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Tilray Brands Inc TLRY

Alternate Symbol(s):  T.TLRY

Tilray Brands, Inc. is a global lifestyle and consumer packaged goods company. The Company operates through four segments: Cannabis operations, Distribution business, Beverage alcohol business and Wellness business. The Cannabis operations, which encompasses the production, distribution, sale, co-manufacturing and advisory services of both medical and adult-use cannabis. The Beverage alcohol operations, which encompasses the production, marketing and sale of beverage alcohol products. The Distribution operations, which encompasses the purchase and resale of pharmaceuticals products to customers. The Wellness products, which encompasses hemp foods and cannabidiol (CBD) products. The Company offers a portfolio of adult-use brands and products and expands its portfolio to include new cannabis products and formats. Its brands include Good Supply, RIFF, Broken Coast, Solei, Canaca, HEXO, Redecan, Original Stash, Hop Valley, Revolver, Bake Sale, XMG, Mollo, and others.


NDAQ:TLRY - Post by User

Comment by DaveInCalgaryon Nov 29, 2023 1:22pm
98 Views
Post# 35759029

RE:RE:Tilray Brands - Luxembourg

RE:RE:Tilray Brands - Luxembourg
Published on

November 3, 2023

Luxembourg At Risk of Imminent Medical Cannabis Shortage


As prominent cannabis sources reveal, Luxembourg, the European hotbed for legalized medical cannabis, is teetering on the brink of a cannabis supply crisis. Initiated by a sudden transition of cannabis suppliers, the potential shortage threatens to disrupt the nation’s steady supply of medical cannabis since its legalization in February 2019.

In a breaking news report from Pirate Party MP Sven Clement during a parliamentary session, a stern warning was issued about the looming catastrophe. MP Clement pressed Luxembourg’s Health Minister, Paulette Lenert, on the urgency of the dire situation, indicating that only cannabis oils remain readily available – an alarming premonition of a severe lack of diversity in forms of medical cannabis.

Key Takeaways:

  • Luxembourg is in danger of a serious medical cannabis shortage.
  • A transition in cannabis suppliers has been blamed for the looming shortage.
  • A significant increase in medical cannabis prescriptions has exacerbated the problem.

In an attempt to quell fears, Minister Lenert pointed out that the scarcity results from a shift in supplier of cannabis flowers. “The previous contract with Tilray ended on 3rd August 2023, and Schroll Medical, a Danish pharmaceutical giant, emerged victorious from a new tender launched in May that year,” stated Lenert.

An attempt to buffer the transitional gap between suppliers led to a sizable order of medical cannabis in July, which, however, has failed to turn up. This mishap has left Luxembourg’s medical scene on tenterhooks, awaiting an adequate supply.

BRITISH CANNABIS Breaking News understands that there’s an impending delivery of medical cannabis scheduled to arrive at Luxembourg by the end of October and further in November. But things won’t be business as usual until the new supplier, Schroll Medical, can supply the demands specially catered to Luxembourg’s market.

While patients can rely on the existing reserves of cannabis oils for the time being, these developments have triggered a much-needed dialogue around the necessity for a stabler and resilient medical cannabis supply chain in Luxembourg.

Fueling the shortage further is the burgeoning medical cannabis demand, evident by the soaring prescription rates. Post-legalization in 2020, Luxembourgian patients were prescribed a staggering 140kg of the herb. This sky-rocketed to an astonishing 283 kg by 2021, prompting the country to make several emergency buys of multiple kilos of medical cannabis but at stinging prices.

What BRITISH CANNABIS has to say:

While Luxembourg grapples with this conundrum, it’s crucial to note the larger implications. This serves as a flashpoint for many nations globally, emphasizing the urgency of strengthening their medical cannabis supply chains. After all, the burgeoning demand for medical cannabis and the potentially huge payoff calls for resilient strategies to avoid such shortages. With growing decriminalization and acceptance, the industry, government, and health care sectors must work hand-in-hand to view such scenarios as lessons rather than setbacks.

Stay with BRITISH CANNABIS for up-to-the-minute reporting and responses to these global cannabis concerns.

 


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