Tilray Brands, Inc. (NASDAQ: TLRY) has achieved a historic milestone by becoming the first company to import and sell branded medical cannabis in Italy. This development comes as part of Tilray Medical’s efforts to expand its presence in the European market.
On Tuesday, Tilray announced the introduction of three new medical cannabis flower varieties, which are now available in pharmacies across Italy. These products feature different cannabinoid compositions: one with 25% THC, another with 18% THC, and a balanced formulation containing 9% THC and 9% CBD.
The Italian Ministry of Health has officially authorized Tilray to import and distribute these proprietary products for therapeutic use. This approval marks a significant step in Italy’s medical cannabis landscape, enabling healthcare providers to offer patients more tailored treatment options.
Denise Faltischek, Chief Strategy Officer and Head of International at Tilray, noted the importance of this launch for patient care. She expressed gratitude for the Italian government’s support and the regulatory framework that allows for consistent access to cannabinoid therapies.
Tilray’s entry into the Italian market complements its operations in other European countries, including Germany, Portugal, Poland, and the United Kingdom. The company’s products comply with EU-GMP (Good Manufacturing Practice) standards, ensuring that they meet quality and safety benchmarks.
Following the announcement, Tilray’s shares rose by 2.61%, reaching $0.3699 in premarket trading. This positive market reaction reflects investor optimism regarding the company’s growth prospects in the expanding medical cannabis sector.
With this launch in Italy, Tilray continues to solidify its position as a leader in the medical cannabis industry, committed to providing reliable and scientifically-backed cannabinoid options for patients and healthcare professionals alike.
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