STENOCARE supplier update
STENOCARE A/S
NASDAQ FIRST NORTH GROWTH MARKET, DENMARK
TICKER: STENO
Emerald Health Therapeutics (CSE: EMH) (=“Emerald”) a supply partner to STENOCARE has today announced their intention to divest its recreational and medical cannabis division. For STENOCARE is it not expected to have any commercial impact.
Emerald, a supplier to STENOCARE, today announced its intention to divest its recreational and medical cannabis activities in order to focus fully on pharmaceutical development. Due to STENOCARE’s multi supplier strategy, this is not expected to have any impact upon STENOCARE business outlook as other supply partner(s) will cover the future capacity needs in the markets that the company is and will be serving. Also, today’s announcement from Emerald underscores the value in STENOCARE’s own facility that will provide full security of supply in the future as a valuable addition to external suppliers.
STENOCAREs ongoing product approval process in Denmark is not impacted by this news, as the application is based on products from another supplier.
STENOCARE and Emerald will work together to secure a smooth transition to the other supply partners in due time. STENOCARE is on an ongoing basis reviewing and qualifying potential supply partners as part of the multi-supplier strategy. A new supply agreement is due to be announced shortly.
The Emerald press release can be found on this link: https://emeraldhealth.ca/wp-content/uploads/2021/11/EHT-NR-211129-Emerald-Health-Therapeutics-Pivots-out-of-Recreational-and-Medical-Cannabis-and-into-Pharmaceutical-Development.pdf