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IDC’s Worldwide Ethernet Switch and Router Trackers Show Solid Growth in Both Markets for Q1 2019

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Enterprise Switch Market Grew 7.8% Year Over Year; Router Market
Rose 8.2% in 1Q19

FRAMINGHAM, Mass.–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/Ethernetswitch?src=hash” target=”_blank”gt;#Ethernetswitchlt;/agt;–The worldwide Ethernet switch market (Layer 2/3) recorded $6.8 billion
in revenue in the first quarter of 2019 (1Q19), an increase of 7.8% year
over year. Meanwhile, the worldwide total enterprise and service
provider (SP) router market revenues grew 8.2% year over year 1Q19 to
$3.6 billion. These growth rates are according to results published in
the International Data Corporation (IDC)
Quarterly
Ethernet Switch Tracker
and IDC
Quarterly Router Tracker
.

Ethernet Switch Market Highlights

From a geographic perspective, the 1Q19 Ethernet switch market had a
strong quarter across the globe. The Asia/Pacific (excluding Japan)
(APeJ) region grew 8.6% year over year. Notable gains in the region
included China, which grew 11.7% year over year, and Taiwan, which
increased 15.3%. Meanwhile, Japan’s Ethernet switch market rose 1.3%.

The Middle East and Africa (MEA) region saw growth of 9.5% year over
year, led by Egypt, which rose 17.3%. Europe saw more modest growth with
Western Europe growing 3.5% and Central and Eastern Europe remaining
stagnant with 0.3% year-over-year growth. Notable markets in Western
Europe included the United Kingdom, which was down 1.2% from a year
earlier, while Germany was up 2.3% and Italy grew 15.5% year over year.
In Central and Eastern Europe, Russia declined 13.4% year over year. In
the Americas, the United States grew 11.9% while Canada increased 2.6%
year over year. Latin America was down 4.5% overall with Brazil’s 8.5%
year-over-year decline offset by 11.0% growth in Mexico.

“Organizations across the globe are looking to digitally transform
themselves in an effort to meet market and competitive needs and improve
user experiences. As they do so, enterprises are realizing the critical
role the network plays in their broader IT transformation initiatives,”
said Rohit
Mehra
, vice president, Network
Infrastructure
, at IDC. “This has led to continued, and growing,
investment in Ethernet switching, routing, software-defined networks
(SDN), and SD-WAN platforms and architectures that support the
increasing demands of an always-connected world.”

100Gb Ethernet switch revenues continue to grow rapidly. Port shipments
for 100Gb switches rose 85.3% year over year to 3.6 million. 100Gb
revenues grew 59.0% year over year in 1Q19 to $1.2 billion, making up
17.3% of the market’s revenue. 25Gb ports also saw impressive growth,
increasing 133.3% to $304.0 million, with port shipments growing 104.8%
year over year. 40Gb switches continue to be falling out of favor with
revenues declining 21.3% year over year. Lower-speed campus switches, a
more mature part of the market, showed moderate growth. 10Gb port
shipments rose 8.6% year over year to make up 28.7% of the market’s
revenue. 1Gb switches grew 2.9% year over year in port shipments, making
up 40.3% of the market’s total revenues.

Router Market Highlights

The worldwide enterprise and service provider router market grew 8.2% on
a year-over-year basis in 1Q19 with the major service provider segment,
which accounts for 75.3% of revenues, increasing 7.1% and the enterprise
segment of the market growing 11.9%. From a regional perspective, the
combined service provider and enterprise router market increased 12.0%
in APeJ with the enterprise segment up 17.7%. Japan’s total market grew
27.1% year over year. Central and Eastern Europe regional revenues rose
19.7% year over year, while the Western Europe combined enterprise and
service provider market grew 3.7% year over year. The Middle East &
Africa region was up 12.6% fueled by a 15.7% increase in service
provider revenues. In the U.S., the enterprise segment was up 15.7% but
the service provider revenues fell 5.8%, causing the total market to
decline 0.5% year over year. Canada’s market rose 28.5% year over year
and the Latin American market grew 9.0%.

Vendor Highlights

Cisco finished 1Q19 with an 8.3% year-over-year increase in
overall Ethernet switch revenues and market share of 53.7%. In the hotly
contested 25Gb/100Gb segment, Cisco is the market leader with 39.4% of
the market’s revenue. Cisco’s combined service provider and enterprise
router revenue rose 15.3% year over year, with enterprise router revenue
increasing 16.1% and service provider revenues growing 14.8%. Cisco’s
combined SP and enterprise router market share increased to 42.4%, up
from 37.4% in 4Q18.

