Business

Aurora receives approval for cannabis products in Ireland

Aurora Cannabis, a Canadian cannabis company, is going to begin its business in Ireland. One of its cannabis oil products received approval for the country's new access program (MCAP) to medical cannabis. The Aurora Cannabis share reacted pre-market with a price increase of a good 3%. Cannabis companies like Veritas Farms Inc. (OTC: VFRM) also show that the industry can still thrive.

The Canadian cannabis company, Aurora Cannabis, reported a successful entry for its cannabis in Ireland’s markets.

According to the company, one of its cannabis oil products received approval for the country’s new access program (MCAP) to medical cannabis.

In order to find more on this subject, one potentially useful cannabis investing tool is Hemp.im app and its companion marijuana news website.

Aurora’s project for cannabis in Ireland

Aurora’s drops have been approved by the Irish authorities and included in a regulatory plan by the Irish Minister of Health to allow import, prescription, and delivery.

This is one of only two approved products. However, Dr. Shane Morris, Chief Product Officer, is satisfied.

“Aurora is delighted to be able to help patients in Ireland seeking EU-GMP (Good Manufacturing Practice) pharmaceutical grade certified medical cannabis in Ireland.

We are very proud that our medical cannabis products are one of the first approved under MCAP,” Morris added.

“The company looks forward to the approval of higher-quality medicines to allow more patients to benefit from cannabis in Ireland.”

“We will continue to work closely with all stakeholders and government agencies to facilitate further availability”.

Aurora Cannabis reported a successful entry into the market of medical cannabis in Ireland. (Source)

Cannabis stocks keep fluctuating

The Aurora Cannabis stock reacted pre-market with a large 3% price increase.

After the opening of the Toronto Home Exchange, however, Aurora Cannabis shares plummeted by more than 2%.

The growth rates of companies specializing in the production and sale of products containing cannabidiol are taking on almost unbelievable dimensions.

North American companies are capitalizing on CBD

Companies like Veritas Farms Inc. (OTC: VFRM), a North American cannabis company founded in 2015, have capitalized on consumer interest in CBD.

In Q3 2019, Veritas Farms had a record revenue increase of 165%, up to $1,215,810, compared to $459,329 in Q3 2018.

Moreover, the company’s gross profit increased by a staggering 468% compared to the same period of the previous year, and amounted to $495,058.

Additionally, total inventory was up 223% to $5,643,800, compared to $1,746,080 in Q3 2018.

Will Ireland include CBD-based products?

Veritas Farms Inc. has capitalized on consumer interest in CBD. (Source)

Veritas Farms Inc. is a vertically integrated agribusiness, which focuses on the production and distribution of high-quality full-spectrum hemp oil products with naturally occurring cannabinoids.

Currently, the company produces nine categories of CBD-based products, among which are lotions, tinctures, vegan capsules and pet products.

Veritas Farms won a second-place award at the cannabis event ERCM for their new line of pet products. This took place in Cape Coral, Florida, at the beginning of November.

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(Featured image by Diogo Palhais via Unsplash)

DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Hemp.im, its management, staff or its associates. Please review our disclaimer for more information.

This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.

First published in DerAktionar, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Hemp.im assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Hemp.im is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.

Arturo Garcia

Arturo Garcia started out as a political writer for a local newspaper in Peru, before covering big-league sports for national broadsheets. Eventually he began writing about innovative tech and business trends, which let him travel all over North and South America. Currently he is exploring the world of Bitcoin and cannabis, two hot commodities which he believes are poised to change history.

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