Here’s the press release one could almost suggest (not that we would) that this press release might have had something to do with Luxembourg’s announcement only on Friday of last week.
It does worry us when cannabis companies make announcements in the same way that you might hear that a multinational oil or energy company might announce how they are providing some useful service to a small country in Africa or Asia. Let’s hope somebody in Brussels is keeping an eye on this sort of thing.
NEW YORK–(BUSINESS WIRE)–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.