Tilray Receives First New Cannabis Cultivation License in Germany Under New Regulations
Tilray Brands, Inc. (Nasdaq: TLRY; TSX: TLRY) has announced that its German subsidiary, Aphria RX GmbH, has received the first new cannabis cultivation license under Germany's new Cannabis Act (MedCanG). This license allows Aphria RX to increase production by approximately 5 times and introduce new strains, enhancing patient access across Germany.
Key points:
- Aphria RX can now cultivate and manufacture a broader range of medical cannabis
- The facility can expand from 3 to 31 approved strains
- Aphria RX was designed with guidance from Kevin Anderson of Broken Coast Cannabis
- The new license positions Tilray to capitalize on Germany's growing medical cannabis market
This development is expected to significantly improve access to high-quality, German-produced medical cannabis for patients nationwide.
Tilray Brands, Inc. (Nasdaq: TLRY; TSX: TLRY) ha annunciato che la sua filiale tedesca, Aphria RX GmbH, ha ricevuto la prima licenza per la coltivazione di cannabis ai sensi della nuova legge sulla cannabis tedesca (MedCanG). Questa licenza consente ad Aphria RX di aumentare la produzione di circa 5 volte e di introdurre nuove varietà, migliorando l'accesso dei pazienti in tutta la Germania.
Punti chiave:
- Aphria RX può ora coltivare e produrre una gamma più ampia di cannabis medica
- La struttura può espandersi da 3 a 31 varietà approvate
- Aphria RX è stata progettata con la guida di Kevin Anderson di Broken Coast Cannabis
- La nuova licenza posiziona Tilray per capitalizzare il crescente mercato della cannabis medica in Germania
Questo sviluppo dovrebbe migliorare notevolmente l'accesso a cannabis medica di alta qualità, prodotta in Germania, per i pazienti a livello nazionale.
Tilray Brands, Inc. (Nasdaq: TLRY; TSX: TLRY) ha anunciado que su filial alemana, Aphria RX GmbH, ha recibido la primera licencia de cultivo de cannabis bajo la nueva Ley de Cannabis de Alemania (MedCanG). Esta licencia permite a Aphria RX incrementar la producción en aproximadamente 5 veces e introducir nuevas variedades, mejorando el acceso de los pacientes en toda Alemania.
Puntos clave:
- Aphria RX ahora puede cultivar y manufacturar una gama más amplia de cannabis medicinal
- La instalación puede expandirse de 3 a 31 variedades aprobadas
- Aphria RX fue diseñada con la orientación de Kevin Anderson de Broken Coast Cannabis
- La nueva licencia posiciona a Tilray para capitalizar el creciente mercado de cannabis medicinal en Alemania
Se espera que este desarrollo mejore significativamente el acceso a cannabis medicinal de alta calidad, producido en Alemania, para los pacientes en todo el país.
틸레이 브랜드(주) (Nasdaq: TLRY; TSX: TLRY)는 자사의 독일 자회사인 Aphria RX GmbH가 독일의 새로운 대마초 법(메드칸그) 하에 첫 번째 대마초 재배 라이센스를 받았다고 발표했습니다. 이 라이센스는 Aphria RX가 생산량을 약 5배 증가시킬 수 있도록 해주며, 새로운 품종을 도입하여 독일 전역의 환자 접근성을 높입니다.
주요 사항:
- Aphria RX는 이제 보다 넓은 범위의 의료용 대마초를 재배하고 제조할 수 있습니다.
- 시설은 3개의 품종에서 31개의 승인된 품종으로 확장할 수 있습니다.
- Aphria RX는 Broken Coast Cannabis의 Kevin Anderson의 지침을 받아 설계되었습니다.
- 새로운 라이센스는 틸레이가 독일의 성장하는 의료용 대마초 시장을 활용할 수 있는 기반을 제공합니다.
이번 발전은 전국의 환자들이 독일에서 생산된 고품질 의료용 대마초에 더 쉽게 접근할 수 있도록 크게 개선할 것으로 기대됩니다.
