Proactive Investors - Run By Investors For Investors

Aurora Cannabis makes first shipment of medical cannabis to the UK

The Canadian company said the product has been successfully dispensed from Canada under a new legal framework that came into effect Nov. 1, 2018
Marijuana leaf, stethoscope, and vial
Under the new UK framework, specialist doctors can legally issue prescriptions for cannabis-based medicines

Aurora Cannabis Inc (TSE:ACB) (NYSE:ACB) announced Monday that it has completed its first commercial export of medical cannabis oil to the United Kingdom from a certified pharmacy. 

The Canadian company, which is currently enhancing its UK operations to ensure that patients there have access to a range of Aurora cannabis-based medicines, said the product has been successfully dispensed from Canada under a new legal framework that came into effect Nov. 1, 2018.

"Being one of the first Canadian companies to commercially supply cannabis-based medicines into the UK under the new legal framework reflects Aurora's ability to do business in international markets that have complex and evolving regulatory systems," said Neil Belot, chief global business development officer, in a company statement. "Aurora continues to grow its international footprint, which now includes the UK, a country with a population of approximately 66 million people."

READ: Aurora Cannabis's extraction partner Radient Technologies wins key license from Health Canada

Authorities in the UK granted regulatory approval of the new framework last year.

Under the new UK framework, specialist doctors can legally issue prescriptions for cannabis-based medicines when they agree that their patients could benefit from this treatment, according to the company's statement.  

"We are thrilled to have successfully navigated the complexities of the UK's new regulatory framework to be able to supply high quality, pharmaceutical grade cannabis-based medicines into the UK from one of our EU-GMP certified facilities in Canada," said Dr. Shane Morris, senior vice president of product development and regulatory affairs for Aurora.

Headquartered in Edmonton, Alberta, Aurora is one of the world's largest cannabis producers and has a funded capacity in excess of 500,000 kilograms a year and sales and operations in 22 countries across five continents. It has 15 wholly owned subsidiary companies.

Aurora is a vertically integrated company, meaning it handles all aspects of cannabis production, from facility engineering and design to cannabis breeding and genetics research to home cultivation, wholesale and retail distribution.

To facilitate its growth, the company has invested in and established strategic partnerships with a range of leading innovators, including: Radient Technologies Inc. CVEV:RTI), Hempco Food and Fiber Inc. (CVE:HEMP), and  CTT Pharmaceuticals (OTMKTSLCTTH).

Shares of Aurora Cannabis Inc (NYSE:ACB) (TSE:ABC) dropped Monday on news of its first UK export, to $7.21 per share in the US, down from Friday's market close of $7.54 per share, a decrease of 3.4%.

--Written by Suzette Parmley

Join Proactive’s Crypto, Blockchain and Cannabis Telegram group here
View full ACB profile View Profile

Aurora Cannabis Inc Timeline

Related Articles

1541165310_canadian-flag-1.jpg
November 03 2018
Back Home Medical Cannabis Corp has agreed on a 24,000-kilogram three-year production and supply agreement
A cannabis plant shown next to an oil-based product
08:30
THC is executing medicinal cannabis strategy in Australia, New Zealand and Canada and is looking to Asian markets.
cannabis tablet
March 01 2019
The company fills a niche in the medicinal cannabis market, as it continues to push forward its suite of precision oral dose products

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use