The exports to Germany have finally begun for Aphria (TSX: APHA) (NASDAQ: APHA). After touting the benefits of exporting to the region for a number of years, the company has finally completed its first EU-GMP shipment of dried flower.
The shipment, while thin on details, was shipped from the Aphria One facility to its wholly owned CC Pharma GmbH subsidiary in Germany, enabling the company to complete its long term goal of using its own firm for distribution of medical cannabis within Europe. The pharmaceutical distributor reportedly has access to over 13,000 pharmacies in the country.
It remains unclear what size the shipment was, or what value was placed on it. Sales of the product are slated to begin in the second quarter of FY2021 for the firm however.
Commenting on the milestone, Aphria CEO Irwin Simon stated, “We are leveraging our strong medical platform and multi-faceted German strategy, which combines domestic cultivation, import licenses and large distribution infrastructure, to increase access to high-quality medical cannabis for patients worldwide.” He also commented that the cultivation facility that the firm is building within the country is expected to be completed in the second quarter of FY2021 as well.
Aphria Inc last traded at $4.91 on the Nasdaq.
Information for this briefing was found via Sedar and Aphria Inc. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
