Tilray Medical Launches Broken Coast Medical Cannabis Brand in Australia
Tilray Medical, a division of Tilray Brands (NASDAQ: TLRY), has launched its Broken Coast EU-GMP certified medical cannabis products in Australia. These products are now accessible via a doctor's prescription and include strains like Amnesia Haze THC22, OG Kush Breath THC25, Cherry Cheesecake THC19, and EmergenZ THC27. The cannabis is cultivated by Broken Coast and manufactured by Avanti Rx Analytics at Tilray's Canadian facility, certified by Health Canada. Tilray aims to empower the therapeutic alliance between patients and healthcare professionals, providing high-quality, safe medical cannabis globally. The company leads the medical cannabis industry in over 20 countries with a diverse portfolio of THC and CBD products.
- Launch of Broken Coast medical cannabis in Australia, expanding Tilray's market presence.
- Products include popular strains like Amnesia Haze THC22 and OG Kush Breath THC25.
- Manufactured by Avanti Rx Analytics at an EU-GMP certified facility, ensuring high quality and safety.
- Access to products via a doctor's prescription aligns with stringent medical standards.
- Strong global footprint with operations in over 20 countries.
- None.
Insights
One insightful aspect of Tilray Medical's recent announcement is the launch of the Broken Coast EU-GMP certified medical cannabis products in Australia. It's essential to understand the significance of EU-GMP certification. EU-GMP, or European Union Good Manufacturing Practice, is a set of standards that ensures products are consistently produced and controlled according to quality standards. This certification can boost trust among healthcare professionals and patients, as it confirms the products meet rigorous international quality guidelines.
A noteworthy point is the specific strains being introduced: Amnesia Haze, OG Kush Breath, Cherry Cheesecake and EmergenZ, each with varying THC levels. This variety could cater to different medical needs, providing tailored therapeutic options. Additionally, the fact that these products are available through a doctor's prescription emphasizes a regulated and medically supervised approach, which is important in ensuring patient safety and efficacy.
The international footprint of Tilray, with operations in Canada and Europe, allows for a diversified and reliable supply chain, potentially reducing the likelihood of supply disruptions. This can be particularly important in a medical context where consistent access to medication is critical for patient health outcomes.
In the short term, this launch could enhance Tilray's presence in the Australian market and drive initial sales. Long-term benefits include the potential for ongoing patient and healthcare provider trust, which could translate to sustained revenue growth and market share.
Overall, for a retail investor, this news signals Tilray's commitment to quality and patient-centric innovation, reinforcing its position in the global medical cannabis space.
From a market perspective, Tilray Medical's expansion into Australia with its Broken Coast medical cannabis brand points to a strategic move to tap into the growing global demand for medical cannabis. Australia's medical cannabis market has been expanding, driven by regulatory changes and increasing acceptance among patients and healthcare professionals. By introducing EU-GMP certified products, Tilray is positioning itself as a provider of premium medical cannabis, differentiating itself from competitors who may not meet these stringent quality standards.
Importantly, Tilray's decision to leverage its existing manufacturing capabilities in Canada and its EU-GMP certified facility highlights an efficient use of resources. This strategic use of pre-existing infrastructure can help manage costs while ensuring high-quality product output. The ability to scale and adapt to market needs quickly is a significant advantage in the fast-evolving cannabis industry.
Short-term benefits include immediate market entry and sales generation in Australia. Long-term, this move could establish a strong brand presence, particularly if the products gain positive feedback from the medical community and patients. A potential drawback could be the regulatory complexities and potential market saturation if many players enter with similar high-quality offerings.
For retail investors, Tilray's strategic expansion and quality assurance measures are positive indicators of the company's forward-thinking and market adaptability.
Broken Coast EU-GMP Certified Medical Cannabis Whole Flower Products Are Now Available through a Doctor’s Prescription in Australia
NEW YORK and SYDNEY, June 20, 2024 (GLOBE NEWSWIRE) -- Tilray Medical, a division of Tilray Brands, Inc. ("Tilray Brands") (NASDAQ: TLRY and TSX: TLRY) and a global leader in medical cannabis, empowering the therapeutic alliance between patients and healthcare practitioners to make informed individualized health decisions, thereby transforming healthcare, today announced the launch of Broken Coast EU-GMP certified medical cannabis products in Australia.
