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Tuesday, May 30, 2023
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.

Cannabis

Aurora Cannabis expands Australian portfolio with new high THC product

Patients registered under MedReleaf Concession Scheme can then access the new high-THC product Tempo 26

Aurora Cannabis expands Australian portfolio, launches new high THC cannabis brand
Photo via Aurora

Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB) has expanded its Australian portfolio of medical cannabis products and launched a new high-THC flower to be used by patients of MedReleaf Australia.

Aurora announced the partnership with the private firm MedReleaf Australia –Aurora has a 10 per cent stake– where Aurora will manufacture the products at its facilities and make them available for doctors to prescribe via the TGA’s Special Access Scheme (SAS).

Patients registered under MedReleaf Concession Scheme can then access the new high-THC product Tempo 26.

“We are proud to further expand the variety of high-quality medical cannabis products that Australian patients can access through the MedReleaf Concession Scheme, and with the addition of Tempo 26, doctors and patients now have more control and choice about their medical cannabis treatment than ever before,” Aurora CEO Miguel Martin said.

Under the SAS, health practitioners can prescribe unapproved products under drug regulations, including cannabis. MedReleaf Australia and Aurora collaborated to create the MCS with the goal of improving patient access to high-quality medical cannabis products, which are not included in the Pharmaceutical Benefits Scheme (PBS).

The program offers compassionate pricing to patients, particularly those with ‘Pensioner Concession Cards, Commonwealth Seniors Health Cards, Health Care Cards and Veterans Cards (DVA).

Read more: Aurora medical sales reach $36.6M accounting for 72% of Q4 net revenue

Read more: Aurora acquires one of the largest North American vegetable producers

“Through the investment of Aurora and MedReleaf Australia, we have been able to provide heavily discounted products via our MedReleaf Concession Scheme, which widens the choice for prescriptions and significantly improves access for disadvantaged Australian patients struggling with debilitating health conditions,” MedReleaf CEO Russel Harding said.

MedLeaf Australia was established in 2016 and is licensed by the Australian Federal Government’s Office of Drug Control (ODC) to cultivate and manufacture medical cannabis.

MedReleaf also has licences to import, export and wholesale medical cannabis. Its wholly owned subsidiary, MedReleaf NZ, also has a Medicinal Cannabis Supply Licence issued by the New Zealand Ministry of Health.

Aurora stock went up on Wednesday by 0.57 per cent to $0.88 on the Toronto Stock Exchange.

 

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