Tilray Brands, Inc. (Nasdaq: TLRY; TSX: TLRY) a annoncé que sa filiale allemande, Aphria RX GmbH, a reçu la première nouvelle licence de culture de cannabis dans le cadre de la nouvelle loi sur le cannabis en Allemagne (MedCanG). Cette licence permet à Aphria RX d'augmenter sa production d'environ 5 fois et d'introduire de nouvelles variétés, améliorant ainsi l'accès des patients à travers l'Allemagne.
Points clés :
- Aphria RX peut désormais cultiver et fabriquer une gamme plus large de cannabis médical
- Les installations peuvent s'étendre de 3 à 31 variétés approuvées
- Aphria RX a été conçue avec l'orientation de Kevin Anderson de Broken Coast Cannabis
- La nouvelle licence positionne Tilray pour tirer parti du marché croissant du cannabis médical en Allemagne
Ce développement devrait améliorer de manière significative l'accès à un cannabis médical de haute qualité, produit en Allemagne, pour les patients à l'échelle nationale.
Tilray Brands, Inc. (Nasdaq: TLRY; TSX: TLRY) hat bekannt gegeben, dass ihre deutsche Tochtergesellschaft, Aphria RX GmbH, die erste neue Lizenz zur Cannabisproduktion gemäß dem neuen deutschen Cannabisgesetz (MedCanG) erhalten hat. Diese Lizenz ermöglicht es Aphria RX, die Produktion um das Fünffache zu steigern und neue Sorten einzuführen, wodurch der Zugang der Patienten in ganz Deutschland verbessert wird.
Wichtige Punkte:
- Aphria RX kann nun ein breiteres Spektrum an medizinischem Cannabis anbauen und herstellen
- Die Einrichtung kann von 3 auf 31 genehmigte Sorten erweitert werden
- Aphria RX wurde mit Unterstützung von Kevin Anderson von Broken Coast Cannabis entworfen
- Die neue Lizenz positioniert Tilray, um vom wachsenden Markt für medizinisches Cannabis in Deutschland zu profitieren
Diese Entwicklung wird voraussichtlich den Zugang zu hochwertigem, in Deutschland produziertem medizinischem Cannabis für Patienten im ganzen Land erheblich verbessern.
- Received first new cannabis cultivation license under Germany's MedCanG
- Allowed to increase production by approximately 5 times
- Can expand from 3 to 31 approved cannabis strains
- Positioned to capitalize on Germany's growing medical cannabis market
- Facility designed with guidance from renowned cannabis grower of Broken Coast
- None.
The new cultivation license for Tilray’s Aphria RX in Germany is a significant development with clear financial implications. This license allows for a fivefold increase in production capacity, which translates directly into higher potential revenue streams. The ability to cultivate and distribute a broader range of cannabis strains can attract a wider customer base and improve market penetration, especially as the demand for medical cannabis continues to rise in Germany.
From a financial standpoint, expanding the product portfolio to 31 strains from just three previously can diversify risk and reduce dependency on fewer high-performing strains. This strategic move can stabilize revenue by mitigating the impact of any single strain's underperformance. Furthermore, the premium craft grower status of Aphria RX, guided by an expert like Kevin Anderson, can justify higher pricing, boosting profit margins.
Investors should view this news as a potential catalyst for Tilray’s stock, primarily because the increased production capacity and expanded product offerings are likely to translate into higher sales and profitability in the coming quarters.
The German medical cannabis market is expanding rapidly, driven by regulatory changes under the MedCan-G Bill. Tilray’s receipt of the first new cultivation license positions the company favorably within this growing market. The increasing number of patients and prescribers indicates rising acceptance and demand for medical cannabis, suggesting a positive market sentiment.
Tilray's ability to leverage an expanded genetic portfolio aligns well with market trends favoring variety and specialized strains. This strategic advantage can help Tilray capture a more significant share of the market by meeting diverse patient needs. Additionally, the company’s established reputation and expanded capacity will likely enhance its competitive positioning against other market players.
