Aurora Cannabis (TSX: ACB) (NYSE: ACB) announced that the company expanded its exposure to the international market to that of Ireland. The company recently had one of its oil products approved for import into the European country.
Ireland has recently implemented a new Medical Cannabis Access Program (MCAP) . Which should last five years following a law enacted by the Minister of Health in June 2019.
So, the authorization to market cannabis for medical purposes is currently not available for a set of medical conditions. Including spasticity associated with multiple sclerosis, nausea associated with chemotherapy and severe epilepsy.
In fact, Aurora’s High CBD Oil Drops is the second product permissible for import, prescription, and supply under the new law. Following Tilray approval last summer. Tilray Inc also, shipped an undisclosed quantity of cannabis oil to Ireland for the MCAP program in early July. After initial approval of the program by the Minister of Health.
Aurora has not indicated when the first shipment of CBD oil shall be shipped to the European nation, nor what quantities should be exported.