Tilray's First Harvest And Distribution Of Medical Cannabis In Germany Successfully Completed

Canadian cannabis giant Tilray, Inc. TLRY finalized its first harvest of medical cannabis grown in Germany via its German subsidiary Aphria RX GmbH. 

This is the company’s first medical cannabis harvest under European Good Manufacturing Practices standard at its state-of-the-art 6,000 square-meter indoor grow facility in Neumünster, Germany.

Tilray's harvest of medical cannabis was distributed to pharmacies in Germany on behalf of the German Cannabis Agency under the country’s pharmaceutical and narcotic legal requirements. This milestone represents Tilray’s strong base and operational experience in Europe.

“Our harvest in Germany represents an important milestone in granting access to high-quality and trustworthy medical cannabis to patients and healthcare professionals in Germany,” Denise Faltischek, Tilray's head of international and chief strategy officer, said. “It is a testament to the professionalism and dedication of our team that, despite the challenges of a global pandemic, we remained on track as the first licensed producer to cultivate medical cannabis in Germany. Our achievement would not have been possible without the trust and cooperation of the Federal Institute for Drugs and Medical Devices (BfArM) and the Germany Cannabis Agency, for which we are sincerely grateful.”

Reducing Reliance On Cannabis Imports 

Tilray further explained the way the medical cannabis program in Germany has been operating since it began in 2017. As it turns out, all this time Germany has been dependent on importing cannabis to meet the needs of its MMJ community, which is projected to include more than 100,000 patients. Tilray has said it is confident that its cultivation operations will notably minimize Germany's reliance on cannabis imports.

Irwin D. Simon, Tilray’s CEO added, “The European Union represents a powerful growth market for us and, among its constituent markets, Germany possesses the greatest potential. We look forward to leveraging our strong medical platform and our multifaceted international operation, which combines in-country cultivation, importation, and large distribution infrastructure, to increase access and availability to high-quality, consistent medical cannabis for all European patients.”

This milestone comes on the heels of the launch of its first Canadian craft cannabis brew in the US, via its SweetWater Brewing Company in partnership with Canada's Broken Coast Cannabis Ltd. 

Price Action 

Tilray’s shares were trading 4.84% lower at $15.91 per share at the time of writing Wednesday morning.

Photo: Courtesy of Elsa Olofsson on Unsplash