Aurora Cannabis Inc. (TSX: ACB and NYSE: ACB) received European Union Good Manufacturing Practice certification for its third facility in Canada, the company announced Monday.
This certification opens the doors for the Aurora River facility, in Bradford, Ont., to ship medical cannabis to the E.U.
“I congratulate our team on successfully working with regulators and licensing bodies to ensure Aurora’s facilities and products are in accordance with local and international standards,” CEO Terry Booth said in a statement.
Aurora River has a reported cultivation capacity of 28,000 kilograms per year from 17 grow rooms. The EU GMP certification will allow Aurora “to allocate both a greater quantity of dried and extracted product to international markets as well as introduce new products grown and produced in the facility,” according to the press release. The company did not provide specific figures.
Out of Aurora’s 10 Canadian production facilities, three can now ship medical cannabis to the EU. All 10 facilities are built to the EU GMP certification standard, according to the company, but are yet to be certified.
Certification has been given to Aurora’s first production facility in Mountain View County, Aurora Ridge, Aurora River, and its wholly owned European medical cannabis distributor, Aurora Deutschland.
Germany unfreezes Aurora medical cannabis sales
At the end of November 2019 there was a market shakeup when German pharmacies announced they were freezing the sale of all Aurora Cannabis products. This was to give the country time to review Aurora’s method of estimating product shelf life, reported Marijuana Business Daily.
On Monday Aurora announced it had passed muster and would be resuming its German sales.
“Aurora will fulfill existing sales orders from inventory currently held in Germany, ensuring local patients will have immediate access to medicine from their preferred pharmacy,” the company said in a press release.
Company stock took a slight boost on Monday following the news, inching from $1.93 per share to $2.12 at time of publication. However, Yahoo Finance summed up the stock’s progress, with “Aurora Cannabis (NYSE: ACB) is currently one of the worst-performing Canadian pot stocks.”
Top photo: An Aurora Cannabis employee sorts infused gummies at the Aurora Air facility. Photo courtesy of Aurora Cannabis.