Huawei’s Ethernet switch revenue rose 18.9% on an annualized
basis, giving the company market share of 8.9%, up from 8.1% a year
earlier. The company’s combined service provider and enterprise router
revenue rose 5.7% year over year with a market share of 24.5%.

Arista Networks saw Ethernet switch revenues increase 24.0% in
1Q19, bringing its share to 7.5% of the total market, up from 6.5% a
year earlier. The company continues to cater to the higher end of
Ethernet switch speeds, with 100Gb revenues accounting for 67.6% of the
company’s total revenue, indicating the company’s focus on hyperscale
and cloud providers.

HPE‘s Ethernet switch revenue declined 5.6% year over year,
giving the company a market share of 5.3%.

Juniper‘s Ethernet switch revenue declined 23.4% in 1Q19,
bringing its market share to 2.6%. Juniper saw an 8.2% decline in
combined enterprise and service provider router sales, bringing its
market share in the router market to 10.4%.

“There continue to be diverging trends across the Ethernet switch
market,” said Petr
Jirovsky
, research director, IDC
Networking Trackers
. “Hyperscalers and service providers continue to
demand the fastest Ethernet switching speeds in the market, leading to
the highest growth rates in both port shipments and revenues. Meanwhile,
the more mature enterprise switching platforms continue to make up a
larger share of the overall market.”

A graphic illustrating the worldwide revenues for the top 5 Ethernet
switch companies over the previous five quarters is available by viewing this
press release on IDC.com
.

The IDC
Quarterly Ethernet Switch Tracker
and the IDC
Quarterly Router Tracker
provide total market size and vendor shares
for the Ethernet switch and router technologies in an easy-to-use Excel
pivot table format. The geographic coverage for both the Ethernet switch
market and the router market includes eight major regions (USA, Canada,
Latin America, Asia/Pacific (excluding Japan), Japan, Western Europe,
Central and Eastern Europe, and Middle East and Africa) and 60
countries. The Ethernet switch market is further segmented by speed
(100Mb, 1000Mb, 10Gb, 25Gb, 40Gb, 50Gb, 100Gb), product (fixed managed,
fixed unmanaged, modular), and layer (L2, L3, ADC). Measurement for the
Ethernet switch market is provided in vendor revenue, value, and port
shipments. The router market is further split by product (high-end,
mid-range, low-end, SOHO), deployment (service provider, enterprise),
connectivity (core, edge), and the measurements are in vendor revenue,
value, and unit shipments.

For more information about IDC’s Quarterly Ethernet Switch and Router
Trackers, please contact Kathy Nagamine ([email protected]).

About IDC Trackers
IDC
Tracker
products provide accurate and timely market size, vendor
share, and forecasts for hundreds of technology markets from more than
100 countries around the globe. Using proprietary tools and research
processes, IDC’s Trackers are updated on a semiannual, quarterly, and
monthly basis. Tracker results are delivered to clients in user-friendly
excel deliverables and online query tools.

About IDC
International Data Corporation (IDC) is the
premier global provider of market intelligence, advisory services, and
events for the information technology, telecommunications, and consumer
technology markets. With more than 1,100 analysts worldwide, IDC offers
global, regional, and local expertise on technology and industry
opportunities and trends in over 110 countries. IDC’s analysis and
insight helps IT professionals, business executives, and the investment
community to make fact-based technology decisions and to achieve their
key business objectives. Founded in 1964, IDC is a wholly-owned
subsidiary of International Data Group (IDG),
the world’s leading media, data and marketing services company. To learn
more about IDC, please visit www.idc.com.
Follow IDC on Twitter at @IDC
and LinkedIn.

Contacts

Rohit Mehra
[email protected]
508-935-4343

Petr
Jirovsky
[email protected]
413-313-6112

Michael
Shirer
[email protected]
508-935-4200


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Cannabis

Cannabis Capsule Global Analysis Report 2024: Market to Reach $79.2 Billion in 2028 – Forecast to 2033 Featuring GW Pharmaceuticals, Trulieve Cannabis, Green Thumb Industries, Tilray, Columbia Care

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Innocan

Innocan Pharma Initiates FDA Approval Process for Liposome Injection Therapy for Chronic Pain

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With its submission of a Pre-IND Meeting Request Letter, Innocan initiates the regulatory process with the U.S. Food and Drug Administration (FDA) for the approval of its prolonged CBD release technology for human use

HERZLIYA, Israel and CALGARY, AB, April 22, 2024 /PRNewswire/ — Innocan Pharma Corporation (CSE: INNO) (FSE: IP4) (OTCQB: INNPF) (“Innocan” or the “Company”), is pleased to announce that is has reached a key milestone: the Company submitted its letter of application for a Pre-IND meeting, the first phase in the FDA approval process in the United States for Innocan’s Liposome-Cannabidiol (LPT-CBD) injectable treatment of chronic pain.

