Celadon Pharmaceuticals, a star in the UK’s burgeoning cannabis industry, has inked a £1.2m supply deal with an undisclosed pharmaceutical titan, amplifying excitement throughout the sector.
- Celadon cements a new £1.2M supply deal, with the first shipment predicted to occur in Q4 this year.
- The unparalleled growth of Intercure, an Israeli cannabis legend, sees it achieving record revenues.
- True to its name, Chill Brands delivers a refreshingly bold move by launching products in the UK.
Celadon’s Major Commercial Sales Contract
Unveiling a major commercial sales contract, LSE-listed Celadon has claimed yet another victory with this grand deal anticipated to span three years. History seems to repeat itself as the supply deal repeats the success story of a £3M inaugural contract signed in May, scoring it the second major financial win of the year.
Victoriously, Celadon affirmed its commitment to converting interests into decisive contracts and targets its first shipment in Q4 with the possibility of a two-year extension on the table. This growth and projected revenue genesis solidifies Celadon’s status in the industry, propelling the company further on its revenue-boosting trajectory.
Following the riveting revelation, Celadon’s stock embarked on an upward climb of around 4.5%. As CEO James Short puts it, “We are converting interest into commercial sales, overcoming regulatory obstacles and providing high-quality, domestically-produced products.”
Intercure’s Record-Breaking Metrics
Meanwhile, Intercure sizzles with record-breaking metrics – achieving its seventh consecutive year of soaring revenues, up 14% since the previous tally. The first-half report for 2023 banners sales worth NIS 209m, gross profits of 33% revenue, and a substantial debt clearance of NIS 86m. Nasdaq witnessed a 5% surge in Intercure’s stock after the revelation of these phenomenal figures.
Chill Brands’ UK Launch
On a different note, leading CBD retailer Chill Brands is making its mark in the UK with its products stocked and selling in 120 independent retailers, clubs, and niche category specialist stores. Following the US success of their nicotine-free products, expectations are soaring for their UK launch.
What BRITISH CANNABIS™ has to say:
Britain’s cannabis industry is evolving dynamically. This triumvirate of news – from Celadon’s contracts, and Intercure’s business growth, to Chill Brands’ successful UK launch – demonstrates their impressive agility and continued contribution to the sector’s progress. These updates remind us of the resilient energy and exponential growth potential within the cannabis industry. It is an exciting time to be involved in the industry, with these companies leading the charge in demonstrating the potential for lucrative, sustainable, and consumer-minded businesses centred around medicinal cannabis.