Aurora Cannabis has been in the news quite a bit over the past week, and today is no exception. The Canadian cannabis giant announced on Friday that it was chosen by the German government to receive a domestic production license, one of only three companies picked by the European nation.
The bidding process saw almost 80 companies compete among each other to win access to these limited licenses. The selection process saw business submit a concept for domestic German cannabis production, alongside other aspects of the supply chain such as delivery, pricing of goods, facility design, quality, logistics, etc. Out of all tenders submitted, Aurora Cannabis’s concept was ranked the highest by German regulators, a significant achievement for the company.
“We are very proud to have been selected as one of only three companies by the German government, which is a great achievement by our team. Having the highest rated concept is a strong validation of the Aurora Standard cultivation philosophy, as well as our track record in the delivery of safe and high-quality medical cannabis products to the German system,” said Neil Belot, Aurora’s Chief Global Business Development Officer. “We commenced delivering dried cannabis flower from Canada to the German market in 2017, and recently added cannabis extracts to our offerings for German patients. Winning the tender reflects a natural evolution for Aurora, establishing a more prominent local footprint in this important international market with over 82 million people.”
The contract between Aurora and the German government is planned to be signed by April 17th, 2019, with Aurora receiving the maximum number of 5 of the 13 lots sectioned off in the tender. The contract also stipulates that Aurora would have to supply 4,000 kg of cannabis minimum over four years to the German government for distribution.
Dr. Florian Holzapfel of Aurora’s German division added that “Being one of the winners in this tender reflects our ability to work with international governments and establish ourselves as a trusted partner in multiple global jurisdictions. Upon finalization of the allotment we will commence with our project to construct a state-of-the-art cannabis production facility to further service German patients with safe, high-quality cannabis.”
Aurora Cannabis ended the day up 2.8 percent as a result of the good news as the picture looks increasingly optimistic for the Canadian company going forward. Previously, Wall Street’s top cannabis analyst, Vivien Azer of Cowen & Co, had picked Aurora as her top pick within the industry, edging out other larger competitors such as Canopy Growth Corp (TSE: WEED)(NYSE: CGC).
Aurora Cannabis Company Profile
Aurora Cannabis Inc is a Canada-based company engaged in the production and distribution of medical cannabis. The Company 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, home cultivation, wholesale and retail distribution.
The Company’s purpose-built facilities which integrate technologies across all processes are defined by automation and customization. The Company has a funded capacity of more than 500,000 kilograms per year as well as sales and operations in 24 countries worldwide. – Warrior Trading News