Canada’s cultivator Aurora Cannabis Inc (TSE: ACB) (NASDAQ: ACB) has now established its first German medical marijuana brand. The company has named it IndiMed.
Its inaugural product, Island Sweet Skunk sativa flower with 20 per cent THC, is set to become available for German patients on Monday. Other cultivators who grow this type of strain say that it is known for its grapefruit undertones. It has a small quantity of CBD, under 1 per cent.
“Aurora is proud to deliver to the rapidly growing German market our first domestically produced medical cannabis product,” Aurora Europe’s Interim President, Michael Simon, said, “a significant step forward since Germany’s move to decriminalize cannabis [in April 2024].”
The grower’s European subsidiary based in Berlin, Aurora Europe GmbH, is one of only three companies licensed to cultivate medical cannabis in Germany. The local operator Demecan GmbH and the Tilray Brands Inc (TSE: TLRY) (NASDAQ: TLRY) subsidiary Aphria are the other two.
Aurora’s EU-GMP-certified German facility in Leuna has been in operation for about four years now and churns out around 1,000 kilograms of medical flower per annum. Aurora received enhanced cultivation and research licenses at this grow complex last summer. Medical bud has been legal nationwide since 2017.
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Medical cannabis sales set to skyrocket in Germany
Estimates have indicated that the nation generated over US$450 million from medical cannabis last year.
That number could ascend higher than US$1 billion by the end of the decade, according to “The German Cannabis Report” released by the British analyst Prohibition Partners last fall.
In Q3 last year, medical cannabinoid merchandise sales rose by 30 per cent year-over-year. This indicates that robust growth is on the horizon for the industry niche.
The number of medical marijuana patients in the country is expected to rise immensely too. Within the next few years, millions more citizens could potentially turn to the plant for help with various conditions. The decriminalization of recreational cannabis in Germany has made accessing medical pot a less stringent process for Germans than it was previously.
High Tide Inc. (CVE: HITI) (NASDAQ: HITI) and Organigram Holdings Inc. (TSE: OGI) (NASDAQ: OGI) are additional Canadian companies that have been putting their dollars into the nation’s cannabis sector. About half of the medical Mary Jane imported into Germany comes from Canada.
rowan@mugglehead.com