With the global market for pain therapeutics widely expected to exceed US$100 billion by 2032[1], LPT therapy which requires only one single monthly subcutaneous injection, is positioned as a highly attractive alternative to opioid-based approaches. Opioids have and continue to take a significant human toll in recent years, with more than three-quarters of drug overdose deaths in the United States involving opioids, according to the United States Center for Disease Control and Prevention[2].

Innocan’s therapy has shown consistent efficacy in multiple pre-clinical trials in recent years of it’s LPT-CBD injectable treatment through prolonged and controlled release of CBD in animals with chronic pain conditions. Innocan’s Pre-IND Meeting Request Letter to the FDA is a key milestone and important first step in seeking approval of its LPT-CBD therapy for use in humans. At the Pre-IND meeting, the objective will be to obtain guidance from the FDA on the preclinical and clinical development plan, enabling the initiation of an Investigational New Drug (IND) program in the United States.

Iris Bincovich, CEO of Innocan, commented: “We are extremely excited to embark on this next stage in the development of LPT-CBD injectables, this is a major Milestone for Innocan Pharma. We have invested significant effort and many thousands of person-hours in its research and development, accumulating a wealth of preclinical data that will serve as the foundation for our participation in the FDA process. This is a key milestone for Innocan and marks our first step towards the FDA’s recognition of our technology. We see significant potential for our therapy, with an addressable market for pain management therapeutics expected to exceed US $100 billion by 2032, and we look forward to tapping that.

Dr. Joseph Pergolizzi, Innocan’s FDA Advisory Board Member, added:

“We have worked hard to catalogue the data collected as part of our animal LPT therapy testing program and prepare it for the FDA. We look forward to working under FDA guidance, with the goal of completing the review process as quickly and efficiently as possible. We believe that Innocan’s unique treatment method, if and when it should become FDA-approved has the potential of being a highly valuable non-opioid addition in the medical arsenal of the management of chronic pain.”

About Innocan

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 based on advanced 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: 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 on advanced targeted online sales. https://innocanpharma.com/

For further information, please contact:

For Innocan Pharma Corporation:
Iris Bincovich, CEO

+1-516-210-4025

+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.

Cautionary note regarding forward-looking information

Certain information set forth in this news release, including, without limitation, information regarding research and development, collaborations, the filing of potential applications with the FDA and other regulatory authorities, the potential achievement of future regulatory milestones, the potential for treatment of conditions and other therapeutic effects resulting from research activities and/or the Company’s products, requisite regulatory approvals and the timing for market entry, is forward-looking information within the meaning of applicable securities laws. By its nature, forward-looking information is subject to numerous risks and uncertainties, some of which are beyond Innocan’s control. The forward-looking information contained in this news release is based on certain key expectations and assumptions made by Innocan, including expectations and assumptions concerning the anticipated benefits of the products, satisfaction of regulatory requirements in various jurisdictions and satisfactory completion of requisite production and distribution arrangements.

Forward-looking information is subject to various risks and uncertainties which could cause actual results and experience to differ materially from the anticipated results or expectations expressed in this news release. The key risks and uncertainties include but are not limited to: general global and local (national) economic, market and business conditions; governmental and regulatory requirements and actions by governmental authorities; and relationships with suppliers, manufacturers, customers, business partners and competitors. There are also risks that are inherent in the nature of product distribution, including import / export matters and the failure to obtain any required regulatory and other approvals (or to do so in a timely manner) and availability in each market of product inputs and finished products. The anticipated timeline for entry to markets may change for a number of reasons, including the inability to secure necessary regulatory requirements, or the need for additional time to conclude and/or satisfy the manufacturing and distribution arrangements. As a result of the foregoing, readers should not place undue reliance on the forward-looking information contained in this news release concerning the timing of launch of product distribution. A comprehensive discussion of other risks that impact Innocan can also be found in Innocan’s public reports and filings which are available under Innocan’s profile at www.sedar.com.

Readers are cautioned that undue reliance should not be placed on forward-looking information as actual results may vary materially from the forward-looking information. Innocan does not undertake to update, correct or revise any forward looking information as a result of any new information, future events or otherwise, except as may be required by applicable law.

