- Tilray Medical, a division of Tilray Brands (TSX,NASDAQ:TLRY), is adding new cannabis extract products to its German medical portfolio
- Additions include a high-dose balanced formulation and a trial-size formulation to better meet the needs of patients and physicians
- Tilray is a global lifestyle and consumer packaged goods company focused on cannabis, beverages, wellness and entertainment
- Tilray stock has given back 45.10 per cent year-over-year and 92.88 per cent since 2021
Tilray Medical, a division of Tilray Brands (TSX,NASDAQ:TLRY), is adding new cannabis extract products to its German medical portfolio. Additions include:
- Tilray THC50 CBD50 (25 ml): A high-potency and balanced medical cannabis extract for those looking for a stronger therapeutic effect tempered by CBD. According to Tuesday’s news release, balanced extracts are one of the most prescribed in Germany.
- Tilray THC10 CBD10 (10 ml): A trial-size version of Tilray Medical’s top-selling medical cannabis extract, following patient and physician demand for smaller formats to broaden range of dosing and access to treatment.
- The new SKUs join Tilray Medical’s existing portfolio, consisting of:
- Tilray THC10 CBD10 25 ml & 10 ml.
- Tilray THC50 CBD50 25 ml.
- Tilray THC25 CBD25 25 ml.
- Tilray THC25.
- Tilray THC5 CBD20.
- Tilray THC20 CBD6.
A report by Prohibition Partners estimated that German medical cannabis sales would exceed €420 million in 2024 and surpass €1 billion by 2028. The tailwind has prompted other notable names to enter the space, such as High Tide and MediPharm Labs.
Aligning itself with broader growth trends has been parent company Tilray Brands’ M.O. since inception, almost quadrupling revenue from US$210.48 million in 2020 to US$788.94 million in the fiscal year ended May 2024, with operations on track for an over US$800 million year through Q1 and Q2 2025.
While an overriding focus on market share has made Tilray one of the largest cannabis companies in the world, its strategy has yet to show evidence of a path to profitability, posting approximately US$3 billion in net losses since 2020.
Leadership insights
“Our unwavering focus on innovation and education, together with our dedication to patient care, drives everything we do,” Denise Faltischek, Tilray Brands’ chief strategy officer and head of international, said in a statement. “Because of this, physicians and patients around the world trust the efficacy and safety of our products, which is evidenced by our position as the leading provider of medical cannabis extracts in Germany. In consultation with healthcare providers, we continuously evaluate our portfolio and are developing new innovations, including these new product launches to meet diverse patient needs.”
About Tilray Brands
Tilray is a global lifestyle and consumer packaged goods company focused on cannabis, beverages, wellness and entertainment. The company’s platform supports over 40 brands in over 20 countries.
Tilray stock (TSX:TLRY) last traded at C$1.40 per share. The stock has given back 45.10 per cent year-over-year and 92.88 per cent since 2021.
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(Top photo: Tilray Medical Germany)