Aurora Cannabis (NYSE: ACB) (TSX: ACB) has received all required approvals to sell its cannabis oil in Germany.
Aurora says that the Canadian and German regulatory authorities have cleared the company for selling cannabis oils to German pharmacies.
According to the company, Pedanios 5/1 drops have become the first extract derived oil product compliant with the German monograph for in-pharmacy preparation.
Aurora Bullish on German Cannabis Market
Aurora is a major player in the German medical cannabis market.
Since December 2015, the company has supplied the German market with dried cannabis flower through Aurora Deutschland. The company has been selling Canadian-grown Aurora products in Germany since September 2017.
As one of the few companies able to sell oils in the rapidly-growing German cannabis market, Aurora says that it is well positioned to establish “brand leadership in the European derivatives market.”
“Having established early mover advantage in selling cannabis oils in Germany, we are exceptionally positioned to extend our market leadership and accelerate growth of our European operations,” Aurora Chief Global Business Development Officer Neil Belot stated.