Tilray, Inc. (TLRY) Expands Medical Cannabis Footprint in Europe

Tilray Expands Medical Cannabis Footprint in Europe

 

Tilray, Inc. (“Tilray”) (NASDAQ | TSX: TLRY), a global pioneer in medical cannabis research, cultivation, production, and distribution, today announced it has been selected by the Luxembourg Ministry of Health as a supplier of Good Manufacturing Practice (GMP) certified medical cannabis products for the country’s medical cannabis program.

Following this selection, Tilray will supply a variety of its pharmaceutical-grade medical cannabis products, including extracts and dried flower with different degrees of THC and CBD for patients with varying medical conditions. These prescription-based medical cannabis products will be administered to qualifying patients in Luxembourg under the supervision of physicians.

Irwin D. Simon, Chairman and Chief Executive Officer, stated, “We believe that Tilray’s growth potential in the European Union represents a $1 billion opportunity, and today’s announcement affirms that we are turning potential into performance. With today’s validation from the Luxembourg Ministry of Health, Tilray now offers branded medical cannabis in 20 countries around the world — a testament to our high standards and status as a trusted partner to patients in need. We’re proud to be building this unrivaled global platform and will continue to advocate for patient access in Europe and countries around the world.”

Denise Faltischek, Head of International and Chief Strategy Officer, added, “Tilray’s mission includes an unwavering conviction that patients around the world should have access to safe, high-quality cannabinoid-based medicine. We’re proud to expand this effort to Luxembourg and provide patients in need with pharmaceutical-grade medical cannabis products. We are committed to being a trusted partner, and we will continue to leverage our strong medical platform to increase access to the highest-quality medical cannabis for patients worldwide.”

Tilray operates two state-of-the-art GMP-Certified cannabis cultivation facilities in Europe located in Cantanhede, Portugal, and Neumunster, Germany. The E.U. Campus in Portugal is a multi-faceted production facility that includes the cultivation, extraction, processing, and packaging of medical cannabis. It also serves as a hub supporting Tilray’s clinical research and product development efforts across Europe. In addition, Tilray has established sales and distribution arrangements to supply medical cannabis through major pharmaceutical distribution channels, including CC Pharma, throughout Germany and the E.U., which will serve as a means to allowing patients to access Tilray’s GMP-certified finished medical cannabis.

About Tilray
Tilray, Inc. (Nasdaq: TLRY; TSX: TLRY) is a leading global cannabis-lifestyle and consumer packaged goods company with operations in Canada, the United States, Europe, Australia, and Latin America that is changing people’s lives for the better – one person at a time – by inspiring and empowering the worldwide community to live their very best life by providing them with products that meet the needs of their mind, body, and soul and invoke a sense of wellbeing. Tilray’s mission is to be the trusted partner for its patients and consumers by providing them with a cultivated experience and health and wellbeing through high-quality, differentiated brands and innovative products. A pioneer in cannabis research, cultivation, and distribution, Tilray’s unprecedented production platform supports over 20 brands in over 20 countries, including comprehensive cannabis offerings, hemp-based foods, and alcoholic beverages.
For more information about Tilray and Tilray Europe, visit www.Tilray.eu.com

Forward-Looking Statements
Certain statements in this communication that are not historical facts constitute forward-looking information or forward-looking statements (together, “forward-looking statements”) under Canadian securities laws and within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be subject to the “safe harbor” created by those sections and other applicable laws. Forward-looking statements can be identified by words such as “forecast,” “future,” “should,” “could,” “enable,” “potential,” “contemplate,” “believe,” “anticipate,” “estimate,” “plan,” “expect,” “intend,” “may,” “project,” “will,” “would” and the negative of these terms or similar expressions, although not all forward-looking statements contain these identifying words. Certain material factors, estimates, goals, projections or assumptions were used in drawing the conclusions contained in the forward-looking statements throughout this communication. Many factors could cause actual results, performance or achievement to be materially different from any forward-looking statements, and other risks and uncertainties not presently known to the Company or that the Company deems immaterial could also cause actual results or events to differ materially from those expressed in the forward-looking statements contained herein. For a more detailed discussion of these risks and other factors, see the most recently filed annual information form of Tilray and the Annual Report on Form 10-K (and other periodic reports filed with the SEC) of Tilray made with applicable securities regulatory authorities and available on SEDAR and EDGAR. The forward-looking statements included in this communication are made as of the date of this communication and the Company does not undertake any obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities laws.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211026005304/en/

Contacts

Media:
Berrin Noorata, news@tilray.com

Investors:
Raphael Gross, +1-203-682-8253, Raphael.Gross@icrinc.com

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.