Milestone GMP-Certified Medical Cannabis Distributed to German Pharmacies
07/07/2021 — NEW YORK & NEUMÜNSTER, Germany — (BUSINESS WIRE)
Tilray, Inc. (NASDAQ | TSX: TLRY), a global pioneer in cannabis research, cultivation, production, and distribution, today announced that its wholly-owned subsidiary in Germany, Aphria RX GmbH, has completed the first successful harvest of medical cannabis cultivated in Germany for distribution to German pharmacies. The medical cannabis harvest is the first cultivated under European Good Manufacturing Practices (EU GMP) standard at Tilray’s state-of-the-art 6,000 square meter indoor growing facility in Neumünster, Germany. The subsequent distribution, which was carried out by a distributor on behalf of the German Cannabis Agency and in accordance with all pharmaceutical and narcotic legal requirements, underscores Tilray’s strong foothold and operational excellence within Europe’s key medical cannabis market.
“Our harvest in Germany represents an important milestone in granting access to high-quality and trustworthy medical cannabis to patients and healthcare professionals in Germany,” said Denise Faltischek, Tilray’s Head of International and Chief Strategy Officer. “It is a testament to the professionalism and dedication of our team that, despite the challenges of a global pandemic, we remained on track as the first licensed producer to cultivate medical cannabis in Germany. Our achievement would not have been possible without the trust and cooperation of the Federal Institute for Drugs and Medical Devices (BfArM) and the Germany Cannabis Agency, for which we are sincerely grateful.”
Since Germany’s Cannabis as Medicines Act was enacted in March 2017, the country has relied exclusively on imports to meet the growing medical demand currently estimated at well over 100,000 patients. Tilray’s ongoing domestic harvest and production will play an indispensable role in ensuring that patient needs are met with products of the highest quality medical cannabis while at the same time reducing dependence on imported supply.
Irwin D. Simon, Tilray’s Chief Executive Officer, added, “The European Union represents a powerful growth market for us and, among its constituent markets, Germany possesses the greatest potential. We look forward to leveraging our strong medical platform and our multifaceted international operation, which combines in-country cultivation, importation, and large distribution infrastructure, to increase access and availability to high-quality, consistent medical cannabis for all European patients.”
Mr. Simon concluded, “Tilray’s achievement in Germany serves as a strong affirmation that we are competitively differentiated by scale and proven execution skills. As a result, we are poised to transform the industry globally with our highly scalable footprint, portfolio of diverse medical cannabis brands, and compelling products that respond to a wide range of patient and consumer needs. The E.U. is central to our worldwide distribution network, and we look forward to accelerating our progress.”
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 Canada and import medical cannabis products into the E.U. in 2016.
Tilray Inc. 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 the worldwide community to live their very best life by providing them with products that meet the needs of their mind, body, and soul and invoke a sense of wellbeing. Tilray’s mission is to be the trusted partner for its patients and consumers by providing them with 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 alcoholic beverages.
Certain statements in this communication that are not historical facts constitute forward-looking information or forward-looking statements (together, “forward-looking statements”) under Canadian 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. 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 Aphria and the Annual Report on Form 10-K (and other periodic reports filed with the SEC) of Tilray made with applicable securities regulatory authorities and available on SEDAR and 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.
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