Company Applauds Expansion of Insurance Coverage to Include Extracted Products
Tilray, Canada's leading licensed producer of high quality medical cannabis, today reaffirmed its support for Canadian veterans following a new medical cannabis reimbursement policy announced by Veterans Affairs Canada (VAC). The company also applauded the Minister of Veterans Affairs for expanding insurance coverage for veterans to include extracted cannabis products, an issue which Tilray has been a leader in advocating for in partnership with the Canadian Medical Cannabis Council. Earlier this year, Tilray affirmed its support for a CMCC e-petition that encouraged VAC to cover the cost of cannabis extract products for veterans.
As announced today, VAC's new reimbursement policy on medical cannabis established a reimbursement limit of three grams per day for dried cannabis products or the equivalent value in cannabis oil. Veterans who are currently being reimbursed for more than three grams per day will have until May 21, 2017 at their current authorized amount. An exceptional circumstances process will be available for veterans to receive authorization from their medical specialists to receive more than the three grams per day limit if deemed appropriate. VAC's new policy also establishes a reimbursement cap of up to $8.50 per gram or the equivalent value in cannabis oil.
In light of this announcement, Tilray is proud to reaffirm its commitment to serving Canada's veterans. Tilray will continue to offer Canadian veterans insured by VAC uninterrupted access to the company's high quality medical cannabis products up to their currently authorized daily limit. In addition to dried flower products, Canadian veterans insured by VAC will now be able to order any of Tilray's extracted products up to their currently authorized daily limit as well. Further, Tilray will offer VAC patients a dedicated customer service representative who can help them navigate these changes, including assisting patients in understanding the exceptional circumstances process for working with their health care provider to ensure that patients who require a higher daily limit will be able to access it.
"We recognize the changes announced today will impact many of the veterans who rely on us. We are committed to supporting our veteran patients as they navigate these changes by ensuring uninterrupted access to our high quality products," said Philippe Lucas, Tilray's Vice President of Patient Services. "We are pleased the federal government has expanded insurance coverage for veterans to include extracted products and look forward to offering these products to our veteran patients."
Tilray recognizes the importance of medical cannabis as an evolving treatment area for veterans, which is why the company has partnered with the University of British Columbia to launch Canada's first clinical trial to evaluate the therapeutic potential of medical cannabis as treatment for post-traumatic stress disorder (PTSD). PTSD is a psychiatric disorder that can occur following the experience or witnessing of a life-threatening event such as military combat. Research suggests that PTSD affects up to 10 percent of Canadian war zone veterans.
Tilray is a global leader in medical cannabis research and production dedicated to advancing the science, safety and efficacy of cannabinoid medicine for patients with a diverse range of conditions. The company operates one of the largest and most sophisticated federally licensed medical cannabis cultivation facilities in the world, offering a range of products to patients, pharmacies and researchers in Canada, Australia, the European Union and the Americas.