Tilray shares closed the regular session Tuesday down 2.1% to $29.30. Tilray will grow, harvest and dry medical cannabis materials at the additional site that will then be transported to Tilray’s EU Campus in Portugal for processing, manufacturing and distribution across Europe and other international markets. The site currently employs more than 150 people, with production ramping up and multiple harvests anticipated in the coming months. To date, Tilray has invested approximately €20 million in the facility.Tilray’s EU Campus also serves as a hub supporting Tilray’s clinical research and product development efforts across Europe.
The GMP certification was issued by Infarmed, the Portuguese National Authority of … “Back in September of 2015, I set out in search of a license to cultivate, process, package and distribute medical cannabis somewhere outside of Canada. Esporão will provide operational and technical support at the site to a team of Tilray experts, including master horticulturists, growers and quality assurance managers. He said France is likely to pass a medical pot law in the next six to 12 months.“It doesn’t make sense, to you know, for a patient in Germany and France to have access to medical cannabis and a patient in Spain not to have access,” he said. We were the first Canadian [licensed producer] to have a license somewhere else in the world, and that was in Portugal, [which] issued their first THC cannabis cultivation license. Tilray’s facility in Portugal is expected to receive Good Manufacturing Practice (GMP) certification in the coming months, which the Canada-based cannabis company says will open the door for the first shipments from its European facility as early as this summer. Tilray is leasing the land from Esporão, one of the largest and most sophisticated agricultural businesses in Portugal. Tilray was the first company to legally export medical cannabis products from North America to Europe.
Tilray® Increases International Export Capacity with New Outdoor Cultivation Site in Portugal Tilray® Imports GMP-Certified CBD into the U.S. for Two Clinical Trials Led by NYU School of MedicineTilray® Imports GMP-Certified Standardized Medical Cannabis Oil into Ireland The entire outdoor cultivation site was successfully planted in July and a harvest is expected in fall 2019. The facility is roughly 2.5 million square feet that includes both cultivation and processing operations. Export to Israel originates from Tilray’s Portugal facility; Tilray now exports medical cannabis to 15 countries worldwide. In April 2019, Tilray hosted an official ribbon-cutting ceremony celebrating the grand opening of its EU Campus. “And so you’ll start to see modularity across all the member states.”Globally, Kennedy says that he expects four countries to legalize pot for adult recreational use in the near future: Luxembourg, Portugal, Mexico and New Zealand.Kennedy said Tilray expects to recognize the revenue from the Germany deal in the third quarter but it could be pushed to the fourth, depending on logistics, and he said the company would update investors when it ships the pot.The company’s stock has struggled this year, falling nearly 60%. Kennedy said that the framework for Germany would likely be replicated across the European Union and he expects 14 additional countries to put together medical cannabis regulations. From cultivation to shipping, Tilray's team brings precision, professionalism and care to each stage of the process. (“Tilray Portugal”) has received a Good Manufacturing Practice (GMP) certification in accordance with European Union standards, for its manufacturing facility in Cantanhede, Portugal. The ETFMG Alternative Harvest ETF Tilray owns and operates global subsidiaries to serve the medical cannabis market in jurisdictions where it is legal and regulated:
Tilray also has a cultivation license from the Government of Portugal to produce products for the EU market. U.S.-listed EV stocks we track, excluding Tesla, are worth some $30 billion, more than Ford Motor. Tilray choreographs a complex series of cutting-edge processes to deliver unparalleled product to its patients. Tilray products are currently available at pharmacies in countries throughout the EU. (“Tilray Portugal”) has received a Good Manufacturing Practice (GMP) certification in accordance with European Union standards, for its manufacturing facility in Cantanhede, Portugal. In May 2019, Tilray Portugal received its manufacturing license and initial GMP-certification, allowing the company to manufacture and export GMP-certified dried cannabis as an active substance for medical products.