{"id":47388,"date":"2022-08-17T16:01:49","date_gmt":"2022-08-17T14:01:49","guid":{"rendered":"https:\/\/pharma-trend.com\/en\/correcting-and-replacing-pharmasimple-announces-its-decision-to-acquire-an-equity-stake-in-phytocann-group\/"},"modified":"2022-08-17T16:01:49","modified_gmt":"2022-08-17T14:01:49","slug":"correcting-and-replacing-pharmasimple-announces-its-decision-to-acquire-an-equity-stake-in-phytocann-group","status":"publish","type":"post","link":"https:\/\/pharma-trend.com\/en\/correcting-and-replacing-pharmasimple-announces-its-decision-to-acquire-an-equity-stake-in-phytocann-group\/","title":{"rendered":"CORRECTING and REPLACING: Pharmasimple Announces Its Decision to Acquire an Equity Stake in Phytocann Group"},"content":{"rendered":"
\n

PARIS–(BUSINESS WIRE)–Headline of release dated August 16, 2022, should read: Pharmasimple Announces Its Decision to Acquire an Equity Stake in Phytocann Group (instead of Phytocann Group announces its acquisition of a stake in Pharmasimple). Also, first sentence of second paragraph should read: Pharmasimple is delighted to acquire a 5% equity stake in Phytocann Group<\/a> for the sum of 5 million euros (instead of Phytocann Group<\/a> is delighted to acquire a 5% stake in Pharmasimple for the sum of 5 million euros).\n<\/p>\n

<\/a>
<\/a><\/p>\n

\nThe updated release reads:\u00a0\n<\/p>\n

\nPHARMASIMPLE ANNOUNCES ITS DECISION TO ACQUIRE AN EQUITY STAKE IN PHYTOCANN GROUP <\/b>\n<\/p>\n

\nPhytocann Group, a vertically integrated company and European CBD pioneer, is proud to announce a partnership with Pharmasimple, a company listed on Euronext Growth Paris and industry leader in Belgium. This strategic rapprochement opens up a new era for the distribution of cannabic products in pharmacies.<\/b>\n<\/p>\n

\nPharmasimple is delighted to acquire a 5% equity stake in Phytocann Group<\/a> for the sum of 5 million euros. Beyond the additional skills and expertise, this increase in capital lays the foundations for a medium-term IPO.\n<\/p>\n

\nThe research and development component is also particularly important. New ranges and the launch of new products are already being explored by the two entities. As a long-standing online pharmacy leader, Pharmasimple<\/a> has been undergoing a business transformation for several months by diversifying its network of physical pharmacies. Having set itself the goal of 200 by 2025, 14 are already open and 15 are scheduled to open in 2022.\n<\/p>\n

\nThis strategic partnership will lead to the introduction of a range of unique products dedicated to Pharmasimple, including CBD oils<\/a> and cosmetics<\/a>. It should be noted that the brands belonging to Phytocann Group (Harvest Laboratoires<\/a>, Ivory<\/a>, Easy Weed<\/a>, Herboristerie Alexandra<\/a> etc.) will be distributed both in shops and on the Pharmasimple website.\n<\/p>\n

\nAs online sales of CBD<\/a> are of crucial importance to Phytocann Group, this partnership will enable us to create shared synergies and thus to step up and expand our online presence. Always striving to create and offer outstanding products, research and tests are being carried out on new product innovations based on CBD<\/a> and other non-psychotropic cannabinoids.\n<\/p>\n

\nThis capital acquisition takes advantage of the best possible timing regarding the expansion of Phytocann Group and the opening up of the medicinal cannabis market in Europe, a sign of real added value for Pharmasimple.\n<\/p>\n

\nDistribution in pharmacies and drugstores was a major challenge. This also strengthens the positioning and the DNA of a 100% vertically integrated group, from production to sales.\n<\/p>\n

\nIf you would like any further information or an interview with a leader of Phytocann Group, don\u2019t hesitate to contact the press office: <\/b>sbotton@stepconseil.com<\/b><\/a>\n<\/p>\n

\nThe original source-language text of this announcement is the official, authoritative version. Translations are provided as an accommodation only, and should be cross-referenced with the source-language text, which is the only version of the text intended to have legal effect.\n<\/p>\n

Contacts<\/b> <\/p>\n

\nPRESS<\/b>\n<\/p>\n

\nSamuel BOTTON: +33 (0)6 84 79 99 61 \u2013 sbotton@stepconseil.com<\/a><\/b>\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

PARIS–(BUSINESS WIRE)–Headline of release dated August 16, 2022, should read: Pharmasimple Announces Its Decision to Acquire an Equity Stake in Phytocann Group (instead of Phytocann Group announces its acquisition of a stake in Pharmasimple). Also, first sentence of second paragraph should read: Pharmasimple is delighted to acquire a 5% equity stake in Phytocann Group for … [Read more…]<\/a><\/span><\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":{"0":"entry","1":"post","2":"publish","3":"author-business","4":"post-47388","6":"format-standard","7":"category-industry"},"yoast_head":"\nCORRECTING and REPLACING: Pharmasimple Announces Its Decision to Acquire an Equity Stake in Phytocann Group - Pharma Trend<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pharma-trend.com\/en\/correcting-and-replacing-pharmasimple-announces-its-decision-to-acquire-an-equity-stake-in-phytocann-group\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CORRECTING and REPLACING: Pharmasimple Announces Its Decision to Acquire an Equity Stake in Phytocann Group - Pharma Trend\" \/>\n<meta property=\"og:description\" content=\"PARIS–(BUSINESS WIRE)–Headline of release dated August 16, 2022, should read: Pharmasimple Announces Its Decision to Acquire an Equity Stake in Phytocann Group (instead of Phytocann Group announces its acquisition of a stake in Pharmasimple). 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