Aurora Cannabis to supply medical pot to Mexico

Aurora Cannabis says it will supply medical cannabis to Mexico through a partnership with pharmaceutical manufacturer and distributor Farmacias Magistrales.

Company has made partnership with pharmaceutical manufacturer Farmacias Magistrales

Cannabis seedlings are shown at an Aurora Cannabis facility, Friday, November 24, 2017 in Montreal. Aurora Cannabis is striking a distribution deal to supply medical pot to Mexico. (Ryan Remiorz/Canadian Press)

Aurora Cannabis says it will supply medical cannabis to Mexico through a partnership with pharmaceutical manufacturer and distributor Farmacias Magistrales.

Farmacias recently got the green light to import cannabis, which Aurora says is the first and only import license granted by federal Mexican authorities to date.

Aurora's chief executive Terry Booth says the exclusive partnership expands the cannabis grower's early mover advantage in Latin America.

The Edmonton-headquartered pot producer says Farmacias has a reach of roughly 80,000 retail points, and 500 pharmacies and hospitals across Mexico.

It adds that Farmacias has also received licences from Mexico's Federal Commission for Protection Against Health Risks to manufacture and distribute products with CBD and THC.

Shares of Aurora rose as much as 10 per cent to hit $7.82 during Thursday trading on the Toronto Stock Exchange.