On December 11, Tilray’s (TLRY) wholly-owned subsidiary, Tilray Portugal, received an additional GMP (Good Manufacturing Practice) certification. The facility received its first GMP certificate in May 2019. The company can now export finished medical cannabis products to European markets.
Tilray’s Portugal certification
Tilray Portugal, a wholly-owned subsidiary of Tilray, received its GMP certificate in line with EU standards. The company received the certificate for its production facility located in Cantanhede, Portugal. The Portuguese National Authority of Medicines and Health Products issued the certificate. It allows the facility to produce and export finished medical cannabis products that are GMP certified. These cannabis products include oils and dried flowers. Further, the company will export the finished products to other international markets with legal medical cannabis programs.
Tilray’s Portugal production facility has outdoor greenhouse spaces and labs for research and quality control. The facility also has production, packing, and distribution spaces for medical marijuana products. Tilray’s Portugal facility also supports its clinical research and product developments. The company expects to harvest multiple times at this facility in the coming months.
Tilray Portugal got its manufacturing license in May 2019. It also received its first GMP certification. The initial certification allowed the company to produce and export dried cannabis products. These dried flowers are raw materials for producing other cannabis products. Tilray Portugal made its first export in September 2019, when it exported the largest European wholesale shipment of medical cannabis to Germany. In addition to this, the recent additional GMP certification will allow the company to supply pharmaceutical-grade oils and dried flowers to international markets. With the new certification, the company can export finished medical cannabis products.
The company currently has two GMP-certified facilities, which management believes will help its global expansion strategy. With the newly certified production facility, the company can also produce a wide range of medical cannabis products to export internationally. Further, the company believes its expansion will help it attain profitability and increase its shareholder value.
Brendan Kennedy, Tilray’s CEO, said, “We are pleased with the continued momentum of our growth strategy across Europe with this additional GMP certification for Tilray’s EU campus in Portugal.”
Tilray also has plans to supply medical cannabis throughout Germany and other cannabis markets in Europe. The company is already working on setting up sales and distribution arrangements through pharmaceutical distribution channels. These arrangements will help patients to get the company’s finished medical cannabis.
Sascha Mielcarek, Tilray’s Managing Director in Europe, said, “We now have two GMP-certified facilities to service our global expansion strategy. We’re pleased to have the ability to export our leading medical cannabis flower and oil products to international markets.”