Aurora Introduces Medical Cannabis Pastilles for Patient Relief in Australia

Rhea-AI Summary

Aurora Cannabis Inc. and MedReleaf Australia have launched medical cannabis pastilles in Australia, offering greater choice for patients. The pastilles come in three formats, including THC, CBD, and balanced options. MedReleaf Australia aims to provide consistent and high-quality products to Australian patients, with plans for future innovations under the Aurora and IndiMed brands.

Insights

Market Research Analyst

The introduction of medical cannabis pastilles by Aurora Cannabis Inc., in partnership with MedReleaf Australia, signifies a strategic move to diversify product offerings within the Australian medical cannabis market. This innovation is likely to capture the attention of patients seeking convenient and discreet forms of medication, potentially expanding the customer base. The launch also reflects the company's commitment to product differentiation, which is crucial in a competitive market landscape where brand loyalty and product uniqueness can drive market share.

Considering Australia's position as a major legal medical cannabis market, the new product line could contribute to Aurora's revenue growth and market penetration. However, it is essential to monitor consumer feedback and adoption rates, as these will be indicative of the product's long-term success and impact on the company's financial performance.

Medical Research Analyst

The release of medical cannabis pastilles is indicative of the industry's shift towards patient-centric product development. Pastilles offer a precise dosage, which is critical for ensuring consistent therapeutic effects and patient safety. This is particularly relevant for patients who may be sensitive to dosage variations or those who require a stable cannabinoid concentration for their treatment regimen.

Furthermore, the availability of different cannabinoid profiles (THC, CBD and balanced THC/CBD) caters to a diverse range of medical conditions, allowing physicians to tailor treatments more effectively. The long-term impact of such innovations on patient outcomes and healthcare practices in the field of medical cannabis will be an area of interest for both medical professionals and investors.

Financial Analyst

From a financial perspective, the introduction of a novel product such as cannabis pastilles by Aurora Cannabis Inc. may act as a catalyst for growth in the Australian subsidiary's revenue streams. The product's alignment with consumer trends towards discreet and easy-to-use medical cannabis options could translate into increased sales volumes. It is also worth noting that the expansion of product lines, such as the planned increase in pack size and potency options, suggests a strategy to cater to varying consumer preferences and price points, potentially leading to market share gains.

Investors should, however, remain cognizant of the costs associated with product development and marketing, as well as regulatory compliance in the Australian market. These factors will influence the profitability margins and should be weighed against the projected revenue from the new product line.

                                                                        NASDAQ | TSX: ACB

Canada's Leading Medical Cannabis Company and MedReleaf Australia Launch Innovative Product to Offer Greater Choice for Patients

EDMONTON, AB, March 4, 2024 /PRNewswire/ - Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB) – The Canadian based leading global medical cannabis company, together with subsidiary company, MedReleaf Australia, have announced today the availability of medical cannabis pastilles for doctors to prescribe to patients in Australia. The novel product is produced by Aurora and distributed by MedReleaf Australia, a leading distributor of medical cannabis products with the number two position in the Australian market.

"Australia is the largest nationally legal medical market globally, and as a long-standing supplier to MedReleaf Australia and recently announced parent company, we're eager to support the continued growth and development of the market," said Andre Jerome, Executive Vice President of Global Business Development, Aurora. "The introduction of innovative and differentiated products, such as pastilles, and planned upcoming innovation, will provide Australian doctors expanded options for patient care and enhance patient access to the premium medical cannabis they seek," continued Jerome.

The 30-pack pastilles are available now in three formats including:

• Aurora THC Pastilles in Watermelon flavour (5mg THC)
• Aurora CBD Pastilles in Peach flavour (10mg CBD)
• Aurora Balanced Pastilles in Yuzu Lemon flavour (5mg THC, 10mg CBD)

MedReleaf Australia is committed to providing Australian patients with a consistent and reliable supply of superior quality products, including dried flower, resin cartridges and oils, and now pastilles.  The new pastille products are available under the Aurora brand, exclusive to MedReleaf Australia. This initial pastille launch will soon be followed by additional options in terms of pack size and potency, as well as future pastille offerings under the IndiMed brand.

"As a company committed to patients and expanding access to medical cannabis under the Australian program, bringing novel innovation to market clearly underscores our status as an industry frontrunner in Australia," said Kristin Viccars, Managing Director at MedReleaf Australia. "Our pre-dosed pastilles broaden our range of high quality, medical cannabis offerings and cater to all patient groups who may find the taste of oil or flower undesirable, providing a discrete, portable and cost effective alternative for those seeking medical cannabis as part of their regime," said Viccars.

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

About Aurora Cannabis 

Aurora is opening the world to cannabis, serving both the medical and consumer markets across Canada, Europe, Australia and South America. 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, Tasty's, Being and Greybeard. Medical cannabis brands include MedReleaf, CanniMed, Aurora and Whistler Medical Marijuana Co, as well as international brands, Pedanios, Bidiol, IndiMed and CraftPlant. 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, wellness and adult recreational markets wherever they are launched. Learn more at www.auroramj.com and follow us on X and LinkedIn. 

Aurora's Common Shares trade on the NASDAQ and TSX under the symbol "ACB" and is a constituent of the S&P/TSX Composite Index. 

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 licenses 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 combined 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 market, built to service the Australian and New Zealand medical industries including doctors, pharmacists, and patients. 

Forward Looking Information  

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 statements regarding the Company's partnership with Script Assist, including with respect to the availability of the Company's medical cannabis products for patients in the UK and the Company's continued commitment to further improve the UK medical cannabis landscape. 

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 (with respect to the Transaction and more generally with respect to future acquisitions), 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 from dated June 14, 2023 (the "AIF") and filed with Canadian securities regulators available on the Company's issuer profile on SEDAR+ at www.sedarplus.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 new product has Aurora Cannabis Inc. and MedReleaf Australia launched?

Aurora Cannabis Inc. and MedReleaf Australia have launched medical cannabis pastilles in Australia.

What are the three formats in which the pastilles are available?

The pastilles are available in THC, CBD, and balanced options.

What is MedReleaf Australia's goal regarding the supply of medical cannabis products?

MedReleaf Australia aims to provide Australian patients with a consistent and reliable supply of high-quality medical cannabis products.

Under which brand are the new pastille products available exclusively?

The new pastille products are available under the Aurora brand, exclusive to MedReleaf Australia.

Who is the Managing Director at MedReleaf Australia?

Kristin Viccars is the Managing Director at MedReleaf Australia.