BRIEF—Neuraxpharm buys cannabidiol company

Neuraxpharm Group, a central nervous system (CNS) specialist with a focus on the European market, has bought STU GmbH, a Switzerland-based developer and distributor of natural cannabidiol (CBD) consumer products.

The deal enables Neuraxpharm to enter the fast-growing CBD space and to build on its business of CNS-related products, including value-added medicines, standard generics and consumer healthcare products.

STU’s Hemplix CBD oils have been developed exclusively in Switzerland using organic raw materials and are subject to strict quality regulations. Another of its brand products is smartCBD. They are currently sold through retail and online sales channels largely in Switzerland and Germany.

The terms of the transaction were not disclosed.