COLLABORATIVE INSIGHTS February 25, 2019
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COWEN
COLLABORATIVE INSIGHTS February 25, 2019
The current licensed companies have already entered agreements with publicly traded
cannabis companies. In 2018, Aurora acquired Uruguayan fully licensed ICC Labs Inc.
(ICC) that operates a GMP-certified lab facility, indoor and outdoor grow operations and
distributes CBD-based products under the brand BIDIOL. In January 2019, Khiron
acquired NettaGrowth International Inc., which gives the company access to one of the
two currently held medical cannabis licenses in Uruguay.
The amount of land cultivating hemp increased since 2016 but it not at the commercial
scale yet. There are intentions to grow hemp in order to extract CBD for pharmaceutical
and nutraceutical uses. Although cultivation of CBD with less than 1% THC is permitted,
it is relatively difficult to access CBD products in Uruguay at the moment. In 2018, Auxly
Cannabis Group acquired Uruguayan hemp cultivator and extractor Inverell S.A. with
plans to develop and distribute CBD products.
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