter 14. The Netherlands Medical Cannabis Oil Market Analysis
Chapter 15. Italy Medical Cannabis Oil Market Analysis
Chapter 16. Spain Medical Cannabis Oil Market Analysis
Chapter 17. Poland Medical Cannabis Oil Market Analysis
Chapter 18. Rest of Europe Medical Cannabis Oil Market Analysis
Chapter 19. Company Profiles (Company Overview, Financial Matrix, Key Product Landscape, Key Personnel, Key Competitors, Contact Address, and Business Strategy Outlook)
A selection of companies mentioned in this report includes, but is not limited to:
- Aurora Cannabis Inc.
- Bedrocan
- Biocann
- BIOTA Biosciences LLC
- Cannamedical
- Mary Jane CBD
- Sanity Group GmbH
- Tilray
- Valcon Medical
For more information about this report visit https://www.researchandmarkets.com/r/dh7q46
About ResearchAndMarkets.com
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Cannabis2 weeks agoSilly Nice Announces Launch of New 1G 510 Vape Cartridge and 2G All-In-One Vape in New York Dispensaries This September
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Cannabis2 weeks agoCannabis Cultivation Market – Global Food Additives, Oils, Tinctures, Cannabis Indica, Cannabis Sativa Forecast 2024-2030
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Cannabis1 week ago
Europe Medical Cannabis Market Forecast 2024-2032: Tilray, Aurora Cannabis, and GW Pharmaceuticals Dominate the Market Landscape
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Cannabis2 weeks ago
Global Hemp Based Food Market Size To Worth USD 4.87 Billion By 2033 | CAGR Of 13.12%
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Innocan1 week agoInnocan Pharma Announces Closing of Private Placement and Grant of Stock Options
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Indivior4 days agoIndivior Provides Update on Aelis Farma’s Clinical Phase 2B Study Results with AEF0117 in Participants with Cannabis Use Disorder
