Aurora and MedReleaf Australia Launch IndiMed Tempo 26, Further Strengthening Product Offerings for Medical Cannabis Patients

Rhea-AI Summary

Aurora Cannabis (NASDAQ: ACB) and MedReleaf Australia have launched IndiMed Tempo 26, a new line of higher THC dried cannabis products for medical patients under the MedReleaf Concession Scheme (MCS). This initiative aims to enhance patient choice and accessibility to medical cannabis in Australia. Tempo 26 expands the product offerings available to doctors, allowing for more flexible prescriptions. The MCS provides discounted products for patients with certain concession cards, making it easier for those facing serious health conditions to access necessary treatments. Aurora holds a 10% stake in MedReleaf Australia, which is committed to high-quality cannabis cultivation.

Positive

• Launch of IndiMed Tempo 26, expanding product range for medical cannabis patients.
• Enhanced patient access through the MedReleaf Concession Scheme with compassionate pricing.
• High-quality products cultivated in GMP accredited facilities, indicating commitment to quality.

Negative

• None.

Available through MedReleaf's Concession Scheme, doctors and patients will have more
freedom in choosing their cannabis medication

EDMONTON, AB, April 12, 2023 /PRNewswire/ - Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB), the Canadian company opening the world to cannabis, and MedReleaf Australia today announced the launch of IndiMed Tempo 26, a range of new higher THC dried cannabis products for qualified patients under the MedReleaf Concession Scheme (MCS). Tempo 26 will add to the portfolio of products available, giving doctors the ability to prescribe from a wider range of options for medical cannabis patients.

"We are proud to further expand the variety of high-quality medical cannabis products that Australian patients can access through the MedReleaf Concession Scheme, and with the addition of Tempo 26, doctors and patients now have more control and choice about their medical cannabis treatment than ever before," says Miguel Martin, CEO of Aurora Cannabis. "We are strongly committed to our patient-first approach to cannabis and ensuring access to medical patients, in Australia, and around the world."

The MCS was developed by MedReleaf Australia and Aurora to provide high-quality products and enhance patient access to medical cannabis, which is not covered by the Pharmaceutical Benefits Scheme (PBS). Through the MCS, patients can access compassionate pricing, specifically for those with Pensioner Concession Cards, Commonwealth Seniors Health Cards, Health Care Cards, and Veterans Cards (DVA).    

"Through the investment of Aurora and MedReleaf Australia, we have been able to provide heavily discounted products via our MedReleaf Concession Scheme, which widens the choice for prescriptions and significantly improves access for disadvantaged Australian patients struggling with debilitating health conditions," says Russell Harding, MedReleaf CEO. "These products are cultivated and manufactured in Aurora's GMP accredited facilities and are made available for doctors to prescribe via the TGA's Special Access Scheme."

Aurora currently holds a 10% ownership stake in MedReleaf Australia, a fully licensed, private company. Together, they provide Australian patients with several innovative, Aurora-branded products, including dried flower, oils, soft gels, and resin cartridges.

For further information about the MCS, doctors and health care professionals can contact MedReleaf's clinical support team or visit their website: www.medreleafaustralia.com.au.

About Aurora

Aurora is opening the world to cannabis, serving both the medical and consumer markets. Headquartered in Edmonton, Alberta, Aurora is a pioneer in global cannabis, dedicated to helping people improve their lives. The Company's adult-use brand portfolio includes Aurora Drift, San Rafael '71, Daily Special, Whistler, Being and Greybeard, as well as CBD brands, Reliva and KG7. Medical cannabis brands include MedReleaf, CanniMed, Aurora and Whistler Medical Marijuana Co. Aurora also has a controlling interest in Bevo Farms Ltd., North America's leading supplier of propagated agricultural plants. Driven by science and innovation, and with a focus on high-quality cannabis products, Aurora's brands continue to break through as industry leaders in the medical, performance, wellness and adult recreational markets wherever they are launched. Learn more at www.auroramj.com and follow us on Twitter and LinkedIn.

