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6 Pot Stocks That Experienced a Large Increase in Buying From Hedge Funds and Institutions in Q4
FEBRUARY 22, 2020
RYAN T.
2019 was a year to forget for cannabis stocks and investors alike. The fourth quarter of 2019 saw many retail investors dump their positions in underperforming pot stocks for a variety of reasons including tax-loss purposes.
While most investors succumbed to the panic-induced selling pressure that gripped the cannabis sector, it seems a more sophisticated group of investors were actually adding to or opening new positions in multiple cannabis stocks during the fourth quarter.
Aurora Cannabis (NYSE: ACB) | Q4 2019 13F Holdings
Increase in Institutional Holdings: +17.07%
https://www.thecannabisinvestor.ca/6-pot-stocks-that-experience-a-large-increase-in-buying-from-hedge-funds-and-institutions-in-q4/
Nelson Peltz Is In a League of His Own When it Comes to Activist Investing
The 'highly-engaged' activist investor uses operational expertise and PE-style attitude to go after companies many activists avoid.
DONALD OROL MAY 15, 2018. (Still relevant)
https://www.thestreet.com/markets/nelson-peltz-is-in-a-league-of-his-own-when-it-comes-to-activist-investing-14589053
I believe you and Google. It is just staggering.
I guess I did make a better deal.
With your numbers, it cost Bezos $41,271,500,000. That's 41 billion and change. (cab fare)
To put that into perspective:
BUSINESS02.20.2020 01:44 PM
With a $10 Billion Fund, Jeff Bezos Can Control the Planet’s Future
The Amazon CEO’s pledge will fundamentally reshape the fight against climate change, whatever Bezos ultimately decides to do with it.
https://www.wired.com/story/jeff-bezos-control-planet-future-10-billion-fund/
So with 10 billion, Bezos can "control the Earth's future", but it costs him 41 billion just to divorced. Maybe she will kick in a few billion for the planet also.
I'm no Bezos, but I do have a generous prenup with my wife. She gets 10 shares of ACB (and a pre-roll of the daily special), every year with the option to buy more shares from me for $16.00 a share.
So the silver lining is that Dobler is going through an expensive divorce.
Better than buying a new Rolls Royce Sweptail at $13,000,000 with the $12,752,016.
No, certainly not great news. Hard to see a silver lining.
I have been trying to search how many shares Dobler still holds. Anyone with that info? Thanks.
Yes, thank you for posting the original story with all of the details of the deal with Peltz, still operable today. I reread it, and you know what, I hadn't remembered quite how favorable the deal was and is for current shareholders.
Facts do matter.
I agree 100% Weedisgreen, as does Yoda:
"Yes, an investor's strength flows from the Force. But beware of the dark side. Shorts, anger, fear, aggression; the dark side of the Force are they. Easily they flow, quick to join you in a fight. If once you start down the dark path, forever will it dominate your destiny, consume you it will... In the end, cowards are those who follow the dark side."
Another in a long line of repetitive, BS, and not even up to date, articles by the fools.
https://www.fool.com/investing/2020/02/21/is-aurora-cannabis-stock-a-buy.aspx
Let's put on our rally hats and get this back up to 4.20 for the weekend.
Ontario dispensary rollout flowing as slowly as maple syrup on a cold February day.
0 degrees today in Leamington, Canada
From another board
Canadian cannabis retail sales, seasonally adjusted.
$57.3M - Dec 18, 2018
$54.9M - Jan 19, 2019
$51.7M - Feb 19, 2019
$60.9M - Mar 19, 2019
$74.6M - Apr 19, 2019
$85.8M - May 19, 2019
$91.5M - Jun 19 2019
$104.5M - Jul 19, 2019
$125.9M - Aug 19, 2019
$122.9M - Sept 19, 2019
$128.9M - Oct 19, 2019
$135.7M - Nov 19, 2019
$146.2M - Dec 19, 2019
Aurora Cannabis and UFC are proud to announce the launch of ROAR Sports — a new high-performance sports brand.
