- Tilray Medical, a subsidiary of Tilray Brands, Inc., has been approved to supply Portugal’s first medical cannabis extract
- The product will be available in late spring
- Tilray Brands is a global cannabis lifestyle and consumer packaged goods company operating in Canada, the United States, Europe, Australia and Latin America
- Tilray stock has given back approximately 90 per cent since 2019
Tilray Medical, a subsidiary of Tilray Brands, Inc. (TSX:TLRY), has been approved to supply Portugal’s first medical cannabis extract.
The product, known as Tilray Oral Solution (THC 5, CBD 20), will be available in late spring for use in “several critical areas of patient care,” according to Thursday’s news release.
The news comes three years after Tilray Medical secured Portugal’s first authorization to offer medical cannabis products in 2021, bolstering the subsidiary’s diversified portfolio of EU-GMP-certified products, which are available in more than 20 countries across five continents.
“This is a monumental step forward for patient care in Portugal. With the approval of our first medical cannabis extract, we are proud to be at the forefront of medical cannabis research and accessibility and continue to demonstrate our commitment to providing innovative, safe and effective therapeutic options to patients,” Denise Faltischek, Tilray’s chief strategy officer and head of international, said in a statement. “We continue to pioneer the future of medical cannabis, furthering our mission to empower and inspire individuals to live their best lives.”
Tilray Brands is a global cannabis lifestyle and consumer packaged goods company operating in Canada, the United States, Europe, Australia and Latin America. Notable in-house brands include Tilray, Aphria, Broken Coast, Symbios and Navcora.
Tilray stock (TSX:TLRY) is down by 1.33 per cent, trading at C$2.23 per share as of 9:34 am ET. The stock has given back approximately 90 per cent since 2019.
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