Canopy Growth (WEED:APH) (TWMJF) has been laser focused on increasing market share in legal marijuana markets all over the world and we are bullish on this Canadian marijuana producer.

Today, reports surfaced stating that Canopy is among bidders for closely held Spanish firm Alcaliber SA. French drugmaker Sanofi owns 40% of the Spanish firm and Juan Abello’s investment fund Torreal SA, owns the other 60%

According to the people close to the deal, Canopy is competing against U.K. health-care investor GHO Capital and Spanish investment firm Alantra Partners SA. Founded in 1973, Alcaliber produces morphine and thebaine narcotic and could be worth at approx. $250 million.

Canopy Growth: A Global Cannabis Leader

Canopy Growth was the first publicly traded licensed Canadian medical marijuana producer and is levered to the emerging medical marijuana market in Germany. In addition to previously announced work in Brazil through its strategic partnership with Entourage Phytolab and its stake in Australia-based AusCann Group, Canopy has also entered the Chilean cannabis market.

Canopy is the currently the world’s largest and most diverse licensed medical marijuana producer and has a greater breadth of multi-site management than any other cannabis firm in the world, operating in seven countries internationally and servicing more than 70,000 medical marijuana patients in Canada as of December 31, 2017.

Earlier this year, the marijuana producer completed a $230 million private placement. Canopy Growth is in the middle of a major global expansion initiative and plans to use the proceeds to fund production capacity expansion initiatives, working capital, and general corporate requirements.

A Long-Term Opportunity

Canopy Growth remains one of the best long-term cannabis investment opportunities. The cannabis producer has the largest market share of Canada, received a $250 million investment from Constellation Brands (STZ), and continues to take market share in legal cannabis markets across the globe.

From Denmark to Chile, Australia to Germany, Canopy Growth is becoming a major player. This stock has run significantly higher but we continue to be bullish on the long-term outlook. Canopy Growth is capitalizing on a global movement that is barely in the first inning of a multi-decade growth cycle.

The company has a very strong balance sheet and has penetrated new international markets. We expect to see Canopy further expand its presence across the globe and see continued growth for years to come.