The ROAR Sports brand is being launched in connection with scientific research aimed at developing hemp-derived CBD products formulated with the elite athlete in mind.
https://www.roarsports.com/
For $2,000 you can purchase 58 contracts of $2 January, 2021 calls.
Only the smallest chance of a loss IMO, and much more chance of 300-400% gains.
Bears will try to exit their positions in an orderly fashion, but watch for a possible mad rush to the doors in the next days.
You can only hold a beach ball under the water for so long. The sector is bouncing up. We will see how sustainable this min-reversal, with 5th day in a row green, will be.
yes, and I agree with you.
Sean Dollinger would be the absolute worst choice for CEO.
Yikes
Yeah, I think I read a few analysts and board members mention bankruptcy a couple of times over the last few months.
My major play here is long-term, as I see too many positives for me to ignore, despite the temporary setbacks and red faces.
I will also happily take profits on my shorter term calls, having learned to sell when the gains explode, because they just as quickly implode a few days later.
But long-term, ACB is a hold and accumulate at these levels with few worries.
Happy hunting
Yeah, but I saw it coming far too long before it came.
Anyway, happy 4th day green. 6 cents a day is fine
"As the Bears hurdle the Bulls... The Bears are high five each other and congrats each other. The Bears have forget the the Bulls now form an impenetrable line. Now the Bears will have no other way except retreated or got risk run over. Soon it's not only Bulls run them over, but it's going to be a of wild raging elephants bull them over."
This reminds me of one of my favorite jokes as a kid.
"What's the gushy stuff between elephants toes?"
"Slow Natives" or, in this case, "Slow Shorts"
APHA stuck at $4.20
hmmm
1 day ago February 17, 2020, 10:16 pm
Author: Bullishcharts
The Bears May be Out of Ammunition… Finally.
Is it possible that the closet has been fully emptied and there’s nothing left for the bears to focus on? In layman’s terms, there is basically nothing new that could surface to cause continued fear and panic selling amongst retail investors. Aurora Cannabis Inc (NYSE: ACB) has laid it all on the table in recent weeks; which in cumulative has culminated in, CEO, Terry Booth’s resignation. Last week’s earning went pretty much as expected. The results were very poor, but what was encouraging was that the company’s held nothing back in regards to commentary and willingness to tackle the naysayers head on. The culling of 500 jobs is truly unfortunate for those affected, but this strategic effort shows that the board is trying to bring both stability and accountability to the forefront in all future plans.
Despite all the upheavals in ACB, combined with the horrendous decline in the stock price; it is somewhat concerning that Nelson Peltz has remained tight lipped. Mr. Peltz was brought into the company as a strategic advisor and was greeted with a $20 million stock option. The aforementioned was seen as the man that could open doors to partnerships with larger consumer package companies, without handing over major leverage, like CGC did to Constellation. It is quite difficult to see what Peltz has achieved yet; apart from, possibly being responsible for the departure of CEO Booth, but maybe that was the first step in putting the ‘For Sale’ sign outside of ACB headquarters.
The company’s stock is currently trading at 85% discount, as compared to when Peltz joined the embatttered company. The question that we are currently pondering is, ‘Will Peltz eventually jump ship, or will he make some of his time tested magic happen again?’. With the departure of Booth, the path to becoming an acquisition is now clear. Given the dire state of ACB‘s finances, investors should rejoice at the opportunity to cash out.
Let’s First Take A Look at the 1-Day Chart for Some Hint, As To Where $ACB Could Be Heading in the Days and Weeks to Come.
Things May Not Be Just as Bad as they Seem. Let’s Consider the Following, When Analyzing $ACB:
Foremost, volume is higher on up days and lower on down days; which signal that sellers are becoming exhausted.
(Volume this morning was almost 9 million in the first 30 minutes)
Bullish divergence exists on the RSI.
Stochastic has reset and has now crossed bullishly.
