Aurora Cannabis (ACB) announced that it has completed its first commercial export of cannabis oil to the United Kingdom (UK) and the product has been successfully dispensed from a pharmacy. Authorities there recently granted the Company approval for its first shipment of medical cannabis into the UK from Canada under its new legal framework that came into effect on November 1, 2018.
Under the new UK framework, specialist doctors can legally issue prescriptions for cannabis-based medicines when they agree that their patients could benefit from this treatment.
“Being one of the first Canadian companies to commercially supply cannabis-based medicines into the UK under the new legal framework reflects Aurora’s ability to do business in international markets that have complex and evolving regulatory systems,” said Neil Belot, Chief Global Business Development Officer. “Aurora continues to grow its international footprint, which now includes the UK, a country with a population of approximately 66 million people. Regardless of the barriers we may be faced with, we are focused on helping patients around the world get access to the medicine they need.”
Dr. Shane Morris, Senior Vice President of Product Development and Regulatory Affairs added, “We are thrilled to have successfully navigated the complexities of the UK’s new regulatory framework to be able to supply high quality, pharmaceutical grade cannabis-based medicines into the UK from one of our EU-GMP certified facilities in Canada.”
The Company is currently enhancing its UK operations to ensure patients there will have access to a range of Aurora cannabis-based medicines when and where needed.
Overall, Wall Street sizes up ACB as a ‘Moderate Buy’ stock, as the bulls edge out the cautious on the chip giant. In the last 3 months, ACB has received 4 bullish ratings versus 1 analyst hedging his bet, and one bear who doubts the company reach its targets. (See ACB’s price targets and analyst ratings on TipRanks)