As the first anniversary of recreational cannabis legalization approaches in Canada, licensed producers of all sizes are now seeking to expand into the burgeoning European medical market.
Seeking to capitalize on that growing international industry, British Columbia-based company Tilray Inc. (NASDAQ: TLRY) today announced a successful bulk shipment of medical cannabis oral solutions was sent to the UK from a Canadian facility.
The company’s importing of cannabis oil occurred after UK Home Secretary Sajid Javid launched a review into medical uses for cannabis and announced cannabis-based medications were effectively legalized for patients with a clinical need.
While medical usage restrictions are loosening, Javid has repeatedly stressed that the review was not intended to lead to the legalization of recreational marijuana usage.
With that government special access program for medical cannabis now in place, Tilray intends to significantly expand access to patients in the UK through a pharmaceutical grade product line.
Tilray has also taken a more active role in promoting legalization and the relaxing of existing restrictions in European nations.
Executives from the company joined a live stream last month pushing for medical cannabis in France which also saw fellow Canadian companies Aurora Cannabis and Canopy Growth taking part in a question and answer session with French doctors.
Discussing today’s completed shipment from Canada to Europe, Tilray’s VP of Medical and Regulatory Affairs Catherine Jacobson commented:
While additional shipments are expected to be imported from Tilray’s Canadian facilities, the company also recently received Good Manufacturing Processes certification at a new Portuguese site.
That 250,000 sq. ft. indoor grow facility is located in Cantanhede and operates through the company’s subsidiary Tilray Portugal Unipessoal Lda.
With production ramping up as more European nations look into medical cannabis treatments, the Tilray greenhouse in Portugal is set to expand from 100 to 200 employees by the end of 2019.