Tilray Medical, a division of Tilray Brands TLRY, announced the launch of its first commercial medical cannabis products cultivated in Germany.
The debut comes from its Aphria RX facility, marking a milestone under the country's recently updated cultivation regulations, MedCanG.
New Cultivation License Drives Local Production
Tilray was the first company to secure the new cannabis cultivation license under MedCanG in July 2024.
This regulatory shift allows Aphria RX to grow and manufacture a variety of popular medical cannabis strains that were previously imported.
The indoor-grown products are expected to offer consistent quality tailored to German patients’ preferences:
"Our Made in Germany premium cannabis products represent a significant step forward in delivering high-quality medical cannabis to patients," said Denise Faltischek, Tilray's chief strategy officer. "This achievement strengthens our position as a leader in cultivation, production, and distribution, while demonstrating our commitment to the German medical cannabis community."
Read Also: Germany’s Govt. Coalition Crisis, Is Cannabis Reform At Risk?
Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter here. If you're serious about the business, you can't afford to miss out.
Medical Cannabis Market Shows Strong Growth
Germany's medical cannabis market is rapidly expanding, driven by increased patient adoption that came after cannabis was re-listed as a non narcotic substance.
Companies like Cantourage Group Sell, Bloomwell and Drapalin have reported record revenue, with projections suggesting continued robust growth.
The shift toward local cultivation by companies like Tilray reflects the broader industry trend of securing supply chains, since most cannabis in Germany is imported, mainly from Canada.
Medical cannabis, however, continues to gain traction, with sales projected to reach $1.09 billion by 2028. Recent regulatory changes have streamlined access, treating medical cannabis similarly to over-the-counter medications like ibuprofen.
While Germany has taken steps toward partial cannabis legalization, full-scale recreational sales remain on hold.
- Read Next: EXCLUSIVE: Persistence Pays Off For Only Cannabis Distributor In Bavaria’s Developing Market
Cover: AI generated image
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Cannabis is evolving – don’t get left behind!
Curious about what’s next for the industry and how to leverage California’s unique market?
Join top executives, policymakers, and investors at the Benzinga Cannabis Market Spotlight in Anaheim, CA, at the House of Blues on November 12. Dive deep into the latest strategies, investment trends, and brand insights that are shaping the future of cannabis!
Get your tickets now to secure your spot and avoid last-minute price hikes.