Aurora's common shares trade on the NASDAQ and TSX under the symbol "ACB".

About MedReleaf Australia

MedReleaf Australia is a private company established in 2016. MedReleaf is licensed by the Australian Federal Government's Office of Drug Control (ODC) to cultivate and manufacture medical cannabis. MedReleaf also has licences to import, export and wholesale medical cannabis. Its wholly owned subsidiary, MedReleaf NZ, also has a Medicinal Cannabis Supply Licence issued by the New Zealand Ministry of Health.

MedReleaf Australia is backed by more than 50 years of pharmaceutical and healthcare expertise, is driven by Research and Development, and has an exclusive strategic partnership with Canada's Aurora Cannabis Enterprises.

An asset-lean distinct business positioned to take advantage of a rapidly growing markets built to service the Australian and New Zealand medical industries including doctors, pharmacists, and patients.

Forward Looking Statements

This news release includes statements containing certain "forward-looking information" within the meaning of applicable securities law ("forward-looking statements"). Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements made in this news release include, but are not limited to, statements regarding the launch of new and innovative products to the Australian market through partnership with MedReleaf Australia, leadership in the Australian market through that partnership, and strategic international growth plans, including a commitment to the Australian market.              .  

These forward-looking statements are only predictions. Forward looking information or statements contained in this news release have been developed based on assumptions management considers to be reasonable.  Material factors or assumptions involved in developing forward-looking statements include, without limitation, publicly available information from governmental sources as well as from market research and industry analysis and on assumptions based on data and knowledge of this industry which the Company believes to be reasonable. Forward-looking statements are subject to a variety of risks, uncertainties and other factors that management believes to be relevant and reasonable in the circumstances could cause actual events, results, level of activity, performance, prospects, opportunities or achievements to differ materially from those projected in the forward-looking statements. These risks include, but are not limited to, the ability to retain key personnel, the ability to continue investing in infrastructure to support growth, the ability to obtain financing on acceptable terms, the continued quality of our products, customer experience and retention, the development of third party government and non-government consumer  sales channels, management's estimates of consumer demand in Canada and in jurisdictions where the Company exports, expectations of future results and expenses, the risk of successful integration of acquired business and operations, management's estimation that SG&A will grow only in proportion of revenue growth, the ability to expand and maintain distribution capabilities, the impact of competition, the general impact of financial market conditions, the yield from cannabis growing operations, product demand, changes in prices of required commodities, competition, and the possibility for changes in laws, rules, and regulations in the industry, epidemics, pandemics or other public health crises, including the current outbreak of COVID-19, and other risks, uncertainties and factors set out under the heading "Risk Factors" in the Company's annual information form dated September 20, 2022 (the "AIF") and filed with Canadian securities regulators available on the Company's issuer profile on SEDAR at www.sedar.com and filed with and available on the SEC's website at www.sec.gov.  The Company cautions that the list of risks, uncertainties and other factors described in the AIF is not exhaustive and other factors could also adversely affect its results. Readers are urged to consider the risks, uncertainties and assumptions carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such information. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law. 

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SOURCE Aurora Cannabis Inc.

FAQ

What is the significance of the IndiMed Tempo 26 launch for ACB?

The launch of IndiMed Tempo 26 enhances Aurora Cannabis's product offerings, allowing for more diverse and higher THC options for medical cannabis patients, thereby potentially increasing market share in Australia.

How does the MedReleaf Concession Scheme benefit patients?

The MedReleaf Concession Scheme provides discounted medical cannabis products for patients holding specific concession cards, improving access for disadvantaged individuals.

What is Aurora Cannabis's stake in MedReleaf Australia?

Aurora Cannabis owns a 10% stake in MedReleaf Australia, which allows Aurora to expand its presence in the Australian medical cannabis market.

When was the IndiMed Tempo 26 launched?

The IndiMed Tempo 26 was launched on April 12, 2023.

How is the quality of products ensured under this new range?

Products in the IndiMed Tempo 26 range are cultivated and manufactured in Aurora's GMP accredited facilities, ensuring high quality.