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Canadian medical marijuana giant Aurora Cannabis Inc. (NASDAQ:ACB) (TSX:ACB) partnered with Cogent International Manufacturing Ltd., a subsidiary of wellness innovator Vectura Fertin Pharma Inc. Under this commercial collaboration, Cogent will initially launch its newly developed CBD lozenge on Aurora's Canadian medical marijuana patient platform, providing access to patient feedback that will be used to validate the product proposition and patient responses while building real-world patient data for future analysis.
“We are excited about this commercial collaboration that will allow Aurora to leverage its industry-leading patient platform in Canada to support advancements in medical cannabis, as well as to provide our patients with access to Vectura Fertin Pharma’s new CBD lozenge,” stated Miguel Martin, CEO of Aurora. “As a global leader in the manufacturing of pharmaceutical-grade medical cannabis, we are pleased to see increased interest in the possibilities of medical cannabis as part of healthcare options made available to Canadians.”
The news follows the company's two licenses granted by the German Federal Institute for Drugs and Medical Devices (BfArM) under Germany’s Medical Cannabis Act (MedCanG). The permits granted the company continued domestic cultivation, which has been underway for two years.
Read Also: Medical Marijuana Giant Aurora Will Soon Report Earnings, Here’s What Investors Need To Know
Following the launch of the CBD lozenge, Aurora and Cogent intend to pursue opportunities for the potential commercialization of other Vectura Fertin Pharma medical marijuana products in Canada.
The initial term of the agreement is set to 24 months, with a target of launching CBD-containing products on Aurora’s Canadian medical cannabis marketplace, starting with the CBD lozenge.
The products will be manufactured, packaged, and labeled by Cogent for sale and distribution by Aurora through its leading direct-to-patient e-commerce sales channel, requiring minimal additional capital investment by Aurora. The expected launch of the first SKU in the market is targeted for later in 2024.
“At Vectura Fertin Pharma, we are committed to building a pipeline of innovation, based on scientific rigor, to improve unmet medical and health needs,” said Michael Kunst, CEO of Vectura Fertin Pharma. “We are delighted to be working with the Aurora team who share our high standards for safety and quality, and our strong focus on improving people’s lives. Through this strategic collaboration, the Aurora platform will enable us to bring our new CBD lozenge, as prescribed by a healthcare professional, to the largest patient base in Canada, and to both study its impact and validate the product proposition through the generation of real-world patient data.”
Price Action
Aurora Cannabis shares traded 0.81% higher at $6.20 per share at the time of writing Thursday morning.
Read Next:
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Image: 7raysmarketing from Pixabay
