Milestone GMP certified medical cannabis distributed to German pharmacies
NEW YORK & NEUMÜNSTER, Germany – Tilray, Inc. (NASDAQ | TSX: TLRY), a global pioneer in cannabis research, cultivation, production and distribution, announced today that its wholly-owned subsidiary in Germany, Aphria RX GmbH, has completed the first successful harvest of medicinal cannabis grown in Germany for distribution to German pharmacies. The medicinal cannabis crop is the first grown under the European Good Manufacturing Practice (EU GMP) standard in Tilray’s 6,000-square-meter state-of-the-art indoor growing facility in Neumünster, Germany. The subsequent distribution, which was carried out by a distributor on behalf of the German Cannabis Agency and in accordance with all pharmaceutical and narcotic legal requirements, underscores Tilray’s strong presence and operational excellence within Europe’s key medicinal cannabis market.
“Our harvest in Germany represents an important milestone in providing access to high-quality, reliable medical cannabis to patients and healthcare professionals in Germany,” said Denise Faltischek, International Director and Chief Strategy Officer at Tilray. “It is a testament to the professionalism and dedication of our team that despite the challenges of a global pandemic, we stayed on track as the first licensed producer to grow medicinal 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 German Cannabis Agency, for which we are sincerely grateful. ”
Since Germany’s Cannabis as Medicine Act was enacted in March 2017, the country has relied exclusively on imports to meet the growing medical demand currently estimated at more than 100,000 patients. Tilray’s ongoing domestic harvest and production will play an indispensable role in ensuring that patients’ needs are met with the highest quality medical cannabis products while reducing dependency on imported supply.
Irwin D. Simon, CEO of Tilray, added: “The European Union represents a powerful growth market for us and, among its constituent markets, Germany has the greatest potential. We look forward to leveraging our strong medical platform and our multi-faceted international operation, combining cultivation, importation and a large distribution infrastructure in the country, to increase the access and availability of consistent, high-quality medical cannabis for all European patients. ” .
Mr. Simon concluded: “Tilray’s achievement in Germany serves as a strong affirmation that we differentiate ourselves competitively by scale and proven execution skills. As a result, we are poised to transform the industry globally with our highly scalable footprint, portfolio of diverse medical cannabis brands, and compelling products that address a wide range of patient and consumer needs. The EU is central to our global distribution network and we look forward to accelerating our progress. ”
Tilray has a pioneering track record as a company committed to making GMP certified pharmaceutical grade medical cannabis products available to patients in need around the world and was the first to successfully export medical cannabis from Canada and import medical cannabis products to the EU in 2016.
Tilray Inc. is a leading global cannabis consumer and lifestyle packaged company with operations in Canada, the United States, Europe, Australia and Latin America that is improving people’s lives, one person at a time, by inspiring and empowering the global community to live their best life by providing products that meet the needs of their mind, body and soul and invoke a sense of well-being. Tilray’s mission is to be the trusted partner for its patients and consumers by providing a cultivated experience and health and wellness through high-quality differentiated brands and innovative products. A pioneer in cannabis research, cultivation and distribution, Tilray’s unprecedented production platform supports more than 20 brands in more than 20 countries, including comprehensive cannabis offerings, hemp-based foods and alcoholic beverages.
Certain statements in this communication that are not historical facts constitute forward-looking information or forward-looking statements (collectively, “forward-looking statements”) under Canadian securities laws and within the meaning of Section 27A of the Securities Act of 1933, as amended. and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be subject to the “safe harbor” created by those sections and other applicable laws. Forward-looking statements can be identified with words such as “forecast”, “future”, “should”, “could”, “enable”, “potential”, “contemplate”, “believe”, “anticipate”, “estimate”, “” Plan “,” expect “,” intend “,” may “,” project “,” will “,” would “and the negatives of these terms or similar expressions, although not all forward-looking statements contain these identifying words. Certain material factors, estimates, objectives, projections or assumptions were used to draw the conclusions contained in the forward-looking statements throughout this communication. Many factors could cause actual results, performance or achievements to be materially different from forward-looking statements, and other risks and uncertainties that the Company is not currently aware of or that the Company considers immaterial could also cause actual results or events to differ materially. of those. expressed in the forward-looking statements contained therein. For a more detailed discussion of these risks and other factors, see Aphria’s most recently filed Annual Reporting Form and Tilray’s Annual Report on Form 10-K (and other periodic reports filed with the SEC) filed with regulatory authorities. of applicable securities and available at SEDAR and EDGAR. The forward-looking statements included in this communication are made as of the date of this communication and the company does not undertake any obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise, unless required by securities laws. applicable.
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