SEARCH
Subscribe
Track all markets on TradingView

Aurora Cannabis Shipment is Something to Celebrate

Published:

Reading time: 3 min.

In this market news, Aurora Cannabis Inc. (TSX:ACB), one of the Canadian marijuana stocks, said it has completed the first shipment of medical cannabis products to the Czech Republic

SmallCapPower | November 29, 2018: Aurora Cannabis Inc. (TSX:ACB), one of the Canadian cannabis stocks, Tuesday announced that it has completed the first shipment of medical cannabis products to Czech Medical Herbs s.r.o. (CMH), a Czech pharmaceutical wholesaler, which in turn will supply pharmacies throughout that country. The shipment expands Aurora’s international presence to 21 countries. As regulations move in a favorable direction for medical cannabis in several countries, large cannabis producers such as Aurora Cannabis continue to focus on international expansion as their key growth strategy.

For Our Complete Coverage Of Canadian Marijuana Stocks Click Here    

Czech Republic legalized medical cannabis in 2013 and allows specialized physicians to prescribe a total of 180 grams of dry flower product per month per patient. With limited domestic production, imports from federally-licensed producers with EU GMP cultivation facilities, such as Aurora Cannabis, are the primary source of medical cannabis for the country.

Win Big With Our Small Cap Picks

 

Aurora Cannabis Chief Global Business Development Officer Neil Belot said, “This supply arrangement demonstrates our ability to enter into new jurisdictions as the partner of choice in new markets with strong barriers to entry and is testament to the strength and business execution of our European business development team.”

Aurora Cannabis also announced recently its first-quarter 2019 financial results, in which its revenue soared 260% to $29.7 million. The Company’s gross margins of 70% was up 12% year over year, although down by 4% on a quarter-over-quarter basis.

As well, Aurora Cannabis recorded a 59% quarter-over-quarter increase in general and administrative expenses, along with the nearly 100% rise in sales and marketing expenses from the previous quarter.

Aurora Cannabis is one of the world’s largest cannabis producers with a funded capacity of more than 500,000 kg per annum. Aurora Cannabis stock currently trades at a market cap of $7.8 billion with a price-to-book multiple of 1.6x.

Disclosure: Neither the author nor his family own shares in the company mentioned above.

To read our full disclosure, please click on the button below:

The Content contained on this page (including any facts, views, opinions, recommendations, description of, or references to, products or securities) made available by SmallCapPower/Ubika Research is for information purposes only and is not tailored to the needs or circumstances of any particular person. Any mention of a particular security is merely a general discussion of the merits and risks associated there with and is not to be used or construed as an offer to sell, a solicitation of an offer to buy, or an endorsement, recommendation, or sponsorship of any entity or security by SmallCapPower/Ubika Research. The Reader should apply his/her own judgment in making any use of any Content, including, without limitation, the use of any information contained therein as the basis for any conclusions. The Reader bears responsibility for his/her own investment research and decisions. Before making any investment decision, it is strongly recommended that you seek outside advice from a qualified investment advisor. SmallCapPower/Ubika Research does not provide or guarantee any financial, legal, tax, or accounting advice or advice regarding the suitability, profitability, or potential value of any particular investment, security, or information source. Ubika and/or its affiliates and/or their respective officers, directors or employees may from time to time acquire, hold or sell securities and/or commodities and/or commodity futures contracts in certain underlying companies mentioned in this site and which may also be clients of Ubika’s affiliates. In such instances, Ubika and/or its affiliates and/or their respective officers, directors or employees will use all reasonable efforts to avoid engaging in activities that would lead to conflicts of interest and Ubika and/or its affiliates will use all reasonable efforts to comply with conflicts of interest disclosures and regulations to minimize the conflict.
jsteppke
jsteppke

Related articles

Recent articles

© SmallCapPower 2024