Aurora Cannabis Exec Says Company Well-Positioned In Germany, Will Push For Expansion Of Medical Market

Several weeks ago Germany became the third country in Europe to legalize adult-use marijuana after Malta and Luxembourg. Being the second most populous country on the continent with a population of about 84 million, the market potential is huge. Some experts predict the reform could lead to millions of medical marijuana patients, especially since under the approved law, marijuana can be prescribed as regular prescription medication, which creates significant benefits for medical marijuana patients. Taking all this into account it's no wonder that soon after the Budenstag's vote on Feb.23, marijuana stocks jumped. Several cannabis giants told Benzinga what this means for cannabis in Europe and shared their projections and expectations.

We also wanted to hear from one of the largest cannabis companies in the world, Aurora Cannabis ACB. Based in Canada, Aurora Cannabis serves people around the globe, with its operations spanning 25 countries across five continents. Its market cap is at $166.89 million. The company operates both medical and recreational cannabis as well as in the hemp-derived CBD sector. In recent years, its focus has been on the medical marijuana market in Europe. To learn more about its plans in Germany, Benzinga talked with Dirk Heitepriem, Aurora's vice president of external affairs.

See Also: All You Need To Know About The German Marijuana Market: Changes, Size And Leading Players

BZ: What do you think about Germany’s cannabis legalization and how quickly do you think the market will develop?

Heitepriem: Aurora applauds the government for its outward declaration and commitment to the legalization of cannabis for recreational use. Aurora has always stated our belief that adult-use markets evolve from medical-first markets and Germany is no exception.

While it will probably take years for the German recreation market to become a reality, Aurora is well poised to be successful when the time comes for this significant market to open, leveraging our global and domestic experience.

Vital Part Of The Industry's Development

What does Germany’s reform mean for Aurora? What’s next for the company there?

Germany's reform has a significant impact on us as a company which is an important element for medical patients in Germany. The de-scheduling of cannabis not being a narcotic anymore allows more patients access to cannabis. With our production facility, ‘Leuna', we have been a vital part of the development of the industry. We hope to grow our patient outreach and provide more access to medical cannabis.

Aurora will advocate for the preservation and further expansion of the medical market. This is mandatory due to the different needs of patients and consumers. Patients need close medical care and reliable cost reimbursement.

Legislation for adult consumers will also bring positive changes to the medical cannabis framework. As one of the leading providers of medical cannabis in Germany, Aurora is eager for that to happen.

What do you think will happen next in cannabis across Europe after Germany’s big move? 

Germany's cannabis reform could become the blueprint for other EU members to follow. This development allows more flexibility regarding what is possible in the market.

Significant Advantage 

Do you think many cannabis companies will jump at the opportunity to expand across the EU? 

Excellent quality and high availability are what we stand for at Aurora and this brings a lot of opportunities for companies to take medical cannabis extremely seriously like we do, and to play a significant role in the market.

We believe Aurora's position as one of only three companies with a medical domestic production license and our current position as one of the leaders in the dry flower segment in Europe will give us a significant advantage and allow us a "seat at the table" as the German consumer market regulations are developed.

Price Action 

Aurora Cannabis shares traded 3.92% higher at $3.18 per share at the time of this publication late Friday afternoon.

Related Links: Aurora Cannabis Bounces Back: Debt Paid, Growth Ahead

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