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6/25/2018 ABcann Global building its business in a thoughtful, disciplined way | National Post
http://nationalpost.com/sponsored/sponsored-cannabis/abcann-global-building-its-business-in-a-thoughtful-disciplined-way 1/5
The Sponsored Cannabis section is sponsored by ABcann Globali
When ABcann Global CEO Barry Fishman surveys Canada’s
cannabis market, he sees an unprecedented opportunity for growth
and innovation. Bolstered by a strong cash position of approximately
$130 million and a handpicked leadership team, the Ontario-based
company is positioning itself to be a leader in both the medical and
adult-use cannabis markets.
ABcann Global building its business in athoughtful, disciplined way
ABcann Global CEO Barry Fishman: “We are not going to play in all segments of the (cannabis) market. We areselecting areas where we believe we can win and make a difference.” JEFF WASSERMAN / POSTMEDIA
HEIDI WESTFIELD,
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June 15, 2018 3:00 AM EDT
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6/25/2018 ABcann Global building its business in a thoughtful, disciplined way | National Post
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“We are not going to play in all segments of the market. We are
selecting areas where we believe we can win and make a
difference,” says Fishman, who has over 20 years of experience as a
pharmaceutical business leader in Canada and Europe. “We have a
highly engaged team that is passionate about the business and we
are looking forward to creating something unique and novel in this
highly competitive industry.”
Demonstrating its commitment to being a leader in the medical
market, earlier this year ABcann acquired Harvest Medicine, a
cannabis clinic with approximately 15,000 active patients.
Recognized for its leading patient education program, Harvest
Medicine will be bringing its patient-centric model to all Canadians
via the launch of its telemedicine app this fall.
The insights gained from Harvest Medicine regarding patient
experiences, needs and a desire for greater guidance led ABcann to
develop a new brand: Beacon Medical. Beacon will be a recognized
producer of standardized pharmaceutical-grade cannabis products.
The name Beacon was chosen, says ABcann’s chief marketing
officer Sung Kang, because it means a signal or sign of hope for
people seeking shelter or comfort: “For us, that is the perfect
metaphor for what we will deliver to our customers.”
In addition, ABcann commissioned a national research study earlier
this year with 1,500 Canadians, some of whom use medical
cannabis, and others who don’t. The study found a large number of
consumers believe they would get a lot of value out of medical
cannabis, but find the category complicated to navigate. This
provided additional insight into the Canadian medical cannabis
marketplace.
“What these Canadians are looking for is a way to use medical
cannabis, but they don’t know how to go about that,” Kang notes.
“They want some help when it comes to making all the choices they
need to make to get the most out of medical cannabis. We want to
lead in helping patients and clinicians make the right choice.”
The goal is to make the selection process a little easier, so
consumers aren’t put in the position of sifting through a lot of
statistics and strain names. Kang says Beacon will provide simplified
content to demystify medical cannabis for new users. The brand will
also offer a range of dosing methods to meet varying customer
needs.
“We want Beacon to be a powerhouse when it comes to being
dedicated to patients, medical conditions, and how to best treat
those conditions with cannabis,” Kang says.
Along with the new medical brand, ABcann is in the process of
significantly expanding production capacity in Napanee, Ont. Their
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June 15, 2018 3:08 PM EDT
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advanced indoor growing technology, designed in consultation with
the University of Guelph, creates a highly controlled environment that
results in high-quality, consistent product.
ABcann is also forging strategic relationships with retailers and
product development partners. On the recreational side, the
company has entered into a strategic investment and a preferred
supply agreement with Choom, a creative retailer that plans to be a
recognized leader in the future adult-use market. ABcann is also
building key partnerships in international markets, concentrating its
current efforts on Germany and Australia.
“We want to be a niche player with high-quality and novel products
and services,” Fishman says. He points out ABcann has a world-
class advisory board that includes Raphael Mechoulam, a global
pioneer in medical cannabis research. “We want to invest in new
product development and R&D so that we can bring out novel
products that satisfy unmet customer needs.”
After spending two decades as a leader in the pharmaceutical
industry, Fishman took the helm of ABcann last October. He has a
proven record of building successful businesses and generating
robust sales. Before joining ABcann, Fishman was the CEO of Merus
Labs, a European-focused specialty pharmaceutical company. Under
his leadership, Merus experienced a surge in growth, from $30
million in sales to over $120 million in three years, leading to its
acquisition by Norgine B.V. for approximately $342 million in July
2017. Fishman also has experience as a director of public
companies in the cannabis sector, including Aurora Cannabis and
Canopy Growth.
Fishman says that Canada is at the forefront of building this new
industry – a couple of years ahead of Germany and Australia. The
capital markets in this country have been very favourable to the
emerging cannabis sector. With legalization likely just weeks away,
he is confident ABcann will be a strong force in this expanding and
“super-exciting” industry.
“We have the luxury of creating our team from a blank slate. We are
very selective and have built a talented, diverse and complementary
leadership team,” Fishman says, on the key strengths that are
propelling ABcann forward. “Our team is building the business in a
thoughtful and disciplined way, while remaining nimble and
entrepreneurial.”
This story was created by Content Works, Postmedia’s commercial
content division, on behalf of ABcann Global.
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