Curaleaf Holdings (CURA), an international provider of cannabis consumer products, announced on Tuesday that Adven GmbH, a wholly-owned subsidiary of Curaleaf International, has entered into a strategic partnership with Zambon GmbH, the German subsidiary of Zambon Spa. The Italian multinational pharmaceutical company is a leader in severe respiratory disease, pain, and Parkinson’s Disease treatments..
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The goal of the agreement is to improve patients’ accessibility to medical cannabis treatments, initially focusing on neurological therapies. The first treatment will be launched in Germany this summer.
Marco Castino, Head of Region Europe in Zambon said, “Supporting therapies, like medical cannabis, are a meaningful addition to Zambon’s European portfolio. Our expertise in neurology and Curaleaf International’s knowledge of the pharmaceutical active processes of cannabinoids provide ideal conditions to bring innovative treatment to patients.”
The market for medical cannabis in Germany is the largest in Europe and is expected to reach $2.1 billion by 2025. (See Curaleaf Holdings stock chart on TipRanks)
A month ago, Canaccord Genuity analyst Matt Bottomley maintained a Buy rating on CURA with a price target of C$24.00. This implies 35.4% upside potential.
The rest of the Street is bullish on CURA with a Strong Buy consensus rating based on 6 Buys. The average Curaleaf price target of C$28.31 implies 59.9% upside potential to current levels.
TipRanks’ Smart Score
CURA scores a 9 out of 10 on TipRanks’ Smart Score rating system, indicating that the stock’s returns are likely to beat the overall market.
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