Shares of the most active member of the ETF, Aurora Cannabis Inc. rallied today after plunging 31 percent over the last four market sessions, ending the day up 0.95 percent, closing at $9.55 a share.
The bigger news to come out today was the announcement that the Polish Ministry of Health had granted Aurora Cannabis approval for its first shipment of medical cannabis to Poland. According to the press release, in just a few days, Aurora Deutschland GmbH will ship the products to a pain treatment center and a hospital in Warsaw.
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The permit to export medical marijuana into Poland is a positive milestone for medical patients in Poland. It is believed this is the first time a non-governmental run business has received approval to supply medical marijuana products in the country.
Neil Belot, Chief Global Business Development Officer for Aurora said, “Becoming the first company to supply cannabis to Poland is a validation of Aurora’s ability to do business in international markets with high barriers to entry.”
Under current Polish legislation, physicians can prescribe medical cannabis products to patients who can then access it through registered pharmacies, and in specific cases, medical marijuana is covered under statutory health insurance. So opening the market to Aurora is in itself a milestone move.
Maximilian Weinberg, Head of Business Development, Aurora Europe, had this to say about the permit: “We are thrilled to have successfully navigated the complexities of the Polish regulatory framework, and are proud to become the first company to supply a Polish hospital with medical cannabis. Throughout this process, we’ve established strong relationships with medical professionals, state-owned wholesalers, and local foundations who have played an integral role in achieving this milestone.”
