Aurora Cannabis (TSX: ACB) (NYSE: ACB) announced this morning that the firm has expanded its international market exposure to that of Ireland. The firm recently saw one of its oil products approved for import to the European country.
Ireland recently implemented a new Medical Cannabis Access Programme (MCAP), which is slated to run for five years following legislation that was signed into law in June 2019 by the Minister of Health. The approval for medical cannabis is currently limited to a narrow set of medical conditions which include spasticity associated with multiple sclerosis, nausea associated with chemotherapy, and severe epilepsy.
Aurora’s High CBD Oil Drops product is the second product to be approved for importation, prescription, and supply under the new legislation, following Tilray’s approval this past summer. Tilray Inc (NASDAQ: TLRY) shipped an undisclosed amount of cannabis oil to Ireland for use in the MCAP program back in early July, following the initial approval of the program by the health minister.
Aurora did not disclose when the first shipment of CBD oil will be made to the European nation, or what quantities are expected to be exported.
Aurora Cannabis closed Friday’s session at $2.50 on the New York Stock Exchange.
Information for this briefing was found via Sedar and Aurora Cannabis. 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.
Galaxy Brain: Aurora Charting a Course through the Cannabis Supply Glut
For this weekend’s special piece, Deep Dive author Matthew Cox breaks down the Health Canada...