$2.00 is a major price-level that the bulls need to take control off.
ACB’s Weekly Chart puts its Current Price Action into Perspective.
It is pretty certain that those previous highs may never be seen again, but a move above the Point of Control (POC) would be a very positive step for the stock. Let’s evaluate the current situation:
Below the $1.41 price-level, there is practically no historical price action, therefore sellers should be very limited.
The stochastic has bottomed and has crossed bullishly.
The histogram is front running price, having already crossed above the zero line and turned green.
It is quite possible that ACB could consolidate between the $2.04 and $1.04 price range for some time; so as to build a base and entice new investors.
The Final Verdict for #AuroraCannabis.
In summary, things may not as bad as they seem for ACB. For as long as Nelson Peltz remains within the company, there is hope that an accomplished CEO will be put in place. Finally, there is also the chance of a new partnership(s), as well as the possibility of waking up to breaking news: that a bid has been placed for the company.
https://www.bullishcharts.com/cannabis/the-bears-may-be-out-of-ammunition-finally-aurora-acb/
ACB going up for 4th day in a row, but remember up is down, so actually we must be crashing.
Yes, I listen to a recording of Singer on the conference call to help fall asleep at night. zzzzzzzzzzzz
No sizzle, but methodical, and hopefully effective.
ACB up 14% over last Thursdays lows
Not the moon, but I'll take it.
Well said.. said... said
I agree
WeedStreet420
@weedstreet420
Aurora is now selling 3.5g at $18.99 and 7g at $34.99 $ACB
Interim CEO Michael Singer said the company is now "recalibrating" its expectations of the Canadian cannabis market, launching a new value product dubbed the "Daily Special" aimed at combating the illicit market
"Cannabis future simplified: large scale producers fill shelves with daily special and processed goods for bulk of population. Craft growers provide high end for connoisseurs. Like every other market really. Look at wine."
Having mixed feeling about this. Good for ACB to have "access", but the devil is in the details.
Trump to headline $580,600-per-couple fundraiser, the most expensive of his reelection bid
By Josh Dawsey and Michelle Ye Hee Lee
The Washington Post
WASHINGTON — President Donald Trump will be the guest of honor at a Saturday fundraiser at the palatial Palm Beach estate of billionaire Nelson Peltz.
https://www.seattletimes.com/nation-world/trump-to-headline-580600-per-couple-fundraiser-the-most-expensive-of-his-reelection-bid/
a few more this morning 8:30
OGI 7.08%
HEXO 4.72%
CTST 14.26 %
CGC now 22.69%
Nothing like bong hits. ACB weed, I hope.
Keep up the DD.
They gonna keep shorting from here? Good luck with that.
Aurora Cannabis Announces Second Quarter 2020 Results
Aurora Cannabis Inc. (CNW Group/Aurora Cannabis Inc.)
NEWS PROVIDED BY
Aurora Cannabis Inc.
Feb 13, 2020, 07:00 ET
Net Revenue of $66.6 million, excluding provisions of $10.6 million
Net Cannabis Revenue, excluding provisions, of $63.2 million, In Line With Recent Guidance
Cash Cost to Produce Per Gram Sold of $0.88
Successful Launch of Cannabis 2.0 Products Across Canada
Consumer Cannabis Net Revenue, excluding provisions, Grows at 11% Over Prior Quarter
NYSE | TSX: ACB
EDMONTON, Feb. 13, 2020 /PRNewswire/ - Aurora Cannabis Inc. (the "Company" or "Aurora") (NYSE | TSX: ACB), the Canadian company defining the future of cannabis worldwide, announced today its financial and operational results for the second quarter of fiscal 2020 ended December 31, 2019.
"Despite delivering modest growth in our core medical and consumer business in Q2, we took immediate and deliberate actions to align our Company to current market conditions," said Michael Singer, Executive Chairman and Interim CEO, Aurora Cannabis. "As announced last week, being a profitable cannabis company for our investors is the singular near-term focus for Aurora and we have begun to implement a business transformation plan where we intend to manage the business with a high degree of fiscal discipline."
