Aurora Sends Its Largest-Ever Shipment of Medical Marijuana Worth 10 Million Canadian Dollars To Israel

Aurora Cannabis Incorporated recently made history by sending its largest-ever shipment of medical marijuana to Israel. The export, worth 10 million Canadian dollars, is also believed to be the largest ever shipment of medical marijuana into the Israeli market. With this record sale, Aurora continues to define the future of the cannabis industry in Canada and worldwide.

Aurora is a leading force in the marijuana sector, with a significant presence in the Canadian market. It’s among the few cannabis companies that remained resilient despite strict regulations on several private marijuana firms in Canada pre-reforms. Even so, following a saturated market after lawmakers removed these restrictions, Aurora set off into the international cannabis market.

Furthermore, after Aurora Cannabis purchased its smaller rival CanniMed Therapeutics, it became the world’s largest cannabis producer. The record deal, which cost Aurora 1.1 billion Canadian dollars, was a significant factor in the firm’s domestic and global success. Without this merger, it’s impossible to say whether Aurora would have survived the bleak preliminary days of cannabis legalization in Canada.

The company recorded approximately 16 million Canadian dollars in medical cannabis sales outside North America last quarter. For this reason, it arguably became the largest marijuana business outside its home continent. Moreover, with the addition of Chitwant Kohli, former senior vice president at the Royal Bank of Canada, to Aurora’s board, the firm’s future seems bright.

Israel is a significant player in the medical cannabis industry, with more than 100,000 registered medical marijuana patients at the end of last year. The number of patients in the country increased by more than 30 percent from 76,000 patients in the previous year. These staggering statistics make the country one of the largest markets for medical marijuana in Europe. Furthermore, with Israel looking to permit adult use soon, there’s no denying its importance in the cannabis space. It would also allow more businesses to venture into marijuana accessories.

With dry-flower accounting for almost 90 percent of approved cannabis treatment in Israel, the country is predominantly a dry-flower market. Consequently, cannabis extracts, which only account for 10 percent of the market, have seen slow progress over the last few years. Still, this only exhibits the amount of medical marijuana that Israeli patients are entitled to receive and not what they have bought.