- Tilray Brands (TSX:TLRY), a cannabis stock with operations in over 20 countries, is announcing that subsidiary Aphria RX GmbH has received a cannabis trading license in Germany
- The German cannabis market is expected to grow from C$1.79 billion in 2024 to C$6.88 billion by 2034
- Tilray is a leading global cannabis lifestyle and consumer packaged goods company supporting more than 20 brands with operations in Canada, the United States, Europe, Australia and Latin America
- Tilray stock has given back 21.45 per cent year-over-year and 86.77 per cent since inception in 2021
Tilray Brands (TSX:TLRY), a cannabis stock with operations in more than 20 countries, is announcing that subsidiary Aphria RX GmbH has received a cannabis trading license in Germany.
After the award of a cultivation license just last week, Aphria RX will now be able to take full advantage of MedCanG, Germany’s cannabis act, by:
- 100 per cent utilization of its growing capacity.
- Expanding strains under its genetics program from 3 to 31.
- Gaining access to shelf space with pharmacies, hospitals and medical wholesalers across Germany.
The German cannabis market is currently valued at about €1.2 billion (C$1.79 billion), according to Euromonitor International, and is expected to reach US$4.6 billion (C$6.88 billion) by 2034, according to The Niche Research.
Check out The Market Online’s Weekly Cannabis Report for budding industry trends.
Leadership insights
“This milestone of Aphria RX obtaining both its new cultivation license as well as its trading license further expands Tilray’s leadership in medical cannabis research, cultivation, production and distribution in Germany, and once again proves our commitment to be one of the most responsible, trusted and market-leading cannabis companies in the world with a portfolio of innovative and high-quality products that address the needs of patients,” Denise Faltischek, Tilray’s chief strategy officer and head of international, said in a statement. “We remain dedicated to advocating for responsible cannabis regulations, education and research and accessibility to high-quality medical cannabis.”
About Tilray Brands
Tilray is a leading global cannabis lifestyle and consumer packaged goods company supporting more than 20 brands with operations in Canada, the United States, Europe, Australia and Latin America.
Tilray stock (TSX:TLRY) is up by 2.36 per cent trading at C$2.60 per share as of 10:01 am ET. The stock has given back 21.45 per cent year-over-year and 86.77 per cent since inception in 2021.
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