Tilray Medical Announces Scientific Study on Medical Cannabis for Patients Over Age 50

Rhea-AI Summary

Tilray Medical, a division of Tilray Brands (Nasdaq: TLRY; TSX: TLRY), announced a new scientific study titled 'Medical Cannabis for Patients Over Age 50.' The study, conducted across multiple sites, involved 299 participants with an average age of 66.7 years, 62.2% of whom were female. Approximately 90% of the participants used medical cannabis to treat pain-related conditions such as chronic pain and arthritis.

The study found significant improvements in pain scores, sleep, and quality of life among the participants. Additionally, there was a notable reduction in the use of other medications, suggesting that medical cannabis could be a cost-effective treatment option. This study emphasizes the growing importance of medical cannabis for older adults and reinforces Tilray's commitment to advancing medical research and providing quality medical cannabis products.

Positive

• Significant improvements in pain scores, sleep, and quality of life among older patients.
• Notable reduction in the use of other medications, indicating cost-effectiveness.
• Demonstrates Tilray's commitment to advancing medical research and supporting comprehensive studies.

Negative

• None.

Medical Research Analyst

Tilray Medical's recent study on the impact of medical cannabis for patients over 50 offers critical insights into an emerging segment of healthcare. The study provides evidence that medical cannabis can improve pain, sleep and overall quality of life for older adults. Given that this demographic often suffers from chronic conditions, these findings could influence both medical practice and patient choices.

From a clinical perspective, the reduction in co-medication suggests that medical cannabis could be an effective alternative to traditional painkillers, which often come with side effects and risks of dependency. This is particularly relevant in light of the ongoing opioid crisis, making medical cannabis a potentially safer option.

However, it is essential to note that this study is observational and not a randomized controlled trial (RCT), which limits the ability to establish causality definitively. Future RCTs would be necessary to confirm these findings and guide clinical guidelines more robustly.

Market Research Analyst

For retail investors, Tilray's research has significant implications. The aging population represents a rapidly growing market for medical cannabis and Tilray's proactive approach in conducting and publishing this study positions the company well to capitalize on this trend. The multi-site nature of the study enhances its credibility and provides a broader, more generalizable understanding of the potential benefits of medical cannabis.

The findings could spur increased adoption of medical cannabis among older adults, leading to higher demand for Tilray's products. This aligns with the company's mission to transform lives and suggests a strong potential for market growth.

However, investors should also consider the regulatory landscape, which varies significantly across regions. While the study enhances Tilray's reputation and provides a strong case for the therapeutic use of cannabis, local regulatory approvals will ultimately determine market access and growth potential.

Older Patients Represent a Rapidly Growing Subset for Therapeutic Medical Cannabis Use for Pain, Sleep, Quality of Life and Co-Medication

BERLIN, July 09, 2024 (GLOBE NEWSWIRE) -- Tilray Medical, a division of Tilray Brands, Inc. ("Tilray") (Nasdaq: TLRY; TSX: TLRY) and a global leader in medical cannabis, empowering the therapeutic alliance between patients and healthcare practitioners to make informed individualized health decisions, today announced a new Tilray-led scientific publication titled, Medical Cannabis for Patients Over Age 50: A Multi-Site, Prospective Study of Patterns of Use and Health Outcomes. The Medical Cannabis in Older Patients Study (“MCOPS”) is a multi-site, prospective, observational study examining the real-world impact of medical use on patients over the age of 50 and under the guidance of a healthcare provider.

The MCOPS study comprised of 299 participants with an average age of 66.7 years and 62.2% of respondents identified as female. Approximately 90% of patients used medical cannabis to treat pain-related conditions such as chronic pain and arthritis. This study presents to the medical and scientific community the impact of medical cannabis on health outcomes, with a focus on pain, sleep and quality of life.

Under medical cannabis guidance and care, the MCOPs shows correlation with improvements in pain scores, sleep and quality of life in a still growing subset of patients. A significant reduction of co-medication was observed, indicating that the treatment with medical cannabis can be a cost-effective option for this population.

José Tempero, Tilray’s Medical Director, stated, "Our involvement in this initiative underscores our unwavering commitment to advancing medical research and highlights our dedication to providing products that supports the findings to the comprehensive research that bring us one step closer to unlocking the full therapeutic potential of medical cannabis, especially reinforcing its role as a treatment option for an aging population."

Tilray Medical’s mission is to continue transforming lives and fostering dignity for patients in need through access to medical cannabis, and today is a leading provider of EU-GMP certified medical cannabis products in over 20 countries with a comprehensive portfolio of THC and CBD products. Tilray has supported medical trials globally, across Europe, Canada, the United States, Australia, and Latin America, studying the efficacy of medical cannabis as a treatment for indications including pediatric epilepsy, refractory pediatric epilepsy, cancer-induced nausea and vomiting, HIV, essential tremor, breast cancer disorders, post-traumatic stress disorder, and alcohol use disorders.

About Tilray Medical 
Tilray Medical is dedicated to transforming lives and fostering dignity for patients in need through safe and reliable access to a global portfolio of medical cannabis brands, including Tilray, Aphria, Broken Coast, Symbios and Navcora. Tilray grew from being one of the first companies to become an approved licensed producer of medical cannabis in Canada to building the first GMP-certified cannabis production facilities in Europe, first in Portugal and later in Germany. Today, Tilray Medical is one of the largest suppliers of medical cannabis to patients, physicians, hospitals, pharmacies, researchers, and governments, in 20 countries and across five continents.

For more information on Tilray Medical, visit Tilray Medical Europe, Tilray Medical Canada, and Tilray Medical Australia-New Zealand. 

About Tilray Brands

Tilray Brands, Inc. (Nasdaq: TLRY; TSX: TLRY), is a leading global cannabis-lifestyle and consumer packaged goods company with operations in Canada, the United States, Europe, Australia, and Latin America that is changing people's lives for the better – one person at a time. Tilray Brands delivers on this mission by inspiring and empowering the worldwide community to live their very best life and providing access to products that meet the needs of their mind, body, and soul while invoking wellbeing. Patients and consumers trust Tilray Brands to deliver a cultivated experience and health and wellbeing through high-quality, differentiated brands and innovative products. A pioneer in cannabis research, cultivation, and distribution, Tilray’s unprecedented production platform supports over 20 brands in over 20 countries, including comprehensive cannabis offerings, hemp-based foods, and craft beverages.

For more information on how we open a world of wellbeing, visit www.Tilray.com.

Contacts:
Tilray Brands: news@tilray.com
Investors: investors@tilray.com

FAQ

What is the focus of Tilray's new study on medical cannabis?

The study focuses on the use of medical cannabis for patients over the age of 50, examining its impact on pain, sleep, and quality of life.

How many participants were involved in Tilray's medical cannabis study?

The study involved 299 participants with an average age of 66.7 years.

What percentage of participants in Tilray's study used medical cannabis for pain-related conditions?

Approximately 90% of the participants used medical cannabis to treat pain-related conditions such as chronic pain and arthritis.

What improvements were observed in Tilray's study on medical cannabis for older patients?

The study observed significant improvements in pain scores, sleep, and quality of life among the participants.

Did Tilray's study find any cost benefits of medical cannabis?

Yes, the study found a notable reduction in the use of other medications, suggesting that medical cannabis could be a cost-effective treatment option.