Aurora Cannabis makes big move overseas

Aurora Cannabis makes big move overseas

The cannabis company signs a major supply agreement with Australia’s MedReleaf

Aurora Cannabis is already known internationally and has a presence in several countries around the world. One of these is Australia, where it holds a 10% stake in MedReleaf Australia, and Aurora is now using that position to build out its operations in the country. It announced this week that it has signed a new agreement with MedReleaf Australia that will see it become the exclusive supplier for the company.

The new agreement will span five years, with MedReleaf to offer Aurora’s MedReleaf, CanniMed and Aurora products. All of those products are EIGMP-certified, and MedReleaf will offer dried flower, oils, soft gels, as well as any new products Aurora releases in the future. The deal was signed without any capital investment on the part of Aurora.

Miguel Martin, CEO of Aurora, said in a press release, “We are pleased to have established a long-term strategic relationship with MedReleaf to exclusively distribute the Aurora, CanniMed and MedReleaf brands in Australia. The team at MedReleaf have created an asset-light, sustainable growth platform in Australia to assist physicians, pharmacists and patients across the country in accessing the high-quality range of Aurora cannabis medicines.”

MedReleaf is a private company, licensed by Australian authorities to operate in the medical cannabis market. It launched its operations in 2016 and, since then, has worked with Aurora to introduce new medical cannabis products to the country. Moving forward, the new agreement will enable that relationship to move to a higher level and will also reinforce MedReleaf’s position as one of the founding members of the Medicinal Cannabis Industry Australia trade group.

Adds MedReleaf CEO Russell Harding, “Australia’s medical cannabis system is well designed, well regulated, and among the fastest-growing in the world. Our strategic supply agreement with Aurora ensures that our patients will have reliable access to cannabis medicines with a worldwide reputation for quality and in accordance with the stringent requirements of Australia’s Therapeutic Goods Administration. To support our companies’ shared objectives in the Australian market, we will focus with diligence and discipline on continuing to expand our patient and prescriber base.”