Aurora Cannabis (TSE: ACB) and its brass is practicing its “Grazie.” The company has been awarded a public tender in Italy to be that country’s only supplier of medical cannabis in a deal that is expected to officially be signed this September. Aurora was given the contract after beating out four other competitors.
Through the arrangement, Aurora will supply three lots of medical cannabis to Italy, one of the strictest marijuana countries in the world. The agreement builds on one that has been in place for the past 15 months and which was approved as none of the other four contenders was able to meet the stringent Italian marijuana requirements.
Aurora Chief Global Business Development Officer Neil Belot said after the announcement was made, “We’re committed to building a successful, long-term medical cannabis market in Italy. We want to continue to build our connection with patients and pharmacies in the Italian market, who have come to know and appreciate our products over most of the past two years. I’m extremely proud of our team. This win reflects our ability to navigate complex international regulations and work with governments around the world to establish ourselves as a trusted partner.”
The arrangement will see Aurora supply at least 400kg of medical cannabis over a two-year period, which is the length of the contract. The cannabis will be supplied by the company’s Canadian facilities and imported into Italy via Aurora’s European arm, Aurora Deutschland GmbH. The supply will be purchased by Italy’s Ministry of Defense, through its Agenzia Industrie Difesa (the Defense Industry Agency) arm and will subsequently be distributed to local pharmacies for dispensing.
The managing director of Aurora Deutschland GmbH, Axel Gille, adds, “The well-being of our patients is our top priority and we’re dedicated to ensuring they have access to a consistent supply of safe, high-quality medical cannabis. We look forward to expanding our presence in Italy and continuing to work with other international regulators to ensure patients around the world have access to our high-quality medical cannabis.”