RE:Tilray vs US MSO's (Quick Thoughts)Lets take a look at the largest MSO, CURA.
Product offering: CURA has been developing products for years.
Industry leading team of dedicated scientists at R&D facility in Massachusetts • 171 new products launched in 2022 • Approximately 18% of FY 2022 revenue was generated by new products launched in the last 12 months • Collaborations with: o The Imperial College in London o The Institute of Cancer Research in London o The University of Insubria in Italy o The Fondazione Mondino in Italy • A partnership with Boiron, a major European pharmaceutical company
Market Access: Curaleaf is the first and only MSO to have an international presence with operations across Europe • Europe has a potential addressable market of $248 billion(1) o 748 million people o In 2023, forecasted legal cannabis market of $1.2 billion(2) • Germany o Pillar 1 proposal passed the German Cabinet on August 16th with a final Parliamentary vote in early 2024 o Pillar 1 is expected to catalyze growth of the medical market by removing cannabis from the narcotics list and allowing telemedicine o Curaleaf is leveraging its Four20 Pharma cannabis brand to rapidly capture growing demand o Estimated patient growth could be 3-5x the current ~200,000 patient count • Curaleaf International has: o Three hectares of licensed cultivation (greenhouse and outdoor); ability to expand to 20 hectares o Import and distribution capabilities in the United Kingdom, Germany, Italy, Poland, and Portugal o Acquired EU-GMP processing facility in Portugal to complement our cultivation assets o Pioneering research relationships with institutions across the continent
Curaleaf International total revenue of $16 million, representing 120% Y-o-Y revenue growth • In the burgeoning UK medical cannabis market, we continued growing our market leadership position through our enhanced technology platform o On August 1 st , we launched sales of edibles in the UK • The German government is proposing significant expansion of its medical market (Pillar 1) by removing cannabis from the narcotics list and allowing telemedicine, which could accelerate patient adoption by 3-5x or more o The legislation is expected to be passed in 1Q24 • Our investment in Four20 Pharma continues to flourish through its premium, high quality flower position affording us leading market share • Curaleaf has started trading in the Swiss medical cannabis market and has also commenced sales into Poland • In the Czech Republic a draft bill for legalization of recreational cannabis has been put forward for parliamentary debate
Price compression / Competition: Already well under way in the USA, as for competition, the state of California alone dwarfs any competion in Canada.
Wholesale cannabis prices rise in key states, but downward pressure expected (mjbizdaily.com) Summary: Tilray does not have the corner on any market other than Canada, there exists very serious competion and there are plenty more international players out there. I've touched on this before, very soon there will be new competition coming to the Canadian from the market south of the border as soon as the laws allow. It's coming folks.