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Aurora Cannabis's executive chairman, Michael Singer, said Thursday that he was worried about the uncertain situation surrounding vaping in the United States.
Singer's comments on CNBC's "Power Lunch" come one day after the Trump government announced it was planning to ban flavored electronic cigarettes, as federal health officials sought to fight against the outbreak of a mysterious but deadly lung disease. He sickened hundreds of people and killed at least six people.
"Personally, I'm very worried about what I read in the United States," said Singer, whose cannabis company is based in Alberta, Canada. "In Canada, it's very different and we're heavily regulated by Health Canada, which is a good thing."
Aurora is one of the largest cannabis producers in the world.
The Trump administration plans provide for all tobacco-free products to be removed from the market within 30 days. Companies may be able to sell them later, but this will require the approval of the Food and Drug Administration.
Electronic cigarettes are a relatively new market, and the FDA was going to start examining them last summer, but former FDA commissioner, Scott Gottlieb, delayed this process until 2022. The Wednesday's proposal has the effect of essentially moving the FDA's calendar to review aromas until this year. The increasing use of vaping products by children has caused concern among health officials.
Although the repression planned by the Trump administration deals with flavored tobacco, there are also cannabis vaping products. The Washington Post announced last week that health officials investigating the epidemic of lung disease had found the same substance in some cannabis products as in products used by people who became ill.
A spokeswoman for the National Cannabis Industry Association told the Marijuana Business Daily that the proposed restrictions on e-cigarettes have created a "preliminary concern" that it could potentially affect the regulation of marijuana in the United States. If it became legal.
Singer said Aurora, which fell 8.5% on Thursday after posting weak earnings guidance and strong fourth quarter revenue, is working closely with Health Canada to meet the standards. in force in the country.
"With respect to the vaping or vaping products we will be launching, we will test each of our products to exacting standards to ensure that the products we offer to consumers are safe and we feel at home. We do not put our customers or our patients at risk for our derivative products, "said Singer.
– CNBC's Angelica LaVito contributed to this report.
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