Aurora buys Canada’s top cannabis lab for CA$112M

Aurora Cannabis is constant its aggressive shopping for spree, snapping up what one analyst referred to as the “granddaddy of cannabis science in Canada,” Anandia Laboratories.

Aurora agreed to purchase the lab in an all-stock deal value 115 million Canadian dollars ($88 million).

So far this yr, Aurora’s voracious shopping for spree has included its CA$1.2 billion buy of CanniMed Therapeutics and an settlement to purchase MedReleaf for CA$three.2 billion.

Anandia is considered one of Canada’s 39 licensed laboratories.

The Vancouver, British Columbia, firm says its testing providers will function independently of Aurora.

Anandia supplies testing providers for greater than 30 licensed medical marijuana producers.

Mitchell Osak, managing director of accounting and tax advisory agency Grant Thornton in Toronto, stated the acquisition is a science and mental property play.

“To win in medical, you will have to treat it as a pharmaceutical business, which means you will need tremendous skill and IP,” he stated. “The science is ultimately what’s going to deliver the higher margins and higher revenue in this industry.”

Aurora’s chief company officer, Cam Battley, stated the acquisition strikes the corporate extra into the pharmaceutical area.

“The depth of the science here takes us in a direction that we’ve committed to going in, and that’s toward intellectual property,” Battley stated.

Aurora Cannabis is traded on the Toronto Stock Exchange beneath the ticker image ACB.

Matt Lamers could be reached at [email protected]

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