Tilray Expands Medical Cannabis Footprint in Europe
October 26 2021 - 7:30AM
Business Wire
-- 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 --
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20211026005304/en/
Media: Berrin Noorata, news@tilray.com
Investors: Raphael Gross, +1-203-682-8253,
Raphael.Gross@icrinc.com
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