Aphria Inc (TSX: APHA) (NYSE: APHA) issued a follow up to yesterday’s EU-GMP news this morning, identifying that Aphria One has also received European Good Manufacturing Practices certification, which opens the firm to significant international opportunity relative to its peers. The certification will enable Aphria-cultivated medical cannabis products to be shipped to the European Union for consumption.
Much like Aphria’s ARA – Avanti Rx Analytics subsidiary, Aphria One was granted the certification by that of the Malta Medicines Authority. The facility is now deemed to be certified as an active substance manufacturer.
The facility certification should offer significant opportunity for that of Aphria, who currently wholly owns CC Pharma, a certified distributor of medical cannabis within the European Union. The Aphria One facility consists of over 1.1 million square feet of licensed canopy space, and currently has an estimated annual production capacity of 110,000 kilograms of cannabis. That product will now be qualified for export to European markets, where it can be sold as medical cannabis. The product is also eligible for conversion into medical cannabis oils, which also has demand in the European Union.
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Aphria yesterday identified that the firm expects the first products to be shipped to the European Union, via its wholly owned Avanti and CC Pharma subsidiaries, in the fourth fiscal quarter of 2020.
Aphria Inc last traded at $5.32 on the NYSE.
Information for this briefing was found via Sedar and Aphria Inc. The author has no 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.
