Canada-based cannabis producer Tilray Brands recently announced that it was increasing its cultivation footprint in Europe and Canada as demand for medical marijuana continues to rise across regulated markets.
According to the company, its yearly production capacity has increased to roughly 275 metric tons, compared with about 210 tons previously. The additional capacity is expected to support expanding sales in overseas markets, particularly across Australia, Europe, and other jurisdictions with established cannabis regulations.
The higher output is being generated at two locations: Tilray’s cultivation operation in Quebec and its European Union Good Manufacturing Practice (EU-GMP)-certified site in Portugal. Currently, Tilray ships cannabis from Quebec to facilities in Australia and Portugal.
The company also expects its Canadian cultivation site to obtain EU-GMP certification within the coming year, a step that would help it meet the manufacturing and quality requirements applied to products entering European markets.
The expansion reflects a wider push by North American marijuana businesses to establish stronger positions in Europe as medical marijuana programs continue to develop. Germany and the United Kingdom have become important targets as their medical cannabis sectors mature, while other European markets are also developing legal frameworks and increasing patient access.
Tilray Chief Executive Irwin Simon said the company’s international network was designed to support long-term expansion as global demand increases. He pointed to the company’s production scale and international infrastructure as key elements of its strategy.
Other major cannabis companies are also strengthening their European operations. Aurora Cannabis, for example, recently announced a $2.8 million cash acquisition of two UK-based businesses: HAP Pharma and Internode Pharma.
Aurora Chief Executive Miguel Martin said the acquisition would help the company use its regulatory and commercial capabilities to expand its presence in the UK. He also said the deal was intended to provide UK patients with a dependable supply of medical marijuana products.
Aurora is considering additional investments aimed at increasing its distribution capabilities in the UK and across Europe, Martin said.
For Tilray, Portugal remains a central part of its European supply network, with products distributed from the country to the UK, Germany, and other legal marijuana markets. The company said its Aphria RX facility in Germany is operating at full capacity, while its newly introduced ARX brand has received an encouraging early response from patients.
Tilray Medical currently serves government agencies, patients, researchers, doctors, hospitals, and pharmacies across 20 countries, according to the operator.
As these early movers in the EU market cement their presence, it may be just a matter of time before other firms like Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF) also ramp up their expansion into emerging international markets for regulated marijuana products.
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