NANAIMO, British Columbia–(BUSINESS WIRE)–Tilray, Inc. (“Tilray” or “the Company”) (NASDAQ: TLRY), a global pioneer in cannabis research, cultivation, production and distribution, today announced that its wholly-owned subsidiary Tilray Portugal Unipessoal Lda. (“Tilray Portugal”) has received a standard manufacturing license and a Good Manufacturing Practices (GMP) certification, in accordance with the European Medicines Agency’s (EMA) standards, for its Biocant Park manufacturing facility in Cantanhede, Portugal. This license and certification allow Tilray Portugal to manufacture and export GMP-certified dried cannabis as an active substance for medicinal products.
Tilray has established sales and distribution arrangements to supply medical cannabis through major pharmaceutical distribution channels throughout Germany and the European Union (EU). This license and certification further enhances Tilray’s capacity to serve international markets such as Germany and other EU member states, as well as none-EU jurisdictions that recognize EU GMP certification.
Tilray’s EU Campus in Portugal is a multi-faceted production facility that includes indoor, outdoor and greenhouse cultivation sites; research and quality control labs; as well as processing, packaging and distribution sites for medical cannabis and cannabinoid-containing medical products. To date, Tilray has invested approximately €20 million in the facility, which totals nearly 250,000 square feet with additional room to expand. The site also serves as a hub supporting Tilray’s clinical research and product development efforts across Europe. The Tilray EU Campus currently employs over 100 people, and that number is expected to double by the end of 2019, with production ramping up and multiple harvests anticipated in the coming months. An official ribbon-cutting ceremony celebrating the inauguration of Tilray’s EU Campus was hosted in April 2019.
“This licensing and certification marks a critical milestone for our growth in Portugal and Europe. We’re proud to increase our international export capacity and are looking forward to exporting dried cannabis as active substances from our EU Campus to legal jurisdictions in the EU and other international markets,” said Sascha Mielcarek, Managing Director, Europe. “The next phase of GMP certification will allow us to utilize the full capacity of our multi-faceted facility and continue to serve more patients in need.”
Tilray was the first medical cannabis producer to successfully import medical cannabis products into the EU and the first licensed medical cannabis producer in North America to obtain GMP certification in accordance with EMA standards. Tilray expects the second phase of GMP certification for its facility in Portugal to occur in the coming months, which will allow the company to manufacture and export GMP-certified finished medicinal products from Portugal to international markets.
Tilray is a global pioneer in the research, cultivation, production, and distribution of cannabis and cannabinoids currently serving tens of thousands of patients and consumers in 12 countries spanning 5 continents.
Source: Tilray Inc.
Tilray, Inc. (NASDAQ: TLRY) 6 Month Chart
Tilray Inc. (NASDAQ: TLRY) Technical Analysis Signal