Tilray, Inc. and Hormosan Sign a Cooperation Agreement for the Promotion of Medical Cannabis Extracts in Germany
Tilray (Nasdaq: TLRY), a prominent player in the medical cannabis sector, has entered a co-promotion agreement with Hormosan, effective January 1, 2021. This collaboration aims to enhance marketing and sales for Tilray's full-spectrum cannabis extracts in Germany, leveraging Hormosan's expertise in pain therapy and neurology. Since launching its extracts in 2017, Tilray has expanded its offerings, which include various THC-CBD ratios, targeting chronic pain and sleep disorders. The partnership is expected to improve access for physicians and patients, ultimately benefiting patient care.
- Co-promotion agreement with Hormosan to boost sales and visibility in Germany.
- Tilray’s full-spectrum cannabis extracts target multiple medical indications, enhancing its product portfolio.
- None.
BERLIN & FRANKFURT, Germany--(BUSINESS WIRE)--Tilray, Inc. (“Tilray” or the “Company”) (Nasdaq: TLRY), a leading company in the manufacture, research and distribution of medical cannabis, announced that it has entered into a co-promotion agreement with Hormosan for its full-spectrum cannabis extracts in Germany effective 1 January 2021.
Hormosan is primarily focused on pain therapy and neurology and is part of the Lupin Group, an international entity that sells innovative drugs and generics. Hormosan will support Tilray in its marketing and sales activities of full spectrum cannabis extract in Germany. Through this strategic partnership, the expertise of both Tilray and Hormosan will be leveraged to expand Tilray’s presence in the German market.
Tilray launched its full-spectrum cannabis extracts in October 2017 and last expanded the range in May 2020. The range includes an extract with a balanced THC-CBD ratio, a CBD-dominant extract with a low THC content and a pure THC full-spectrum extract. According to the legal regulation, the use of cannabis full-spectrum extracts is not restricted to a specific indication, but the treating doctor decides at their own discretion whether a treatment is suitable. The Tilray extracts are used for chronic pain, spasticity, sleep disorders and a variety of other indications.
"With Hormosan we have gained a partner that has excellent expertise and contacts in the field of pain therapy and neurology and will thus significantly increase the visibility of Tilray's full-spectrum cannabis extracts in the future," explains Sascha Mielcarek, Managing Director Europe at Tilray. “This will give physicians and patients even better access to our medical cannabis extracts while supporting our goal of contributing to improved care for patients with medical cannabis."
“As one of the leading providers of full-spectrum cannabis extracts, Tilray is an ideal partner for Hormosan. With the co-promotion of medical cannabis extracts, we are expanding our competence and our therapeutic range in the field of pain therapy and neurology,” comments Anjan Selz, Managing Director of Hormosan. "It is precisely the complementarity of medical cannabis with existing therapies that opens up promising options for doctors and their patients."
About Tilray®
Tilray is one of the world's leading companies in the research, manufacture and distribution of medicinal cannabis and cannabinoids. Tilray has a broad product portfolio and can draw on experience with over 25,000 treated patients in fifteen countries on five continents. Further information can also be found at tilray.de.
About Hormosan
Hormosan Pharma GmbH was founded in Germany over 50 years ago and has been part of the international Lupin Group since 2008. With innovative and generic drugs, Hormosan supports the best possible treatment in the areas of neurology, pain therapy, as well as sexual health and HIV. In doing so, it focuses primarily on the medical needs of patients that have not yet been met, increasing patient benefits and the availability of alternative therapy options. Further information can also be found information at www.hormosan.de.
