Canopy Growth unit in pilot to test medical marijuana in treating senior pain, cognitive function

Canopy Growth unit in pilot to test medical marijuana in treating senior pain, cognitive function

Canopy Growth Corp. CGC, -6.37% [ca:weed] said Wednesday its Spectrum Cannabis unit is teaming up the Ontario Long Term Care Association for a pilot that will assess the use of medical marijuana in treating pain and cognitive function in seniors. The six-month study will be conducted at some of Ontario’s 630 long-term care homes to measure whether medical marijuana can replace other, less-desirable therapies and treatments. The move marks “the first step in developing an evidence-based, best practice approach to medical cannabis that will result in consistent care for thousands of seniors and ultimately improve quality of life and outcomes in long-term care homes,” Canopy co-Chief Executive Mark Zekulin said in a statement. Canada is gearing up for full legalization of cannabis for adult recreational use on Oct. 17. Shares were up 2.4% premarket and have gained 93% in 2018, while the S&P 500 SPX, -0.04% has gained 9%.

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