- Tilray Brands (TSX:TLRY) subsidiary, Tilray Medical, has launched Redecan-branded medical cannabis in Australia
- Products initially on offer include Redecan THC28 Purple Churro and Redecan THC28 Space Age Cake, both in 15 g packages
- Tilray Brands is a global cannabis and consumer packaged goods company supporting more than 40 brands in more than 20 countries
- Tilray stock has given back 27.76 per cent year-over-year and 87.35 per cent since 2019
Tilray Brands (TSX:TLRY) subsidiary, Tilray Medical, has launched Redecan-branded medical cannabis in Australia.
The subsidiary is currently offering two EU-GMP-certified products under the iconic Canadian brand to patients in The Land Down Under:
- Redecan THC28 Purple Churro (15 g).
- Redecan THC28 Space Age Cake (15 g).
The expansion strengthens Tilray’s role as a leading provider of EU-GMP-certified medical cannabis to patients, physicians, pharmacies, hospitals, governments and researchers worldwide in more than 20 countries. The company has also supported medical trials globally studying cannabis as a treatment for fibromyalgia, pediatric epilepsy, refractory pediatric epilepsy, cancer-induced nausea and vomiting, HIV, essential tremor, breast cancer disorders, post-traumatic stress disorder and alcohol-use disorders.
From a shareholder-value perspective, Tilray has almost quadrupled revenue over the past five years, generating US$210.48 million in fiscal 2020 and US$788.94 million in fiscal 2024, supported by an approximately 10x jump in gross profitability. That said, the cannabis company has been unable to translate its greater market share into net income, posting only net losses since 2020.
Leadership insights
“The launch of Redecan, a premium cannabis brand, in Australia is another significant milestone for Tilray Medical, as we relentlessly pursue our vision of making high-quality medical cannabis products accessible to patients worldwide,” Denise Faltischek, Tilray’s chief strategy officer and head of international, said in a statement. “The launch of Redecan further expands our medical cannabis portfolios alongside our current Tilray and Broken Coast offerings, as we continue our mission of empowering patients and healthcare practitioners to find the optimal therapeutic solutions.”
“We are proud to launch Redecan in Australia and further strengthen our ongoing commitment to providing patients with a consistent, accessible supply of premium quality medical cannabis to choose from,” added Jonathan Trodden, director at Tilray Medical Australia.
About Tilray Medical
Tilray Medical built Europe’s first EU-GMP-certified cannabis production facilities in Portugal and Germany and was one of the first companies to become a licensed producer of medical cannabis in Canada.
About Tilray Brands
Tilray Brands is a global cannabis and consumer packaged goods company supporting more than 40 brands in more than 20 countries.
Tilray stock (TSX:TLRY) is up by 0.2 per cent, trading at C$2.48 per share as of 9:32 am ET. The stock has given back 27.76 per cent year-over-year and 87.35 per cent since 2019.
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(Top photo of Redecan cannabis products: Tilray Brands)
