Pedanios becomes the first cannabis oil extract product to comply with the German monograph for the preparation in pharmacies.
High margin derivative products accelerate revenue growth in Europe. Aurora Cannabis gained 2,84%, trading nearly $ 8 a share after the producer announced it had started selling cannabis oils to German pharmacies.
Aurora Cannabis Inc. will begin selling cannabis oils in German pharmacies after receiving all necessary approvals from Canadian and German regulatory authorities.
Aurora is the market leader in medical cannabis in Germany. The Company supplies the German market with dried cannabis flowers via Aurora Deutschland (formerly Pedanios) since December 2015, and in Aurora products grown in Canada since September 2017. Aurora has established a strong brand as a trusted supplier among German prescribers, pharmacies and patients. As one of the few companies able to sell oils in this growing market, Aurora is well positioned to establish brand leadership in the European derivatives market.
Having established a pioneering advantage in the sale of cannabis oils in Germany, we are exceptionally well positioned to extend our market leadership and accelerate the growth of our European operations. As our global production capacity continues to increase, we are able to strategically allocate more product from our EU GMP certified growing facilities to this higher margin market that continues to be largely under-exploited. . The first production facility, the recently acquired MedReleaf Markham facility, and its 100% owned European medical cannabis distributor Aurora Deutschland have achieved this level of certification.
Aurora, headquartered in Edmonton, Alberta, Canada, with a financing capacity of over 500000 kg per year and operations in 24 countries on five continents, is one of the largest and most important cannabis companies in the world.
Highly differentiated from its competitors, Aurora has established a unique, consistent and efficient production strategy based on purpose-built facilities that incorporate state-of-the-art technologies in all processes, defined by extensive automation and customization, resulting large scale of high quality products at low cost.
In addition to the Company's rapid organic growth and strong execution in strategic mergers and acquisitions, which to date includes 16 wholly owned subsidiaries - MedReleaf, CanvasRX, Peloton Pharmaceutical, Aurora Deutschland, H2 Biopharma, Urban Cultivator , BC Northern Lights, Larssen Greenhouses and CanniMed Therapeutics, Anandia Labs, HotHouse Consulting, MED Colombia, Agropro, Borela, ICC Labs and Whistler
Aurora is distinguished by its reputation as a partner and employer of choice in the global cannabis industry, having invested and established strategic partnerships with a range of leading innovators.