Tilray Will Quintuple Its Medical Marijuana Production In Germany With New Cultivation License
Portfolio Pulse from Jelena Martinovic
Tilray Brands, Inc. (NASDAQ:TLRY) announced that its German facility, Aphria RX GmbH, has obtained a new cannabis cultivation license under Germany's new Cannabis Act. This license will allow Tilray to quintuple its medical marijuana production in Germany, expanding from three to 31 approved strains. The new law also partially legalizes recreational cannabis in Germany.
July 22, 2024 | 5:05 pm
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Tilray Brands, Inc. (NASDAQ:TLRY) has obtained a new cannabis cultivation license in Germany, allowing it to significantly increase its medical marijuana production and expand its product range from three to 31 strains. This development positions Tilray to capitalize on Germany's partially legalized cannabis market.
The new cultivation license allows Tilray to quintuple its production capacity and expand its product range, which is likely to boost revenues and market share in Germany's growing cannabis market. The partial legalization of recreational cannabis further enhances growth prospects.
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