Aurora and Aphria selected to cultivate in Germany

The Canadian Press
April 05, 2019
By The Canadian Press
Aurora Cannabis and Aphria Inc. say they were among the three companies selected by the German government to cultivate and distribute medical cannabis in the European country.

Both companies say the decision by Germany's Federal Institute for Drugs and Medical Devices is provisional and subject to a mandatory 10-day waiting period, which allows unsuccessful bidders to submit a challenge before the final contract is signed.

If finalized, the cannabis produced by both Aurora and Aphria will supply the German medical cannabis market, which is the largest in Europe according to a recent report by Brightfield Group.

Both cannabis companies say the provisional decision awarded them each the maximum number of five of the 13 available lots in the tender, over a period of four years. Berlin-based Denecan received the remainder, according to reports.

Jefferies analyst Owen Bennett said in a note that the decision is positive for Aurora, as it helps to validate the quality of its medical operations and puts the Edmonton-based company in good stead when attempting to enter other markets.

Brightfield Group estimates that Germany's medical cannabis market was worth US$73 million in 2018 and is forecast to grow to US$2.7 billion in 2023.
Grow Opportunity
GET CONNECTED

Stay in-the-know on innovative ways to manage your cannabis business, and grow better. Subscribe to our weekly eNewsletter and be the first to hear what’s new in this fast growing industry.

Add comment


Security code
Refresh

Subscription Centre

 
New Subscription
 
Already a Subscriber
 
Customer Service
 
View Digital Magazine Renew

Most Popular

Latest Events

MJBizConNEXT
Wed Jun 12, 2019
Grower Day
Tue Jun 18, 2019
Cannabis Career Festival
Fri Sep 27, 2019

We are using cookies to give you the best experience on our website. By continuing to use the site, you agree to the use of cookies. To find out more, read our Privacy Policy.