Benzinga | Sep 30, 2021 09:12AM EDT

Aurora Cannabis Changes Strategy In Uruguay - Rolls Out Its First Medical Cannabis Oil

Canadian cannabis giant Aurora Cannabis Inc. (NASDAQ: ACB) (TSX:ACB) confirmed Wednesday it has rolled out Bidiol, the first medical cannabis oil in Uruguay that is wholly produced domestically. The CBD oil is available in 3% and 10% concentrations and comes in 10ml and 30ml bottles, available in pharmacies across the country

"The launch of Bidiol has been two years in the making and is an integral part of our renewed strategy in Uruguay," Miguel Martin, CEO of Aurora Cannabis stated. "We have prioritized key international markets with the potential to meaningfully expand their patient base. Our efforts include working alongside governments and local partners to do what works best in each market. There isn't a one size fits all strategy -- our approach must be smart and domestically relevant."

The Edmonton-based company also revealed it has transformed its business strategy in Uruguay to concentrate solely on medical cannabis and plans to establish the South American country as its continental center for manufacturing and distribution. Aurora already runs a GMP-certified marijuana processing facility in Uruguay.

CBD oil is authorized by the Ministry of Public Health of Uruguay for the treatment of refractory epilepsy in children and adolescents. The company highlighted it aims to extend its line of CBD oil products in Uruguay in the upcoming months.

More recent news from Aurora:

Is Aurora Cannabis' 'Business Transformation Plan' Yielding Results?

Aurora Cannabis Posts 45% Lower Quarterly Revenue, Citing Pandemic Outbreak

Aurora Cannabis To Close Down Edmonton-Based Facility, Lays Off 8% Of Its Workforce

Will Aurora Become A Global Medical Marijuana Leader? Analyst Opines Ahead Of Q4 Earnings

Price Action

Aurora's shares were trading 2.08% lower at $6.60 per share during Thursday's pre-market session.

Photo: Courtesy of Kimzy Nanney on Unsplash