Aurora Cannabis sent its first shipment of medical marijuana to Germany, a market with so much growth potential that Canadian licensed producers have been racing to gain a toehold there.
Monday’s shipment of 50 kilograms (110 pounds) of dried cannabis to Berlin-based Pedanios represents “a critical step” in Aurora’s international expansion strategy and provides a gateway to the wider EU market, the company said in a news release.
Pedanios, a wholly owned subsidiary of Alberta-based Aurora (TSX Exchange: ACB), will distribute the product through its network of more than 1,500 pharmacies across Germany.
Aurora joins a growing list of Canadian licensed producers who have their sights set on the German MMJ market, including British Columbia-based Tilray, Ontario-based Canopy Growth and Toronto-based Cronos Group.
Germany is the first country to cover the cost of medical cannabis through its national health system.
The country is currently experiencing a supply shortage, according to Aurora. And until Germany’s domestic production is capable of meeting local demand, the market will be served by imports.
To sign up for our weekly Canada marijuana business newsletter, click here.