2021 has been a banner year for the legal international medical cannabis market and several major markets have passed legislation that supports the industry.
Tilray, Inc. (Nasdaq: TLRY) (TSX: TLRY) is a global pioneer in cannabis research, cultivation, production and distribution, and is an operator that we are bullish on. Earlier this year, Tilray completed a merger with Aphria, Inc., a leading Canadian and international cannabis company, and we are bullish on the growth prospects of the combined company.
Earlier this week, Tilray’s wholly owned German subsidiary, Aphria RX GmbH, reported an important milestone and completed the first successful harvest of medical cannabis that was cultivated in Germany and will be distributed to German pharmacies.
The reason why the completion of the medical cannabis harvest is significant is because it’s the first to be cultivated under European Good Manufacturing Practices (EU GMP) standards at Tilray’s state-of-the-art 6,000 square meter indoor growing facility in Germany.
The harvest was distributed by a firm on behalf of the German Cannabis Agency and was completed in accordance with all pharmaceutical and narcotic legal requirements. The development underscores Tilray’s strong foothold and operational excellence in the German cannabis market and we find this to be an important milestone for the business.
In 2017, Germany’s Cannabis as Medicines Act was passed, and the country has relied exclusively on imports to satisfy demand. Tilray believes there are more than 100,000 medical cannabis patients in Germany, and we expect this number to significantly increase over the next few years.
Tilray’s ongoing domestic harvest and production will play an important role in ensuring that demand from patients is satisfied. The company’s German facility should reduce the country’s overall dependence on cannabis that is being imported and expect the market to serve as a major revenue generator for the business.
Tilray plans to leverage its strong medical platform and its multi-faceted international operation, which combines in-country cultivation, importation, and large distribution infrastructure, to increase access and availability to premium medical cannabis for European patients.
Tilray’s achievement in Germany serves as a strong affirmation that the business is competitively differentiated by scale and by execution skills. As a result, the company is poised to transform the industry globally with its highly scalable footprint, portfolio of diverse medical cannabis brands, and compelling products that respond to a wide range of patient and consumer needs.
We believe that Tilray is executing on a multi-national and are bullish on the growth prospects that are associated with it. If you are interested in learning more about Tilray, please send an email to email@example.com with the subject “Tilray” to be added to our distribution list.
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