Aurora Cannabis (ACB.TO) (ACBFF) announced a major milestone this morning…
The Canadian licensed medical marijuana producer continues to execute and today, the company announced that it has received all the required permits to ship dried cannabis flower from Canada to Germany.
Aurora Cannabis will now be able to take advantage of a market that is experiencing a severe shortage of medical marijuana. Following this development, the company will start supplying the German medical cannabis market through its wholly-owned subsidiary Pedanios GmbH.
Ships 50 Kilograms of Medical Marijuana to Germany
Yesterday, Aurora Cannabis shipped 50 kg of dried cannabis from its Mountain View County facility to Berlin-based Pedanios, Germany’s leading medical cannabis distributor. The company secured additional import permits for more product and ongoing, regular shipments have been scheduled.
Upon delivery to Pedanios, the product will be distributed to a network of more than 1,500 pharmacies across Germany, which represents the largest single federally-legal medical cannabis market in the world.
Through Pedanios, Aurora plans to become a top producer and supplier of medical cannabis products in Germany, as well as other European Union markets.
Levered to Major Marijuana Markets
From Australia to Germany, this Canadian licensed producer has significantly increased its market share and is levered to new legal cannabis markets across the globe.
In June, Cann Group Limited (ASX: CAN) became the first Australian company to be licensed by the Office of Drug Control for commercial medical cannabis cultivation and production. Aurora acquired 19.9% of Cann Group and became the cornerstone investor ahead of its IPO.
We are favorable on Aurora’s leverage to international markets and we expect Germany to be one of the most significant opportunities.
Germany: The Next Marijuana Frontier
Canadian licensed medical marijuana producers have benefited from the rapidly growing German medical marijuana market since it does not allow for domestic cultivation. Until state-supervised cannabis plantations are set up, the country will continue to rely solely on imported products.
Germany is the largest country (by population) in the European Union and it represents a massive opportunity for marijuana companies. Per the most recent United Nations estimates, the current population of Germany is more than 80.6 million, which is twice the size of California.
Germany has now been writing formal prescriptions for medical marijuana since March and there are no signs of slowing down. We are excited about the German medical marijuana market and expect to see Canadian marijuana producers benefit from this opportunity.