From Germany to Canada, Australia to Mexico, the benefits of marijuana are being recognized all over the globe and this trend is just getting started.
One of most significant developments so far this year the legalization of medical marijuana in Germany.
Expect 1+ Million Patients in Germany in the Coming Years
Germany is the largest country (by population) in the European Union and it represents a massive opportunity for marijuana companies. Per the most recent United Nations estimates, the current population of Germany is more than 80.6 million, which is twice the size of California.
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 national health insurance system.
These factors make the German medical marijuana market a very attractive opportunity. Dr. Franjo Grotenhermen, a leading cannabis physician and managing director of the International Association for Cannabinoid Medicines, expects the number of medical marijuana patients in Germany to approach one million in the coming years.
Aurora Firms its Position in Germany
Canadian licensed medical marijuana producers have benefited from the rapidly growing German medical marijuana market since it does not allow for domestic cultivation.
One company capitalizing on this opportunity is Aurora Cannabis (ACB.V) (ACBFF), which acquired Pedanios GmbH in May. Pedanios has been importing, exporting, and distributing medical cannabis into and within the EU since December 2015.
Today, Pedanios GmbH announced a major development after it passed the first stage of the tender application process to become a licensed medical cannabis producer in Germany.
Aurora’s Subsidiary Can Help Secure German Contract
Pedanios is well positioned to provide a very competitive bid for the production contract by leveraging the expertise, resources, genetics, intellectual property, and other competitive advantages possessed by Aurora Cannabis Enterprises Inc., a subsidiary of Aurora Cannabis.
Pedanios is Germany’s largest importer, exporter, and distributor of medical cannabis and has shipped to more than 1,000 German pharmacies, and currently relies exclusively on imported medical cannabis products from federally regulated producers in Canada and the Netherlands.
Future German production is designed to complement the country’s ongoing import of medical cannabis by establishing supply contracts with select domestic producers to support the country’s growing medical market.
credit:420intel.com
