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Aurora Cannabis To Supply Medical Cannabis To Luxembourg

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Aurora Cannabis To Supply Medical Cannabis To Luxembourg

Canadian marijuana producer Aurora Cannabis Inc (NYSE: ACB) has been selected to supply medical cannabis to Luxembourg.

The decision by the Luxembourg Health Ministry helps Aurora expand its footprint in the European Union and comes more than a week after the company announced it completed the first shipment of medical marijuana to the Czech Republic.

What Happened

After it was selected by the Health Ministry, Aurora Cannabis received all required authorizations for import and export of cannabis and has released its first shipment of medical cannabis to Luxembourg's Division de la Pharmacie et des Medicaments. The company said it received an initial purchase order for around 20 kilograms of marijuana. It's the second time Aurora received an order from a European Government.

The commencement of shipping to Luxembourg comes 10 days after Aurora Cannabis said it had completed the first shipment of medical cannabis products to the Czech Republic following an order from Czech Medical Herbs, a pharmaceutical wholesaler.

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Why It's Important

The European Cannabis market is expected to be one of the largest in the world. A report by Prohibition Partners projects the European cannabis market to reach more than $130 billion by 2028. That's why a number of big producers are already establishing their footprint in Europe.

What's Next

Aurora seems to be making EU one of its key markets. At the beginning of 2018, it created a joint venture with Alfred Pedersen & Søn, a large greenhouse vegetable producer in Europe. The joint venture is working on a 1,000,000 square foot high-technology, fully automated cannabis production facility in Denmark, which is already partially operational.

Aurora was also put on a short list of a canceled tender to grow medical marijuana in Germany. In July, the German government restarted the tender, which is expected to be completed in 2019.

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Posted-In: Czech Republic LuxembourgCannabis News Eurozone Global Markets Best of Benzinga

 

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