Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB) has partnered with Herbarium, a herbal medicine company in Brazil that is set to expand its CBD portfolio in the country.
The cannabis company announced the deal on Tuesday, where the first product to be launched is a full spectrum, 3 per cent CBD oil under the Herbarium brand. Under the direction of medical doctors, patients can access CBD oil in Brazil.
The oil is produced at Aurora’s production facility in Uruguay which is one of the only GMP-certified processing facilities in the country. Aurora currently supplies its cannabis products to 13 countries.
“We are proud to continue our international expansion and bring quality CBD products to Brazilians alongside our partner, Herbarium, a trusted brand in the market,” said Andre Jerome, EVP of Global Business Development at Aurora Cannabis.
“Brazil has strong growth potential, and we look forward to leveraging our leadership in the market to further unlock key opportunities in South America.”
Currently, Brazil allows the sale and production of cannabis but companies must import the primary ingredients.
Last March, a Brazilian appeals court agreed to rule on whether firms and farmers can plant cannabis which could lead to lower prices.
Other companies operating in Brazil include Clever Leaves Holdings Inc. (NASDAQ: CLVR, CLVRW) which obtained GMP certification from authorities last May.