Following hosting a ribbon cutting ceremony and regional government tour for the company’s Portuguese campus, Tilray Inc. (NASDAQ: TLRY) is pleased to announce that the Cantanhede-primarily based greenhouse just received new certification to boost its export alternatives.
The facility is operated by means of subsidiary Tilray Portugal Unipessoal Lda, and as of currently officially meets European Medicines Agency’s (EMA) requirements to be granted a manufacturing license and Excellent Manufacturing Practices (GMP) certification.
With that certification in hand, the Biocant Park cultivation web-site will now be capable to distribute health-related marijuana by means of European Union members states and non-EU nations that recognize the GMP requirements.
Discussing this milestone towards development abroad, Tilray’s Managing Director of Europe Sascha Mielcarek commented:
We’re proud to boost our international export capacity and are seeking forward to exporting cannabis as active substances from our campus to legal jurisdictions in the EU and other international markets. The subsequent phase of GMP certification will permit us to make use of the complete capacity of our facility and continue to serve a lot more individuals in-will need.
Tilray’s production campus in Portugal presently functions 250,000 sq. ft. of space and has noticed a $20 million investment from the firm, with the workforce not too long ago bumped up to a complete 100 workers. In addition to cannabis cultivation, the web-site also contains space for investigation and improvement, with Tilray expecting to hit 200 workers at the facility by the finish of the calendar year.
Main Canadian licensed producers such as Tilray have increasingly looked to international operations in current months as health-related marijuana restrictions are eased in the European Union. The European health-related cannabis marketplace is forecast to hit $65.six billion by the year 2028, and organizations with current infrastructure and understanding are moving promptly to capitalize on that projection.
Back in February, competing Canadian licensed producer Aurora Cannabis Inc. (TSX: ACB NYSE: ACB) snapped up Portuguese health-related cannabis supplier Gaia Pharm Lda, which was renamed to Aurora Portugal.
On the Canadian side of operations, Tilray also not too long ago announced a $32.six million investment towards expanding production capabilities at websites situated in Nanaimo, British Columbia and London, Ontario. That investment will also see expansion from the company’s current acquisition Higher Park Gardens.