Second Quarter 2020 Highlights
(Unless otherwise stated, comparisons are made between Fiscal Q2 2020 and Q1 2020 results and are in Canadian dollars)
Cannabis net revenue of $63.2 million, excluding provisions, in Q2 2020 compared to $70.8 million in Q1 2020:
Canadian and international medical cannabis net revenue of $27.4 million, with Canadian medical net revenue sequentially flat at $25.6 million, and international medical net revenue down from $5.0 million to $1.8 million due to a temporary sales interruption
Consumer cannabis net revenue, excluding provisions, of $33.5 million was an increase of 11% from $30.0 million in the previous quarter. Including the $10.6 million provision for returns and price adjustments for prior quarter sales, reported consumer cannabis net revenues were $22.9 million. Also affecting Q2 consumer cannabis net revenue was slower provincial ordering during the quarter, a shift in the market to value brands (Aurora launched "Daily Special" in early February 2020), and the industry-wide impact from the slow pace of retail store licensing
Wholesale bulk cannabis net revenues of $2.4 million, a decline from $10.3 million in the previous quarter, due to overall volume declines and the wholesale of lower potency (priced) product
Production volume in fiscal Q2 was 30,691 kilograms, in-line with previous expectations as Aurora realigned its cultivation strategy to produce a greater amount of higher value and higher potency strains
Cash cost to produce per gram sold remained relatively consistent at $0.88 per gram versus $0.85 per gram last quarter – Aurora intends to maintain this metric below $1.00 per gram
Aurora's medical patient base remained relatively consistent at 90,307
Successfully launched Cannabis 2.0 products with sales to provincial distributors commencing on December 17, 2019
Subsequent Events & Business Transformation Plan
Subsequent to the quarter end, the Company made several decisions designed to strategically transform its operations and provide financial flexibility in response to a changing market and regulatory environment, while supporting its long-term growth:
Announced CEO succession plan and expansion of the Board of Directors
Executive Chairman Michael Singer appointed Interim CEO, effective February 6, 2020; search for permanent successor underway
Two new Independent Directors joined the Board for a total of 10 directors, including 7 Independents
Announced comprehensive transformation plan to significantly reduce the Company's expense base, rationalize capital expenditures, and better align its balance sheet with current market conditions
Secured credit facility amendments that remove EBITDA ratio covenants and provided additional financial flexibility as Aurora executes transformation plan
"The transformational actions we announced last week have already positively impacted SG&A expense and we are confident that our run-rate will be approximately $40 million - $45 million as we exit the fiscal fourth quarter of 2020. This is a very important step toward EBITDA profitability," said Glen Ibbott, CFO. "In addition, our credit facility was amended to provide greater flexibility to Aurora. More specifically, Aurora chose to downsize the facility by $96.5 million with the elimination of undrawn term loan capacity, and further used $45 million of restricted cash to repay a portion of the drawn term loan balance for the purpose of reducing leverage and cash required for debt service."