Long-term, Tilray’s leadership in the German market could serve as a case study, facilitating easier entry into other European markets with emerging medical cannabis regulations. This broader market strategy can provide sustained growth opportunities for the company over time.
From a medical perspective, Tilray's expanded cultivation capabilities in Germany mean better access to high-quality medical cannabis for patients. The ability to grow 31 different strains allows for more personalized treatment options, catering to specific medical needs and conditions. This is important in medical cannabis, where different strains can have varied therapeutic effects.
Moreover, the expertise of Kevin Anderson in guiding the cultivation process ensures that the quality of cannabis produced will likely be high, maintaining consistency and potency, which are critical for medical use. The expansion can also facilitate more comprehensive clinical trials and research, further establishing medical cannabis as a viable treatment option for numerous conditions.
For patients, this development signifies improved access to a broader range of treatment options, potentially leading to better health outcomes. In the long run, Tilray's advancements in cannabis cultivation could contribute significantly to the body of evidence supporting the medical use of cannabis, influencing global medical cannabis policies and practices.
Tilray's Aphria RX Facility in Germany Granted New Cannabis Cultivation License, Allowing for ~5x Production Increase and New Strains to Enhance Patient Access Across the Country
Aphria RX Designed with Guidance from Renowned Cannabis Grower of Broken Coast Cannabis
NEUMÜNSTER, Germany, July 22, 2024 (GLOBE NEWSWIRE) -- Tilray Brands, Inc. (“Tilray”) (Nasdaq: TLRY; TSX: TLRY), a global leader in cannabis research, cultivation, production, and distribution, today announced that its Germany cannabis cultivation facility, Aphria RX GmbH (“Aphria RX”), has received the first new cannabis cultivation license issued under MedCanG, Germany’s new Cannabis Act. The new cannabis cultivation license allows Aphria RX to cultivate and manufacture a broad commercial range of medical cannabis, providing patients with better access to high-quality medical cannabis produced in Germany.
Tilray’s Chief Strategy Officer and Head of International, Denise Faltischek, commented: “We are thrilled to receive this license as it will provide greater access to some of the highest quality medical cannabis produced in Germany and enable us to expand the range of treatment options available to patients. We appreciate the trust that the German Government has placed in Tilray, and we are proud of our team for their groundbreaking work in medical cannabis cultivation and patient care.”
In May 2019, Aphria RX was awarded the most comprehensive license for the cultivation of medical cannabis in Germany from the German Federal Institute for Drugs and Medical Devices (the "BfArM"), having been awarded a total of five lots (1,000 kgs) and was the only licensed producer in Germany with permission to grow all three strains of medical cannabis approved by the BfArM.
The introduction of the MedCan-G Bill in Germany has led to a significant increase in the number of patients and prescribers for medicinal cannabis. With the new cannabis license, Tilray is well-positioned to take full advantage of the market opportunity. Additionally, Aphria RX can now fully utilize and maximize its growing capacity while also expanding its genetics to a total of 31 approved strains from the previously approved three strains. Originally designed with guidance from Kevin Anderson, the renowned cannabis grower of Broken Coast, Aphria RX can now replicate the growing conditions at Broken Coast, maximizing Aphria RX's potential as a premium craft grower.
As a leader in the field of medical cannabis research and production, Tilray strongly believes that these developments will have a positive impact on the health and well-being of many patients in Germany. We look forward to exploring the path opened by the German government and all stakeholders in promoting improved access to medical cannabis, and the opportunity to optimize care for our patients.
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 Medical 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 biggest suppliers of medical cannabis brands to patients, physicians, hospitals, pharmacies, researchers, and governments, in over 20 countries and across five continents.
Further information can also be found at www.tilraymedical.de
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 how we open a world of wellbeing, visit, Tilray.com and follow @Tilray on all social platforms.
Forward-Looking Statements
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FAQ
What new license did Tilray's Aphria RX receive in Germany?
How much can Tilray (TLRY) increase its cannabis production in Germany with the new license?
How many cannabis strains can Tilray (TLRY) now cultivate in Germany?