Aurora Cannabis Inc (TSE: ACB)(NYSE: ACB) announced today that following up from it’s earlier announcement in October that it had acquired a sales license for Health Canada to sell it’s revolutionary, softgel cannabis capsules.
The company has already commenced shipments in the Canadian recreational and medical markets, and expects to begin international exports into Europe and elsewhere sometime in early 2019.
Produced at it’s state-of-the-art Aurora Vie facility in Quebec, Aurora currently produces 1.4 million softgel capsules every week as the company hopes this new product line will become a high-volume, high-margin product with a universal, smoke-free appeal. The Aurora Vie facility is also working in collaboration with the leading softgel manufacturer Capcium Inc., of which Aurora has a 20% ownership in. Canada’s westernmost province, British Columbia, will be the first provincial market in which the new product will debut, followed by the rest of the country in short time.
“Softgels are a high-volume, high-margin product for both the medical and adult-use markets that are in strong demand, and Aurora is one of the few companies making these products available to patients and consumers alike,” said CEO Terry Booth. “There is a strong momentum towards smoke-free, consistent dosage delivery technologies, and our softgels are a very familiar form factor that satisfy patient and consumer needs. We are delighted to have a preferred partnership with Capcium, whose technology is performing above our initial expectations, delivering high volumes of pharma-grade products.”
Aurora plans to launch four separate softgel types, with each available in 30-capsule bottles priced at C$45 each, and are currently believed to be the smallest cannabis capsules available internationally. At the same time, the company also announced the launch of a new vegan, hardshell capsule, which would be released via their subsidiary CanniMed.
Cannabis capsules are becoming an increasingly popular medication among physicians, who are able to better regulate cannabis dosage in pill form as well as give their patients reliable pain relief. Unlike conventional methods such as growing plants domestically, capsules are a much more discreet way to use marijuana for patients, who don’t need to worry about the stigma of vaping or smoking.
“While many people continue to use dried buds for medical symptom relief, there is growing global demand for alternative drug delivery technologies. Through CanniMed and our partnership with Capcium, we are well-positioned to lead in this segment of the Cannabis market,” Booth added in a statement.
Shares of Aurora Cannabis ended the day at 7.52 CAD, down a mere one percentage point, although trading between $7.80 and $7.10 throughout today’s trading session.
Aurora Cannabis Inc Company Profile
Headquartered in Edmonton, Alberta, Canada with funded capacity in excess of 500,000 kg per annum and sales and operations in 21 countries across five continents, Aurora is one of the world’s largest and leading cannabis companies.
Aurora is vertically integrated and horizontally diversified across every key segment of the value chain, from facility engineering and design to cannabis breeding and genetics research, cannabis and hemp production, derivatives, high value-add product development, home cultivation, wholesale and retail distribution. – Aurora