Following these facility changes, Aurora's current credit facility and other debt outstanding includes:
$50 million revolving facility, of which $2 million was drawn as of December 31, 2019
$162 million of fully drawn senior secured term loans
US$345 million of senior unsecured convertible debentures due February 2024
Q2 2020 Key Financial and Operational Metrics
($ thousands, except Operational Results)
Q2 2020
Q1 2020 (4)
$ Change
%Change
Financial Results
Total net revenue(4)
$56,027
$75,245
($19,218)
(26)%
Cannabis net revenue (1)(2a) (4)
$52,676
$70,776
($18,100)
(26)%
Canadian and international medical cannabis net revenue (1)(2a)
$27,386
$30,450
($3,064)
(10)%
Consumer cannabis net revenue (1)(2a)
$22,906
$30,022
($7,116)
(24)%
Wholesale bulk cannabis net revenue (1)(2a)
$2,384
$10,304
($7,920)
(77)%
Gross margin before FV adjustments on cannabis net revenue (1)(2b)
44%
58%
N/A
(14)%
Gross margin before FV adjustments on medical cannabis net revenue (1)(2b)
54%
63%
N/A
(9)%
Gross margin before FV adjustments on consumer cannabis net revenue (1)(2b)
32%
53%
N/A
(21)%
Gross margin before FV adjustments on wholesale bulk cannabis net revenue (1)(2b)
45%
58%
N/A
(13)%
Adjusted gross margin before FV adjustments on cannabis net revenue (1)(2b)
55%
67%
N/A
(12)%
Selling, general and administration expense
$99,882
$81,132
$18,750
23%
Balance Sheet
Working capital
$415,936
$123,750
$292,186
236%
Cannabis inventory and biological assets (1)(3)
$216,735
$178,748
$37,987
21%
Total assets
$4,671,912
$5,606,799
($934,887)
(17)%
Operational Results – Cannabis
Cash cost to produce per gram sold (1)(2c)
$0.88
$0.85
$0.03
4%
Active registered patients
90,307
91,116
(809)
(1)%
Average net selling price of medical cannabis (1)
$7.99
$8.00
($0.01)
0%
Average net selling price of consumer cannabis (1)
$4.76
$5.28
($0.52)
(10)%
Average net selling price of wholesale bulk cannabis (1)
$1.90
$3.46
($1.56)
(45)%
Kilograms produced
30,691
41,436
(10,745)
(26)%
Kilograms sold
9,501
12,463
(2,962)
(24)%
(1)
These terms are defined in the "Cautionary Statement Regarding Certain Non-GAAP Performance Measures" section of the MD&A.
(2)
Refer to the following sections in the MD&A for reconciliation of non-GAAP measures to the IFRS equivalent measure:
a.
Refer to the "Revenue" section in the MD&A for a reconciliation of cannabis net revenue to the IFRS equivalent.
b.
Refer to the "Gross Margin" section in the MD&A for reconciliation to the IFRS equivalent.
c.
Refer to the "Cash Cost of Sales of Dried Cannabis and Cash Cost to Produce Dried Cannabis Sold – Aurora Produced Cannabis" section of the MD&A for reconciliation to the IFRS equivalent.
(3)
Represents total biological assets and cannabis inventory, exclusive of merchandise, accessories, supplies and consumables.
(4)
Includes impact of actual and expected product returns and price adjustments (three and six months ended December 31, 2019 - $10.6 million; three and six months ended December 31, 2018 - nil)
($ thousands)
Three months ended
December 31, 2019
December 31, 2018
Net revenue
56,027
54,178
Patient counseling services
(695)
(2,334)
Analytical testing services
(637)
(1,367)
Other cannabis segment revenues (accessories, hemp, other)
(1,655)
(2,174)
Horizontally integrated business revenue
(364)
(726)
Cannabis net revenue
52,676
47,577
The table below outlines the breakdown of cannabis net revenue between our medical, consumer and wholesale bulk markets, as well as our dried cannabis and cannabis extracts for the three months ended December 31, 2019 and September 30, 2019.
($ thousands)
Three months ended
December 31, 2019
September 30, 2019
Medical cannabis net revenue
Canada dried cannabis
14,803
14,882
Canada cannabis extracts (1)
10,791
10,606
International dried cannabis
1,758
4,553
International cannabis extracts (1)
34
409
Total medical cannabis net revenue
27,386
30,450
Consumer cannabis net revenue
Dried cannabis
28,980
26,889
Cannabis extracts (1)
4,491
3,133
Revenue provisions (2)
(10,565)
-
Total consumer cannabis net revenue
22,906
30,022
Wholesale bulk cannabis net revenue
Dried cannabis
2,352
7,432
Cannabis extracts (1)
32
2,872
Wholesale bulk cannabis net revenue
2,384
10,304
Total cannabis net revenue
52,676
70,776
Cannabis extracts revenue includes cannabis oils, capsules, softgels, sprays and topical revenue.
