Tilray sets medical cannabis milestone in Italy
Tilray Medical, a division of Tilray Brands (TSX:TLRY), has become the first company to receive Italian authorization to distribute medical cannabis flower for therapeutic use
Tilray is a global consumer packaged goods company active in cannabis, beverage, wellness and entertainment
Tilray stock has given back 78.17 per cent year-over-year and 97.46 per cent since 2021
Tilray Medical, a division of major cannabis player Tilray Brands (TSX:TLRY), has become the first company to receive authorization from Italy's Ministero della Salute to distribute medical cannabis flower for therapeutic use.
Tilray Medical, operating through wholly-owned subsidiary, FL Group, will introduce three new medical cannabis flower varieties to Italy beginning in June, which will be available for distribution through pharmacies across the country. They are: Tilray THC 25%.
Tilray THC 18%.
Tilray THC 9% / CBD 9%.
The approval complements Tilray's existing presence in Italy, initially announced in May 2023, as well as its leading position in the European market, including operations in Germany, Portugal, Poland and the United Kingdom. Leadership insights
'This milestone underscores the vital role of medical cannabis as a therapeutic medicine for patients in need, supporting their health and well-being. We are proud to expand our medical cannabis portfolio in Italy with the introduction of our Tilray Medical high-quality, EU-GMP certified medical cannabis products that uphold the highest standards in patient care,' Denise Faltischek, Tilray Brands' chief strategy officer and head of international, said in a statement. 'We extend our gratitude to the Ministero della Salute for their trust in Tilray Medical and for providing the necessary regulatory framework to ensure access to safe, consistent and reliable cannabinoid-based therapies. Together, we are advancing healthcare and patient wellness through innovation and collaboration.' About Tilray Brands
Tilray is a global consumer packaged goods company active in cannabis, beverage, wellness and entertainment. The company's platform includes more than 40 brands spanning presences in more than 20 countries.
Tilray stock (TSX:TLRY) last traded at C$0.50. The stock has given back 78.17 per cent year-over-year and 97.46 per cent since 2021.
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