Tilray Expands Medical Cannabis Footprint in Europe
-- Earns Status as Trusted Supplier of GMP-Certified Medical Cannabis to Luxembourg Ministry of Health --
-- Tilray Branded Medical Cannabis Now Available in 20 Countries Around the World --
NEW YORK--(BUSINESS WIRE)--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.
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
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Berrin Noorata, email@example.com
Raphael Gross, +1-203-682-8253, Raphael.Gross@icrinc.com