Revenue provisions consists of actual returns and price adjustments of $6.1 million and a $4.5 million revenue provision for estimated future returns and price adjustments
Consolidated net revenue, excluding provisions, was $66.6 million in Q2 2020 as compared to $75.2 million in the prior quarter. Medical cannabis net revenues decreased to $27.4 million in Q2 2020, down 10% over the prior quarter due to a short-term permit issue in Germany (since resolved). Consumer cannabis revenues were $33.5 million ($22.9 million net of provisions) in Q2 2020. The provisions included in cannabis net revenues are comprised of $6.1 million of actual returns and price adjustments and a $4.5 million provision for future returns and price adjustments.
Average net selling price of cannabis, including provisions, decreased to $5.54 per gram over the prior quarter of $5.68. This decrease is attributable to the previously mentioned provision for returns and price adjustments impacting Q2 2020 which did not affect Q1 2020, lower kilograms sold in Q2 versus Q1, and lower wholesale bulk volume and pricing.
Gross margin before fair value adjustments on cannabis net revenue, excluding provisions was 48% in Q2 2020, compared to 58% in the prior quarter. Including the impact of the return and price adjustment provisions, gross margin before fair value adjustments on cannabis net revenue was 44%.
During Q2 2020, Aurora produced 30,691 kilograms of cannabis as compared to 41,436 kilograms in the prior quarter. The 26% decrease in production output was primarily due to previously announced changes to cultivation strategies, including a pivot to high-value, high-potency strains which are lower yielding. With continued refinement of our cultivation techniques, we expect to achieve quarterly harvest volumes leading to an average of 150,000 kgs annually or better.
Q2 2020 SG&A increased by 23% to $99.9 million from the prior quarter. The increase was primarily driven by a rise in salaries and benefits due to targeted growth in corporate headcount and annual merit increases, investments in educational marketing campaigns related to the launch of Cannabis 2.0 products, and marketing initiatives related to the launch of the Aurora Drift brand. On February 6, 2020, Aurora announced decisive action effective immediately to reduce SG&A expenses from the Q2 2020 levels, and expects to manage the business with an SG&A expense run-rate of between $40 million to $45 million per quarter exiting Q4 2020 (June 30, 2020).
Adjusted EBITDA(1) loss was $80.2 million in Q2 2020 compared to $39.7 million in Q1 2020. The decline in adjusted EBITDA loss is primarily due to the quarter over quarter decrease in revenue (including provisions), an increase in production costs relating to the ramp up for the legalization of Cannabis 2.0, and the increase in SG&A expenses. Developing a profitable cannabis company in the near term is extremely important to Aurora. While the Company strongly believes the global market opportunity for cannabis is robust, there is uncertainty in the timing of revenue ramp-up in our core markets. Therefore, the Company has taken action to materially reduce SG&A expenses focused on achieving positive adjusted EBITDA.
Outlook
Consistent with Aurora's release dated February 6, 2020; the Company is bullish on the long-term potential for the global cannabis opportunity. However, due to several short-term factors, there is likely to be a slower than previously expected rate of industry growth in the near-term. The Company has outlined a number of fiscally responsible steps it has already taken to realign its business operations to this expected industry growth rate. Aurora reiterates its outlook for fiscal third quarter that cannabis revenue will be impacted by previously mentioned industry headwinds, and as such will likely show modest to no growth relative to fiscal Q2's cannabis revenue, excluding provisions, of approximately $65 million.
Footnote:
(1)
This term is defined in the "Cautionary Statement Regarding Certain Non-GAAP Performance Measures" section of this MD&A. Refer to the "Adjusted EBITDA" section for reconciliation to the IFRS equivalent.
