For more than a year, we have discussed how Germany could create a domino type effect for legal cannabis in the European Union (EU) and our hypothesis is already starting to prove to be accurate.
Last week, the Czech coalition government reported to be drafting a bill to regulate the cannabis industry. This comes after the government appointed drug commissioner Jindřich Vobořil to draft a law to legalize adult-use cannabis. Next year, legal cannabis legislation is expected to be introduced and we will monitor how the industry evolves.
During the last few years, we have noticed an increased interest in the EU cannabis market and several leading North American operators are levered to it.
Today, we have highlighted Tilray Brands Inc. (Nasdaq: TLRY) (TSX: TLRY) as we consider the company to be the leader in the EU due to its leverage to the following markets in the region.
- Germany – By acquiring Aphria, Tilray Brands enhanced its leverage to the German cannabis market and we are bullish on that market.
- Italy – Tilray Medical was approved to start importing and distributing its medical cannabis oral solution in Italy.
- Portugal – During the first calendar quarter of 2021, Tilray Portugal was approved to export Good Manufacturing Processes (GMP) certified medical cannabis from Portugal to Spain.
- Poland – in mid-August, Tilray Brands received approval to commercialize branded medical cannabis products in Poland which further expands its product offering and distribution across pharmacies in Europe.
- Spain – In early 2021, Tilray started to sell medical cannabis to patients in Spain.
- France – In January 2021, the cannabis company was selected by a French national agency to supply GMP certified medical cannabis products for experimentation in France.
- Switzerland – In late 2019, Tilray exported medical cannabis extracts to Switzerland
- Luxembourg – in October 2021, Luxembourg’s Ministry of Health selected Tilray to provide GMP certified medical cannabis to the country’s medical cannabis program.
- Malta – During the first calendar quarter of 2022, Tilray Medical expanded its medical cannabis offering and launched the first EU GMP medical cannabis oil products in Malta.
We consider Tilray Brands to be a leading play on the EU and want our readers to be aware of it. If you are interested in learning about the company, please send an email to firstname.lastname@example.org with the subject “Tilray Brands” to be added to our distribution list.