Last week, Shoppers Drug Mart entered a supply agreement with Aurora Cannabis (ACB)(ACBFF) for medical cannabis. According to the press release issued by Aurora Cannabis, its product will be sold online, since the current Canadian regulations do not allow for the retail sale of medical cannabis.
Other developments in Aurora Cannabis
On February 22, 2018, Aurora Cannabis announced the appointment of André Jérôme to the newly created position of senior vice president of business integration. Last week, the company announced two more new appointments including Shane Morris as the vice president of product development and regulatory affairs and Kelly Narine as the vice president of research.
With these two new appointments, the company stated that it intends to develop novel products “backed by rigorous scientific research/testing,” which will generate new revenue streams as well as higher margins.
In its press release, Aurora Cannabis stated that both Morris and Narine will work with CanniMed’s team. As for the status of this acquisition, last week the company also received the final regulatory approval from the Competition Bureau of Canada to acquire CanniMed. The above chart shows what the CanniMed acquisition will bring to Aurora Cannabis.