Comments on Spain & full PR / IMO it will take 1 - 2 Yrs before this announcement has "revenue implications". How long is testing? What are they testing for?
This is terrific over the horizon news. Let's all hope that more Spanish bio-companies and throughout the EU jump on the medical cannabis bandwagon, and that EU countries move towards legalization.
Right now the overall EU cannabis revenues lag far behind Canadian cannabis revenues. More products need approval, and more pharmacies need to carry them.
Cost reductions from synergies, Aphria's magic with Tilray's brands, USA legalization and for now Sweetwater are Aphria's/Tilray's keys. - FUNMAN
--->>> Tilray® Exports First Shipment of Medical Cannabis to Spain
Worldpharma Biotech will produce the first medical cannabis products for clinical trials in Spain with Tilray GMP-certified medical cannabis
Tilray medical cannabis will now be available in 17 countries around the world
NANAIMO, British Columbia--(BUSINESS WIRE)--Feb. 4, 2021-- Tilray, Inc. (NASDAQ: TLRY), a global pioneer in cannabis research, cultivation, production, and distribution, today announced it has agreed with Worldpharma Biotech ("Worldpharma"), through its wholly-owned subsidiary Tilray Portugal Unipessoal Lda. (“Tilray Portugal”), to export Good Manufacturing Processes (GMP) certified medical cannabis from Portugal to Spain. The shipment marks the first medical cannabis import into Spain by Worldpharma and the 17th country to receive Tilray medical cannabis worldwide.
The Agencia Española de Medicamentos y Productos Sanitorios (AEMPS), Spain’s food and drug administration, has approved Worldpharma to import Tilray’s GMP-certified medical cannabis as raw material from its Portugal facility to Spain. With Tilray's pharmaceutical-grade cannabis, Worldpharma will develop medical cannabis products for clinical trials in Spanish Hospitals for diseases such as Alzheimer's, Parkinson’s disease, and skin inflammation.
Brendan Kennedy, Tilray’s Chief Executive Officer, said, “We’re incredibly honored to be the first cannabis company to be approved and to ship medical cannabis into Spain. As we continue to work with regulators around the world, we are grateful to partner with the AEMPS and established pharmaceutical leaders such as Worldpharma Biotech on the distribution of Tilray medical cannabis.”
Juan Jose Garcia Miquel, Founder of World Pharma Biotech, said, "We are very happy to initiate a cannabis biomass supply agreement with Tilray to supply our extraction and purification lab with quality GMP certified products that meet the highest of E.U. and Spanish Pharmacology Standards. We intend to work with the companies with the highest quality pharmaceutical standards to give doctors and patients total confidence. It's been impossible to reach this level of quality from other cannabis authorized companies in Spain.”
Sascha Mielcarek, Tilray’s General Manager for Europe, said, “We are very pleased to partner with Worldpharma. Tilray is once again establishing itself as a key player with solid expertise in the service of patient well-being. Throughout its supply chain, Tilray applies the highest medical standards that provide sustainable and safe access to pharmaceutical-grade medical cannabis for patients in need, paving the way for future medical cannabis standards of care.”
Tilray has a pioneering track record as a company committed to making GMP-certified, pharmaceutical-grade medical cannabis products available to patients in need worldwide and was the first to successfully export medical cannabis from North America and import medical cannabis products into the E.U. in 2016.
Tilray's E.U. Campus in Portugal is a multi-faceted production facility that includes research and quality control labs, packaging, and distribution sites for medical cannabis. It also serves as a hub supporting Tilray’s clinical research and product development efforts across Europe. Tilray has established sales and distribution arrangements to supply medical cannabis through major pharmaceutical distribution channels throughout Germany and the E.U., which will serve as a means to allowing patients to access Tilray's GMP-certified finished medical cannabis.
About Tilray®
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 17 countries spanning five continents.
About WorldPharma Biotech
World Pharma Biotech was founded in 2014 in Valencia, Spain, focused on vegetal ingredients for nutraceuticals, cosmetics, and pharmaceutical industries. The company is located in the Scientific Park of the University of Valencia, a center of Spin-off and Start-up companies from Valencia University. The extraction and purification lab's primary focus is the manufacturing of Active Pharmaceutical Ingredients from Cannabis for the European Pharmaceutical and Dermo Cosmetic Industry.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of Canadian securities laws, or collectively, forward-looking statements. Forward-looking statements in this press release may be identified by the use of words such as, "may", "would", "could", "will", "likely", "expect", "anticipate", "believe, "intend", "plan", "forecast", "project", "estimate", "outlook" and other similar expressions. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management's experience and perception of trends, current conditions, and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, including assumptions in respect of current and future European market conditions, the current and future regulatory environment and future approvals and permits. Actual results, performance, or achievement could differ materially from that expressed in, or implied by, any forward-looking statements in this press release, and, accordingly, you should not place undue reliance on any such forward-looking statements, and they are not guarantees of future results. Please see the heading "Risk Factors" in Tilray's Quarterly Report on Form 10-Q, which was filed with the Securities and Exchange Commission on November 9, 2020, for a discussion of the material risk factors that could cause actual results to differ materially from the forward-looking information. Tilray does not undertake to update any forward-looking statements that are included herein, except in accordance with applicable securities laws.
