According to Germany's new cannabis law,$Tilray Brands (TLRY.US)$Received its first new cannabis cultivation license in Germany. The new regulation allows Tilray Aphria RX factory to cultivate and produce a wide range of commercial and medical cannabis, resulting in an increase in production of about 5 times.
The company stated that before this, Tilray Brands had obtained a license from the German Federal Institute for Drugs and Medical Devices, which allowed the cultivation of all three approved medical cannabis strains in Germany. It added that with the new license, Tilray can now expand its product range to 31 strains.
Denise Faltischek, Tilray's Chief Strategy Officer and International Executive, commented: "We are pleased to receive this license as it will make it easier for people to access some of the highest quality medical cannabis produced in Germany and allow us to expand treatment options for patients."