Shares of Edmonton's Aurora Cannabis (TSX:ACB) (NYSE:ACB) surged 4.3% in premarket trade today. The reason? The company has received approval to supply Poland with medical cannabis.
Poland Medical Cannabis
The move is a welcomed increase for the company that saw its NYSE debut spoiled on Tuesday by a tumbling cannabis sector. Once the stock opened for trading, Aurora shares fell by 15%. On the whole, Aurora finished its first NYSE day down 12%.
Aurora is the first non-government business receiving this approval. It will now begin supplying medical cannabis to Poland in a matter of days.
Aurora Deutschland GmbH will send the first shipment to a pain treatment center and a hospital in Warsaw.
Polish Legislation
Poland is a favorable jurisdiction for medical marijuana. Physicians can prescribe it, and registered pharmacies can dispense it. In some cases, the government funds the treatment and/or it will be covered under health insurance.
Medical cannabis in Poland will now be a significant market for Aurora.
"Becoming the first company to supply cannabis to Poland is validation of Aurora's ability to do business in international markets with high barriers to entry," said Neil Belot, Aurora's Chief Global Business Development Officer.
He furthered:
"This is an important milestone for patient access in Poland, which will provide options for people seeking alternative medications to help manage symptoms of a wide range of medical conditions. Aurora continues to grow its international footprint, which now spans 19 countries on five continents, and puts us in an enviable position to capitalize on our early mover advantage."
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Medical Cannabis in Poland
Aurora is one of the most recognized cannabis brands in the world. It has operations in 19 countries across five continents. The company is a vertically integrated company that covers every basis of the cannabis sector from cultivation to selling, facility engineering, and design to plant breeding and research.
Featured Image: Depositphotos/© gustavofrazao
