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Italy Chooses Aurora Cannabis To Supply Medical Marijuana

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Italy Chooses Aurora Cannabis To Supply Medical Marijuana

Aurora Cannabis Inc. (NYSE: ACB) announced Thursday it has won the Italian government’s public tender to supply medical marijuana in Italy.

The company was the winner among five companies that participated in the tender and it's expected to sign the contract this fall.

Aurora Cannabis was the only company to meet the demanding requirements of the tender, with the Italian cannabis market being one of the most strictly regulated in the world. The company is not new to this market, as it has been supplying it for the last 15 months, also winning the first tender held there in January 2018.

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Upon the deal, Aurora is supposed to supply at least 400kg of medical cannabis over the next two years.

"We're committed to building a successful, long-term medical cannabis market in Italy," said Neil Belot, Aurora's Chief Global Business Development Officer. "We want to continue to build our connection with patients and pharmacies in the Italian market, who have come to know and appreciate our products over most of the past two years. I'm extremely proud of our team."

Aurora Cannabis is based in Edmonton, Alberta, Canada and it has funded capacity of more than 625,000kg per year, operating across five continents and 25 countries.

Aurora's stock closed Wednesday’s session at $7.41 and was trading lower by 1.3% in Thursday's pre-market session.

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Posted-In: italy medical marijuana Neil BelotCannabis News Emerging Markets Markets Best of Benzinga

 

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