By TPN/Lusa, in Business, Health · 05-02-2021 01:00:00 ·
First cannabis-based substance for medicinal purposes approved The National Authority for Medicines and Health Products (Infarmed) has approved the first substance based on the cannabis plant for medicinal purposes in Portugal.
“This is the first and only cannabis-based preparation or substance for medicinal purposes allowed in our country and we are planning in the near future to make other products accessible to patients in Portugal", says Rita Barata, general director of Tilray Portugal, located in Cantanhede, in the district of Coimbra, in a statement sent to The Portugal News.
According to the official, patient “demands are increasing "and Tilray's mission is to provide the “safest and best quality products that comply with their needs".
In Portugal, the use of preparations and substances based on the cannabis plant for medicinal purposes is, according to Tilray, approved for several situations, "in cases where it is determined that conventional treatments do not produce the expected effects".
Among the various uses are chronic pain (associated with cancer diseases or the nervous system), spasticity associated with multiple sclerosis or spinal cord injuries, nausea and vomiting (resulting from chemotherapy, radiotherapy and HIV combination therapy and medication for Hepatitis C) and appetite stimulation in palliative care of patients undergoing cancer treatments or with AIDS.
"Completion of this [approval] process confirms Tilray's quality and safety standards for production", stresses the statement, adding that "this is the first time that a complete quality dossier is required and delivered to obtain marketing authorisation of a substance based on the cannabis plant".
Sascha Mielcarek, general manager of the company in Europe, points out that Infarmed's authorisation "confirms that Tilray's medical cannabis products are up to the highest national and international standards".
The company is a world pioneer in the research, cultivation, production and distribution of medical cannabis, with its products available in 16 countries worldwide.
The production unit in Cantanhede has all the necessary certifications to grow and produce cannabis-based preparations and substances for medicinal purposes locally and to export finished products with Production Practices certification to the entire European Union and other international markets that use the plant for medical treatments.
2021 is already proving to be a great year for the cannabis industry and Canada has been one of the greatest beneficiaries of this.
So far this year, the merger between Aphria (APHA.TO) (APHA) and Tilray (TLRY) has been one of the most highly discussed topics and investors have been piling into each Canadian Licensed Producer (LP).
In January, Tilray and Aphria were two of the top performing cannabis stocks and the trend has continued into February. Currently, both companies are trading at overbought levels (based on the relative strength index) and we are closely following the trend from here.
We believe the increased interest in both operators is related to the strength of the combined company. We are of the opinion that the combined company will compete with Canopy Growth Corp. (WEED.TO) (CGC) and are bullish on the growth prospects that are associated with it.
The combined company will have a leadership position in several burgeoning international markets, and we consider this to be one of the most exciting aspects of the transaction. Although Tilray and Aphria are both Canadian LPs, the businesses are focused on different aspects of the cannabis value chain and consider this to be an important aspect of the story.
During the last month, Tilray has reported significant announcement as it relates to the cannabis opportunity in the European Union (EU) and we believe this has played an important role in the recent rally. We believe the EU cannabis market is attractive due to the size of it and the economics that are associated with it. When compared to North America, the cost of medical cannabis is much higher in the EU and we attribute this to the market being much less saturated.
Last month, Tilray was selected to participate in a French medical cannabis experiment. A few weeks later, the company received the necessary approvals and market authorization to offer branded medical cannabis products in Portugal. We are favorable on these developments and believe that it is a testament to the strength of Tilray’s medical cannabis business.
Aphria also has attractive leverage to the EU cannabis market and has been highly focused on the opportunity in Germany. The company has substantial distribution capabilities in Germany (and in the EU) and we expect this aspect of the story to play an important role in the growth of the combined company.
Going forward, we will monitor how Tilray and Aphria continue to perform and expect to see leading broker-dealers change their respective price targets on both operators. Following the closing of the acquisition, we expect to see a relatively seamless integration process, and this is a story that our readers need to be aware of.
AUTHORED BY Michael Berger Michael Berger is Managing Partner of StoneBridge Partners LLC. SBP continues to drive market awareness for leading firms in the cannabis industry throughout the U.S. and abroad.
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