Gute Nachrichten! Tilray (TLRY) Receives First New Cannabis Cultivation License in Germany

PRISM Cannabis Index company Tilray Brands, Inc. (TLRY), a global leader in cannabis research, cultivation, production, and distribution, announced today that its German cannabis cultivation facility, Aphria RX GmbH, has received the first new cannabis cultivation license issued under Germany’s new Cannabis Act, MedCanG. This license enables Aphria RX to cultivate and manufacture a wide range of medical cannabis, improving patient access to high-quality medical cannabis produced in Germany.

In May 2019, Aphria RX was awarded the most comprehensive license for the cultivation of medical cannabis in Germany by the German Federal Institute for Drugs and Medical Devices (BfArM). This license included five lots totaling 1,000 kgs and uniquely allowed Aphria RX to grow all three strains of medical cannabis approved by BfArM.

The introduction of the MedCanG Bill in Germany has significantly increased the number of patients and prescribers of medicinal cannabis. With the new license, Tilray is well-positioned to capitalize on this market opportunity. Aphria RX can now fully utilize its growing capacity and expand its genetics to 31 approved strains, up from the previously approved three strains.

As a leader in medical cannabis research and production, Tilray believes these developments will positively impact patient health and well-being in Germany.