Tilray Debuts In Portugal Ahead Of Merger With Aphria

Cannabis company Tilray Inc. TLRY is poised to enter the Portugal market.

The Nanaimo, British Columbia-headquartered company has received all regulatory and market approvals to offer its medical cannabis products to consumers in the South European country.

Tilray said it would utilize its GMP-certified EU facility located in Cantanhed for the purpose.

Infarmed, the Portuguese National Authority of Medicines and Health Products granted the authorization.

The company obtained its third Good Manufacturing Practice (GMP) certification for Tilray Portugal in May.

The expansion to Portugal brings the company's footprint to sixteen countries.

Tilray's products are developed to treat spasticity related to Multiple Sclerosis or spinal cord injuries as well as nausea and vomiting, to name a few.

"Tilray is committed to quality and patient safety, and we look forward to significantly improving the quality of lives of Portuguese patients through our medical cannabis products," Tilray CEO Brendan Kennedy stated.

Sascha Mielcarek, Tilray's Managing Director in Europe, said the company recognizes the increasing demand for medical cannabis across Europe.

"Patients can access Tilray products through major pharmaceutical distribution channels throughout Portugal and other European markets," Mielcarek said.

Tilray, Aphria Merger

Meanwhile, the move comes in anticipation of the finalization of a merger with Aphria Inc. APHA APHA, scheduled for the second quarter of 2021.

The deal has been negotiated for months. Cantor Fitzgerald's analyst Pablo Zuanic believes that consolidation can solve oversupply problems and "historically low flower retail prices."

"It is about what APHA + TLRY can do in a fast-deregulating cannabis world," he noted recently.