Tilray Medical signs partnership to expand in Europe
Apr. 06, 2023 9:08 AM ETTilray Brands, Inc. (TLRY), TLRY:CABy: Dulan Lokuwithana, SA News Editor2 Comments
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- Tilray Brands (NASDAQ:TLRY) announced Thursday that its medical cannabis division, Tilray Medical has joined hands with German cannabis distributor Cansativa Group to expand its market presence in Europe.
- The new export and distribution partnership with Cansativa broadens its European footprint across the Czech Republic, Tilray (TLRY) said.
- "We are extremely proud to broaden our distribution across the Czech Republic and offer our EU-GMP certified medicinal cannabis products to help support medical cannabis patients in need," Chief Strategy Officer of Tilray (TLRY), Denise Faltischek, remarked.
- During the first six months of fiscal 2023, TLRY's medical cannabis revenue from Canada fell ~21% YoY to $12.9M, while its international cannabis revenue contracted ~24% YoY to $18.1M.
- Read: Seeking Alpha contributor John Engle argues that while Tilray (TLRY) has turned its attention to overseas markets, its strategies to gain market share in the U.S. "have proven slow and challenging thus far."