Tilray Medical, a division of Tilray Brands (TSX: TLRY), has received authorization from Italy’s Ministero della Salute to distribute medical cannabis flower for therapeutic use, marking a historic first for the country. This approval allows Tilray to introduce three specific varieties of medical cannabis flower in Italy starting this June, which will be available through pharmacies nationwide. The new products include:
– Tilray THC 25% – Tilray THC 18% – Tilray THC 9% / CBD 9%
This development expands Tilray’s existing operations in Italy, which were initially announced in May 2023. Additionally, it reinforces Tilray’s prominent position in the European market, where it operates in several countries including Germany, Portugal, Poland, and the United Kingdom.
Denise Faltischek, Tilray Brands’ Chief Strategy Officer and Head of International, stated that this move highlights the role of medical cannabis in providing therapeutic solutions for patients. She expressed gratitude to the Italian health authorities for establishing a regulatory framework that ensures access to safe cannabinoid-based therapies for patients.
Tilray is a global consumer packaged goods company with a diverse portfolio in cannabis, beverages, wellness, and entertainment. As of its last trading session, Tilray’s stock was priced at C$0.50, reflecting a decrease of 78.17% year-over-year and a 97.46% decline since 2021.
This authorization positions Tilray as a leader in the medical cannabis sector in Italy, catering to the growing demand for cannabinoid-based therapies in Europe.
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