Earlier today, Aurora Cannabis Inc. (TSXV:ACB)(OTC:ACBFF) announced that the company's wholly-owned subsidiary, Pedanios GmbH has passed the first stage of the application process to legally produce medicinal cannabis in Germany.
German's cannabis regulator, The German Federal Institute for Medicines and Medical Products ("BfArM"), has requested Pedanios' participation in second and final stage of the application process. The second stage involves a competitive bid proposal and contract negotiations to cultivate, process, store, package and deliver cannabis for medical purposes in Germany.
Pedanios is Germany's largest importer, exporter, and distributor of medical cannabis, having shipped to more than 1,000 German pharmacies. The company currently relies exclusively on imported medical cannabis products from federally regulated producers in Canada and the Netherlands.
Germany is the first county in the world to cover the cost of medical cannabis, for any therapeutic application approved by a physician, through its health insurance system.
Aurora Cannabis' CEO, Terry Booth
"We are excited to take the next step in this historic tender process, and look forward to working with Pedanios, the country's go-to source for quality medical cannabis and customer service, to provide the German market with locally produced, high quality cannabis."
In early trading Wednesday, shares of Aurora Cannabis are up more than 3.5% on the TSX Venture. The company's OTC Markets listing is trading higher by more than 5%. Year-to-date, shares of Aurora are down nearly 1%.
Learn more about Aurora Cannabis by checking out the company's marijuana stock profile in The Daily Marijuana Observer's Canadian L.P. database.
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