These 3 Stocks Are Top Picks for 2022, Say Analysts

These 3 Stocks Are Top Picks for 2022, Say Analysts

Reuters

Pot producer Canopy to sell German pharma unit C3 on COVID-19 hit

Shares of Canopy were down 3.4% at C$8.85 in afternoon trading. The Ontario-based company said it would get an upfront payment of about C$115.5 million ($89.51 million) from German pharmaceutical firm Dermapharm Holding SE once the deal closes in January, and up to C$61.4 million in a milestone-based payment. That is lower than the C$342.9 million Canopy paid in 2019 to buy C3, which it had often described as “transformational” to its business. Recent COVID-19 lockdown measures in Germany due to soaring virus cases restricted people’s ability to visit doctors and pharmacies, and dented C3’s revenue in the past few quarters.

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