Denise Faltischek, Chief Strategy Officer and Head of International, Tilray Brands, said, “Our highly scalable global footprint, which enables us to deliver medical cannabis globally from our facilities in Canada as well as our facilities in Europe, combined with our diverse portfolio of cannabis brands and products have been instrumental in leading the evolution of the global medical cannabis industry. As medical cannabis demand continues to grow worldwide, Tilray Brands remains steadfast in our commitment to providing healthcare professionals and patients with safe and reliable access to the highest-quality medical cannabis products.
Ms. Faltischek continued, “We have been vigilant in ensuring that we continue to fulfill our mission of transforming the lives of patients by empowering the therapeutic alliance between patients and healthcare practitioners to make informed individualized health decisions. The launch of Broken Coast medical cannabis in response to the feedback we received in Australia and leveraging insights from our operations in Canada and Europe, further evidences our commitment to our mission. Our unwavering dedication to innovation, quality and patient needs continues to be the foundation upon which we build our success and growth.”
Medical Cannabis patients in Australia now have access to Broken Coast’s renowned cannabis strains cultivated by Broken Coast and manufactured by Avanti Rx Analytics Inc. (Avanti RX), Tilray Brands’s EU-GMP certified facility located in Canada, which also holds a Health Canada Drug Establishment License, ensuring the highest quality and safety standards for medical cannabis patients and consumers.
The following Broken Coast products are now available for medical cannabis patients in Australia:
- Broken Coast Amnesia Haze THC22 10g
- Broken Coast OG Kush Breath THC25 10g
- Broken Coast Cherry Cheesecake THC19 10g
- Broken Coast EmergenZ THC27 10g – Expected availability in July 2024
Tilray continues to be one of the leading providers of EU-GMP certified medical cannabis to patients, physicians, pharmacies, hospitals, governments, and researchers across the globe, 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. In furtherance of its mission, Tilray has supported medical trials globally 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 EU-GMP certified cannabis production facilities in Europe, specifically in Portugal and Germany simultaneously. 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. (“Tilray”) (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 – by inspiring and empowering a worldwide community to live their very best life, enhanced by moments of connection and wellbeing. Tilray’s mission is to be the most responsible, trusted and market leading cannabis consumer products company in the world with a portfolio of innovative, high-quality, and beloved brands that address the needs of the consumers, customers, and patients we serve. 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 Tilray Brands visit, Tilray.com and follow @Tilray on all social platforms.
Forward-Looking Statements
Certain statements in this communication that are not historical facts constitute forward-looking information or forward-looking statements (together, “forward-looking statements”) under Canadian and U.S. securities laws and within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be subject to the “safe harbor” created by those sections and other applicable laws. Forward-looking statements can be identified by words such as “forecast,” “future,” “should,” “could,” “enable,” “potential,” “contemplate,” “believe,” “anticipate,” “estimate,” “plan,” “expect,” “intend,” “may,” “project,” “will,” “would” and the negative of these terms or similar expressions, although not all forward-looking statements contain these identifying words. Certain material factors, estimates, goals, projections, or assumptions were used in drawing the conclusions contained in the forward-looking statements throughout this communication. Forward-looking statements include statements regarding our intentions, beliefs, projections, outlook, analyses, or current expectations. Many factors could cause actual results, performance, or achievement to be materially different from any forward-looking statements, and other risks and uncertainties not presently known to the Company or that the Company deems immaterial could also cause actual results or events to differ materially from those expressed in the forward-looking statements contained herein. For a more detailed discussion of these risks and other factors, see the most recently filed annual information form of Tilray and the Annual Report on Form 10-K (and other periodic reports filed with the SEC) of Tilray made with the SEC and available on EDGAR. The forward-looking statements included in this communication are made as of the date of this communication and the Company does not undertake any obligation to publicly update such forward-looking statements to reflect new information, subsequent events, or otherwise unless required by applicable securities laws.
For further information, please contact:
Tilray Brands Media: news@tilray.com
Investors: investors@tilray.com
FAQ
What is the new product launched by Tilray Medical in Australia?
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What strains of medical cannabis are available under Tilray's Broken Coast brand in Australia?
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