Aurora Cannabis has announced that it completed a medical cannabis supply deal with Mexican pharmaceutical company Farmacias Magistrales, according to the CBC.
Mexico’s federal government has only recently started acting on the Mexican Supreme Court’s ruling to end cannabis prohibition. The court has now ruled several times in favor of the the right to possess cannabis, which mandates legislative action to officially legalize cannabis.
Farmacias Magistrales received the country’s first cannabis import license following that development. Farmacias Magistrales has tens of thousands of retail outlets and operates hundreds of hospitals and pharmacies across Mexico.
Aurora, one of Canada‘s largest licensed cannabis producers, said the partnership between the two companies is exclusive.
CEO Terry Booth said the partnership cements Aurora’s early-mover advantage in the region.
“We look forward to working with Farmacias, and leveraging its strong retail, pharmacy, and hospital networks to provide high-quality, medical grade cannabis to patients in this new and significant market. We will also offer the Mexican government authorities whatever support they deem valuable, based on our insights and experience … in multiple … medical cannabis systems around the world.” — Aurora CEO Terry Booth, in a statement
Aurora shares climbed on the Toronto Stock Exchange after news of the development broke.