Tilray Inc (NASDAQ: TLRY) has expanded its international operations to now include France. The company this morning revealed that it was selected by the French National Agency for the Safety of Medicines and Health Products to supply medical cannabis for experimentation in France.
The new development will see the company supply GMP-produced medical cannabis products to patients for the duration of the medical cannabis experiment in France, which is expected to take between 18 and 24 months. The first products are expected to be delivered within the first quarter of 2021.
The company currently intends to export medical cannabis from its facility in Portugal, with the necessary permits already having been received. With the facility being deemed as a hub for clinical research and product development in Europe, it’s located in an ideal location relative to its peers to take advantage of the French experiemtn.
The experiment itself will see qualifying patients administered medical cannabis for those of whom are not seeing sufficient relief from symptoms. Current indications approved for the experiment include certain forms of epilepsy, palliative care situations, certain symptoms of oncology related to cancer treatment, neuropathic pain, and painful spasticity of multiple sclerosis or other pathologies of the nervous system.
Tilray Inc last traded at $17.19 on the Nasdaq.
Information for this briefing was found via Sedar and Tilray. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