Conference Call
Aurora will host a conference call today, February 13, 2020, to discuss these results. Michael Singer, Executive Chairman and Interim Chief Executive Officer, and Glen Ibbott, Chief Financial Officer will host the call starting at 8:00 a.m. Eastern time. A question and answer session will follow management's presentation.
DATE:
Thursday, February 13th, 2020
TIME:
8:00 a.m. Eastern Time | 6:00 a.m. Mountain Time
WEBCAST:
http://public.viavid.com/index.php?id=138107
REPLAY:
(844) 512-2921 or (412) 317-6671
Available until 11:59 p.m. Eastern Time Thursday, February 27, 2020
PIN NUMBER:
13699134
DATE:
Thursday, February 13th, 2020
I never mentioned Apple. How did you pick me out?
And yes, I am always kidding. Seriously.
Let's hope so. I will be ready to add on a predictable knee jerk drop even if no further bad news is presented.
It likely will well drop regardless of any more good news. 2022 $2 options are so cheap. If they drop further tomorrow, they may as well give them away.
ACb up .02 premarket on 1,186 shares... to the moon! Or at least to Killarney, Ontario!!!
German insurer paints picture of nation’s growing medical cannabis industry
Published 1 hour ago | By Alfredo Pascual
Applications for reimbursement of medical cannabis expenses by Germany’s second-largest health insurer doubled from 2017 to 2019, signaling robust growth in the use of the drug.
Flower remained one of the most prescribed cannabis products, according to data provided in a new release by German insurer Barmer.
Assuming trends witnessed by Barmer are representative of the overall market, the data paints a more complete picture of Germany’s growing medical cannabis sector in lieu of free-flowing data from the country’s federal health regulator.
Reimbursement approval rates have remained close to two-thirds since the start of the current program in early 2017.
Significant regional differences exist within Germany, as some states have higher reimbursement approval rates while others have a higher number of applications.
According to Barmer, the health insurer received 14,986 applications for reimbursement between March 2017 and January 2020. Of those, the company approved 10,255, or 68%.
The yearly number of applications Barmer received for reimbursement was:
3,090 between March and December 2017.
5,238 in 2018.
6,094 in 2019.
Marijuana Business Daily estimates that statutory health insurers in Germany reimbursed more than 100 million euros ($110 million) of medical cannabis in 2019.
Barmer’s data also shows that approval rates for patients have failed to improve materially.
Sixty-five percent were approved in 2017, rising to 72% in 2018 before dipping to 67% in 2019.
“Cannabis applications are rejected, for example, if they are to be used for diseases for which other therapy alternatives have not yet been tested,” Dr. Ursula Marschall, head physician at Barmer, said in the news release.
Barmer’s data for German states showed that approval rates ranged from 78% to 56% in Saxony-Anhalt and Hessen, respectively.
Marschall attributes the large regional differences in approval rates to “information deficits and incorrect applications.”
According to Barmer’s data, the largest number of applications was submitted in Bavaria, 3,029, followed by North Rhine-Westphalia’s 2,871 and Baden-Württemberg’s 1,310.
Flower remains one of most popular products, according to Barmer’s data.
Since March 2017, Barmer-insured patients have been prescribed almost 83,000 packages of cannabis products worth approximately 35.3 million euros. About 20,000 of these were packages of unprocessed cannabis flower.
“The demand for cannabis flowers is so high that supply bottlenecks may occur from time to time,” Marschall said.
She also warned that the use of flower is “not without problems,” including “difficulty to dose” and flower products are “more expensive” than other finished drugs.
Germany also experienced supply issues until end of January 2020, though Canadian producer Aurora Cannabis was able to resume sales in February.
A total of 6,714 kilograms (14,802 pounds) of flower was imported into Germany in 2019.
https://mjbizdaily.com/german-insurer-paints-picture-of-nations-growing-medical-cannabis-industry/
I really like cats, and would never personally bounce a dead one, but this morning bump is a pleasant respite.
Happy to add at 1.93. Just missed the 1.80's