Tilray® Receives Additional GMP Certification at EU Campus Allowing for International Export of Finished Medical Cannabis Pr...
December 11 2019 - 8:00AM
Business Wire
Licensing expands company’s international
export capacity with the authorized manufacture of medical cannabis
flower and oil products to be exported from Portugal as finished
product to Germany and other European and international
markets
Tilray, Inc. (“Tilray” or “the Company”) (NASDAQ: TLRY), a
global pioneer in cannabis research, cultivation, production and
distribution, today announced its wholly-owned subsidiary Tilray
Portugal, Unipessoal Lda. (“Tilray Portugal”) has received its Good
Manufacturing Practice (GMP) certification in accordance with
European Union standards, for its manufacturing facility in
Cantanhede, Portugal. The GMP certification was issued by Infarmed,
the Portuguese National Authority of Medicines and Health Products.
This is the second GMP certification for Tilray Portugal, which
allows the facility to manufacture and export GMP-certified
finished medical cannabis products, including dried flower and
oils, from Portugal to international markets with legal medical
cannabis regulations.
“We are pleased with the continued momentum of our growth
strategy across Europe with this additional GMP certification for
Tilray’s EU campus in Portugal,” says Brendan Kennedy, Tilray CEO.
“This will enable us to export a greater range of medical products
to international patients, partners and markets. Our international
strategy is an important component in driving profitability and
long-term shareholder value.”
Tilray’s EU campus in Portugal is a multi-faceted production
facility that includes outdoor and greenhouse cultivation sites;
research and quality control labs; and processing, packaging and
distribution sites for medical cannabis. Tilray’s EU campus also
serves as a hub supporting Tilray’s clinical research and product
development efforts across Europe. Multiple harvests are expected
at this site in the coming months.
In May 2019, Tilray Portugal received its manufacturing license
and initial GMP-certification, allowing the company to manufacture
and export wholesale dried cannabis as active substances used as
starting materials. In September 2019, Tilray Portugal completed
its first export to Germany which was the largest inner European
bulk shipment of medical cannabis to date. The additional
GMP-certification announced today allows Tilray to supply
international markets with pharmaceutical-grade dried flower and
oils as finished medical cannabis products.
“We now have two GMP-certified facilities to service our global
expansion strategy,” says Sascha Mielcarek, Tilray’s Managing
Director in Europe. “We’re pleased to have the ability to export
our leading medical cannabis flower and oil products to
international markets. We will continue to expand our reach to
provide patients access to Tilray’s pharmaceutical-grade medical
cannabis products, proudly produced in Europe.”
Tilray has established sales and distribution arrangements to
supply medical cannabis through major pharmaceutical distribution
channels throughout Germany and other European markets. These
arrangements allow patients in-need to access Tilray’s finished
medical cannabis.
About Tilray® Tilray is a global pioneer in the research,
cultivation, production and distribution of cannabis and
cannabinoids currently serving tens of thousands of patients and
consumers in 13 countries spanning five continents.
Cautionary note regarding forward-looking statements:
This press release contains “forward-looking statements” within the
meaning of the U.S. Private Securities Litigation Reform Act of
1995 and “forward-looking information” within the meaning of
Canadian securities laws, or collectively, forward-looking
statements. Forward-looking statements or
forward-looking-information in this press release may be identified
by the use of words such as, “may”, “would”, “could”, “will”,
“likely”, “expect”, “anticipate”, “believe, “intend”, “plan”,
“forecast”, “project”, “estimate”, “outlook” and other similar
expressions, including without limitation statements in respect to
Tilray’s intention to increase production, processing, cultivation
or R&D capacity or launch brands, products and novel form
factors at any of its facilities and Tilray’s expectations relating
to servicing the global cannabis market. Forward-looking statements
are not a guarantee of future performance and are based upon a
number of estimates and assumptions of management in light of
management’s experience and perception of trends, current
conditions and expected developments, as well as other factors that
management believes to be relevant and reasonable in the
circumstances, including assumptions in respect of current and
future market conditions, the current and future regulatory
environment and future approvals and permits. Actual results,
performance or achievement could differ materially from that
expressed in, or implied by, any forward-looking statements in this
press release, and, accordingly, you should not place undue
reliance on any such forward-looking statements and they are not
guarantees of future results. Please see the heading “Risk Factors”
in Tilray’s Quarterly Report on Form 10-Q, which was filed with the
Securities and Exchange Commission and Canadian securities
regulators on November 13, 2019, assumptions, uncertainties and
other factors that may cause actual future results or anticipated
events to differ materially from those expressed or implied in any
forward-looking statements. Tilray does not undertake and
specifically declines any obligation to update any forward-looking
statements that are included herein, except in accordance with
applicable securities laws.
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version on businesswire.com: https://www.businesswire.com/news/home/20191211005103/en/
Media, Global: Chrissy Roebuck, +1-833-206-8161, news@tilray.com
Investors: Rachel Perkins, +1-646-277-1221,
rachel.perkins@icrinc.com
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