- CEO:Brendan Kennedy
Tilray (NASDAQ:TLRY) Stock Price
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Tilray (NASDAQ:TLRY) Company Overview
Tilray Inc (NASDAQ:TLRY) is a global pioneer in the research, cultivation, production and distribution of cannabis and cannabinoids, and currently serves tens of thousands of patients and consumers, in 13 countries spanning five continents. The company operates an asset-light model, meaning that it prefers to spend its capital further down the value chain.
And the further down the value chain you go, the closer you come to the brands and consumers. And for Tilray it's all about the brands. The company is brand-centric across both its medicinal and recreational cannabis markets.
Tilray made history in September 2018, when it became the first Canadian cannabis company to legally export medical cannabis to the U.S. for a clinical trial. Its medicinal brands are now imported into 13 countries with that number set to double in the coming 24 months.
The company has gone from strength to strength, and last year signed a deal with Novartis AG's subsidiary Sandoz to sell, distribute and co-brand Tilray's non-smokeable/non-combustible medical cannabis products in medicinally legal markets worldwide.
In order to take advantage of Canada becoming only the second country in the world to legalise cannabis for adult-use, TLRY announced the launch of the High Park Company – a recreationally-focussed company supplying various brands and form factors in the market.
High Park in a joint venture with AB InBev, founded Fluent, which will target the cannabis beverages market – one that has great excitement and optimism associated with it. Tilray also did a deal with the Authentic Brands Group (ABG) whereby they become the exclusive supplier of CBD-derived and infused products, which can then be distributed through the various brands in the ABG's portfolio.
Tilray's European base is in Portugal where they have a 2.5 million square foot facility that will be their production hub for the distribution of their product into Europe and globally. Tilray also recently partnered with Cannamedical Pharma GmbH, through its wholly-owned subsidiary, Tilray Portugal, to export a wholesale shipment of USD$3.3 million worth of medical cannabis from Portugal to Germany.
Tilray opened the US up with its acquisition of Manitoba Harvest, a hemp food company, that supplies nearly 70% of the US's hemp food. This acquisition gave them immediate access to 13,500 retail outlets across the US, including Walmart and Costco. Tilray has now launched a hemp-derived CBD range that will be distributed through the Manitoba network.
- Address:1100 Maughan Road, Nanaimo, BC V9X IJ2, Canada
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