Tilray, Inc. (NASDAQ: TLRY), a global pioneer in cannabis production, research, cultivation, and distribution, announced that it has been selected by the French National Agency for the Safety of Medicines and Health Products (ANSM) to supply Good Manufacturing Processes (GMP) certified medical cannabis products for experimentation in France. Tilray will supply GMP-produced medical cannabis products to serve patients in need for the duration of the French experiment (18-24 months), due to begin in the first quarter of 2021.
Tilray products will be administered to qualifying patients in the French experiment, for whom existing treatments do not provide sufficient relief from their symptoms, and for therapeutic indications including:
- Neuropathic pain that is refractory to therapies currently available (drug or non-drug treatments);
- Certain forms of epilepsy that are drug-resistant;
- In certain persistent symptoms in oncology, related to cancer or anti-cancer treatment;
- In palliative care situations;
- In the painful spasticity of multiple sclerosis or other pathologies of the central nervous system.
Tilray has received the necessary regulatory approvals to participate in the ANSM experimentation in France and will export medical cannabis products from its GMP-certified facility in Cantanhede, Portugal.
Brendan Kennedy, Tilray’s Chief Executive Officer, said, “Today’s announcement marks another milestone for Tilray as we expand operations in Europe. We are proud to be able to offer access to a variety of high-quality, pharmaceutical-grade medical cannabis products to the ANSM while supporting patients in need in France.”
Sascha Mielcarek, Tilray’s General Manager for Europe, said, “We are pleased to be chosen by the ANSM and fully appreciate the stakes of this experiment for French patients, and we are determined to contribute to its success actively. Tilray is once again establishing itself as a key player with solid expertise in the service of patient well-being.”
Tilray’s E.U. Campus in Portugal is a multi-faceted production facility that includes research and quality control labs, packaging, and distribution sites for medical cannabis. It also serves as a hub supporting Tilray’s clinical research and product development efforts across Europe. Tilray has established sales and distribution arrangements to supply medical cannabis through major pharmaceutical distribution channels 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 (NASDAQ: TLRY) 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 15 countries spanning five continents.
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 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. 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 European 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 on November 9, 2020, for a discussion of the material risk factors that could cause actual results to differ materially from the forward-looking information. Tilray does not undertake to update any forward-looking statements that are included herein, except in accordance with applicable securities laws.
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