Canaccord Genuity analyst Neil Maruoka thinks Aurora Cannabis (TSXV:ACB) could become a significant player in the German marijuana market.
On Friday, Aurora Cannabis announced it had acquired Pedanios GmbH, a German company that wholesales medical cannabis to more than 750 pharmacies in the EU.
“Pedanios, with first-mover success in the EU, has proven itself as one of the world’s most trusted and scalable importers, exporters and distributors of wholesale medical cannabis. Patients, physicians and pharmacies across the EU recognize the Pedanios brand as the trusted source for high-quality GMP-certified medical cannabis,” said Aurora CEO Terry Booth. “The Pedanios team share Aurora’s vision, our high standards and our intentions to play a leading role in shaping the future of the global cannabis industry. In addition, because the average market prices are higher in Germany than in Canada, we expect German sales to positively impact our average sales price per gram.”
Maruoka says this deal opens up a whole new market for Aurora.
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