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Oct. 14, 2021, 8:55 a.m. EDT

Rising Consumer Spending on CBD-infused Products Fueling Big Profits in Billion Dollar Industry

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Launched in 2018 with the goal of accessing rare molecules in the cannabis plant in order to create innovative and differentiated products that would otherwise be cost-prohibitive, the partnership between Cronos Group and Ginkgo aims to develop eight molecules. The program convenes Cronos Group's deep understanding of the biological structure and function of cannabinoids with Ginkgo's unparalleled experience designing microorganisms for the production of cultured products across pharmaceuticals, agriculture and more.

Aurora Cannabis Inc. /zigman2/quotes/210559470/composite ACB -2.45% /zigman2/quotes/203734337/delayed CA:ACB -3.36% , the Canadian company defining the future of cannabinoids worldwide, has recently launched 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,” said Miguel Martin, Chief Executive Officer of Aurora Cannabis. “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.”

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SOURCE: FinancialNewsMedia.com

The post Rising Consumer Spending on CBD-infused Products Fueling Big Profits in Billion Dollar Industry appeared first on Financial News Media .

COMTEX_395184518/2608/2021-10-14T08:54:58

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/zigman2/quotes/210559470/composite
US : U.S.: Nasdaq
$ 4.99
-0.13 -2.45%
Volume: 5.61M
Jan. 19, 2022 2:03p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.01 billion
Rev. per Employee
$106,572
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/zigman2/quotes/203734337/delayed
CA : Canada: Toronto
$ 6.19
-0.22 -3.36%
Volume: 888,884
Jan. 19, 2022 1:48p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.27 billion
Rev. per Employee
$134,894
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