GROZNJAN, Croatia—Tilray, a global leader in medical cannabis research and production, today announced that the company has shipped precisely crafted medical cannabis products to Croatia to be dispensed to patients with prescriptions via pharmacies. This marks the first time medical cannabis products containing the active compound tetrahydrocannabinol (THC) are being legally imported into the European Union from North America for commercial medical use. It marks another strategic milestone for Tilray as the company aims to build the world's most trusted and admired medical cannabis brand by offering patients, physicians, researchers and pharmacies pure, precise and predictable products.
Tilray is supplying pharmacies around Croatia with orally administered medical cannabis products through a partnership with the Croatian Institute of Immunology, which will oversee distribution of Tilray products cultivated and processed at the company's federally licensed, state-of-the-art production facility in Canada. After receipt of all necessary approvals and permits from the Croatian and Canadian regulatory authorities, Tilray announced the partnership at Croatia's annual Media and Health Symposium in Grožnjan this morning. Initially, two varieties of Tilray Liquid Capsules will be available in Croatia. One formulation contains 5.0 mg of THC and 5.0 mg of cannabidiol (CBD) per capsule. The other formulation contains 2.5 mg of THC and 2.0 mg of CBD per capsule. The inclusion of both primary cannabinoids ensures maximum therapeutic effect, reduces risk of adverse reactions and enables precise dosage and easy titration.
Professor Ognjen Brborović PhD MD, Chairman of Croatia's Committee for Medical Cannabis, welcomed the arrival of Tilray Liquid Capsules in Croatia. "It took eight months for the Committee for Medical Cannabis to deliver necessary documents needed to change Croatian legislation to get cannabis to Croatian patients. It took another eight months of diligent work with Tilray to secure all certificates and licenses needed to import and distribute cannabinoid preparations into the European Union from Canada and for actual production of the first batch of cannabis extract oil. I am glad that Croatia is the first EU country that will be able to assure patients first-class cannabis extract oil is available in pharmacies. I hope that patients in other EU countries will soon have the same opportunity," Dr. Brborović said.
It is expected that thousands of Croatians could soon benefit from medical cannabis as therapy for conditions including multiple sclerosis, HIV/AIDS, chronic pain, Dravet syndrome, and nausea. Compared to other prescription medicines available in Croatia, medical cannabis offers patients an affordable way to manage symptoms for many different diseases with relatively benign side effects and a good safety profile.
Croatia and the EU join Australia as Tilray's newest markets outside of Canada as the company continues to shape the future of the medical cannabis industry around the globe. This effort to facilitate legitimate medical access further establishes Canada as a leading source of cannabis for medical and scientific applications globally. In May, Tilray received approval from Australia'sTherapeutic Goods Administration and the Queensland Department of Health to begin supplying a patient in Australia with medical cannabis via a federally administered Special Access Scheme. Earlier in the year, Tilray announced a clinical research trial in Australia in partnership with the Government of New South Wales, Chris O'Brien Lifehouse and the University of Sydneyto study the safety and efficacy of medicinal cannabis for patients suffering from chemotherapy-induced nausea and vomiting.
In the coming months, Tilray will announce several additional clinical research partnerships in Australia, Canada and Europe as well as further medical market partnerships in Europe. With today's announcement, Tilray becomes the first Canadian company to export medical cannabis products from the country's federally regulated medical cannabis program.
"We estimate that medical cannabis has the potential to be a $100 billion industry globally. We are excited about the rapid development of the medical cannabis sector in Europe, and we are pleased to be the first company to legally import medical cannabis products into the European Union after meeting all regulatory requirements in Canada and Croatia," said Mr. Brendan Kennedy, Tilray President. "With demand at an all-time high, we look forward to working with the Institute of Immunology to help eligible patients in need access medical cannabis products in Croatia."
Tilray is a global leader in medical cannabis research and production dedicated to advancing the science and safety of cannabinoid medicine for patients with a diverse range of conditions including epilepsy, cancer, chronic pain and multiple sclerosis. The company operates one of the largest and most sophisticated medicinal cannabis research and production facilities in the world and offers pharmaceutical grade medical cannabis products to patients, pharmacies and researchers inAustralia, Canada, the European Union and the Americas. Learn more at www.tilray.com.
Sean Carney, Director of European Business Development