In this market news, Aurora Cannabis Inc. (TSX:ACB), one of the Canadian marijuana stocks, recently received a permit for shipping medical cannabis products to Poland
SmallCapPower | October 30, 2018: Aurora Cannabis Inc. (TSX:ACB), one of the Canadian cannabis stocks, announced recently that it has received approval from the Polish Ministry of Health for its first shipment of medical cannabis to Poland. The Company’s subsidiary, Aurora Deutschland GmbH, will ship the products to a pain treatment center and a hospital in Warsaw in the coming days.
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Aurora Cannabis Inc’s Chief Global Business Development Officer Neil Belot said, “Becoming the first company to supply cannabis to Poland is validation of Aurora’s ability to do business in international markets with high barriers to entry. This is an important milestone for patient access in Poland, which will provide options for people seeking alternative medications to help manage symptoms of a wide range of medical conditions. Aurora continues to grow its international footprint, which now spans 19 countries on five continents, and puts us in an enviable position to capitalize on our early mover advantage.”
Aurora Cannabis Inc’s shipment to Poland is an important step for medical patients, as it will be the first time a non-government run business has received sanction for supplying medical marijuana products in the country. As per Polish legislation, the patients can access medical cannabis products via registered pharmacies only after duly prescribed by the physicians. In some cases, cannabis products will be covered under statutory health insurance, thereby opening a new medical market for Aurora Cannabis.
Aurora Europe’s Head of Business Development, Maximilian Weinberg remarked, “We are thrilled to have successfully navigated the complexities of the Polish regulatory framework and are proud to become the first company to supply a Polish hospital with medical cannabis. Throughout this process we’ve established strong relationships with medical professionals, state-owned wholesalers, and local foundations who have played an integral role in achieving this milestone.”
Aurora Cannabis is one of the leading global cannabis companies, with operations in 18 countries across five continents. The Company’s stock currently trades at a market capitalization of C$8.84 billion on the TSX with a price-to-book multiple of 3.25x and a forward price-to-earnings ratio of 57.38x.
Disclosure: Neither the author nor his family own shares in the company mentioned above.
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