Aurora Cannabis’ (NASDAQ: ACB) (TSX: ACB) bet on selling prescription cannabis in places like Germany and Australia is returning results, with third-quarter overseas sales more than doubling versus last year.
The Canadian cannabis producer posted record profits and revenue in its latest quarter, driven by surging international medical marijuana sales that now make up most of its business. The results validate CEO Miguel Martin’s strategy of prioritizing pharmaceutical-style markets in Europe and the southern hemisphere over recreational sales, even as some competitors chase both segments.
“These markets, because they’re pharmaceutical products, allow you to import medical cannabis like you would any other medication,” Martin told Green Market Report in an interview on Wednesday.
Aurora’s medical marijuana sales hit C$68.1 million last quarter, up 51% from a year ago. International medical sales grew 112%, now comprising…