[1] https://www.gminsights.com/industry-analysis/pain-management-drugs-market

[2] https://www.cdc.gov/opioids/data/index.html

Logo – https://mma.prnewswire.com/media/2046271/3968398/Innocan_Pharma_Corporation_Logo.jpg

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Curaleaf

Curaleaf Completes Acquisition of Northern Green Canada

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Bolsters Company’s Advantage in Several Key Emerging Markets, including Australia, New Zealand, Germany, Poland and the United Kingdom

NEW YORK, April 22, 2024 /PRNewswire/ — Curaleaf Holdings, Inc. (TSX: CURA) (OTCQX: CURLF) (“Curaleaf” or the “Company”), a leading international provider of consumer cannabis products, announced today the closing of its acquisition of Northern Green Canada (“NGC”), a vertically integrated Canadian licensed cannabis producer focused primarily on expanding in the international market through its EU-GMP certification. The accretive acquisition amplifies the Company’s strategic advantage in established European markets including Germany, Poland and the United Kingdom and provides a foothold in the emerging markets of Australia and New Zealand.

Integrating NGC’s international operation will equip Curaleaf with a secure and consistent high quality, non-irradiated, indoor EU-GMP flower supply, essential to maintaining its leading positions in Germany, the United Kingdom and Poland.

“We are thrilled to welcome NGC formally to the Curaleaf family of global brands,” said Boris Jordan, Founder and Executive Chairman of Curaleaf. “This is an incredibly important deal for our international expansion strategy, as we’ll be able to bolster our supply of high quality EU-GMP certified flower immediately to key European markets as well as enter the fast-growing markets of Australia and New Zealand.”

The global cannabis market is projected to generate $55 billion in sales by 2027. Emerging markets beyond the United States and Canada, including Germany, Australia and New Zealand are expected to contribute $6.3 billion of the $55 billion projection.

Terms of the acquisition of NGC include an initial payment at closing of the Company’s Subordinate Voting Shares valued at approximately US $16 million, subject to a typical post-closing adjustment. An earnout may also be paid in 2025 based upon 2024 performance of NGC’s operations, up to 50% of which will be cash and the rest paid in additional Subordinate Voting Shares. The issuance of Subordinate Voting Shares in connection with the acquisition of NGC has been conditionally approved by the Toronto Stock Exchange, subject to fulfilling customary listing conditions.

About Curaleaf Holdings
Curaleaf Holdings, Inc. (TSX: CURA) (OTCQX: CURLF) (“Curaleaf”) is a leading international provider of consumer products in cannabis with a mission to enhance lives by cultivating, sharing and celebrating the power of the plant. As a high-growth cannabis company known for quality, expertise and reliability, the Company and its brands, including Curaleaf, Select, Grassroots, JAMS, Find and Zero Proof provide industry-leading service, product selection and accessibility across the medical and adult use markets. Curaleaf International is the largest vertically integrated cannabis company in Europe with a unique supply and distribution network throughout the European market, bringing together pioneering science and research with cutting-edge cultivation, extraction and production. Curaleaf is listed on the Toronto Stock Exchange under the symbol CURA and trades on the OTCQX market under the symbol CURLF. For more information, please visit https://ir.curaleaf.com.

Forward Looking Statements
This media advisory contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward–looking statements or information. Generally, forward-looking statements and information may be identified by the use of forward-looking terminology such as “plans”, “expects” or, “proposed”, “is expected”, “intends”, “anticipates”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. More particularly and without limitation, this news release contains forward-looking statements and information concerning the expected benefits of the acquisition of NGC, and the Company’s planned expansion on internal markets, the Company’s anticipated strategic advantages in European markets and emerging markets, the integration of NGC’s internal operations, the anticipated global cannabis market, and the listing of shares issuable in connection with the acquisition on the Toronto Stock Exchange. Such forward-looking statements and information reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company with respect to the matters described in this new release, including the Company’s ability to successfully realize the expected benefits of the acquisition, and the Company’s ability to fulfil the listing conditions imposed by the Toronto Stock Exchange. Forward-looking statements involve risks and uncertainties, which are based on current expectations as of the date of this release and subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements, including the failure to realize the expected benefits of the acquisition, or the Company’s failure to fulfil the listing conditions imposed by the Toronto Stock Exchange. Additional information about these assumptions and risks and uncertainties is contained under “Risk Factors and Uncertainties” in the Company’s latest annual information form filed on March 6, 2024, which is available under the Company’s SEDAR profile at http://www.sedar.com, and in other filings that the Company has made and may make with applicable securities authorities in the future. Forward-looking statements contained herein are made only as to the date of this press release and we undertake no obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. We caution investors not to place considerable reliance on the forward-looking statements contained in this press release. The Toronto Stock Exchange has not reviewed, approved or disapproved the content of this news release.

INVESTOR CONTACT
Curaleaf Holdings, Inc.
Camilo Lyon, Chief Investment Officer
[email protected]

MEDIA CONTACT
Curaleaf Holdings, Inc.
Tracy Brady, SVP Corporate Communications
[email protected]

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