Founded in 2013, Canadian company, Tilray is recognised as the first medical cannabis producer to be GMP certified in North America in late 2016.
The GMP certification stands for “Good Manufacturing Practice” and is associated in the current cannabis regulations that aim to protect public health and safety by rigorous and comprehensive quality checks.
These ensure that products are produced according to the quality standards that are related to many aspects of the production process such as storage, materials, equipment, staff training, hygiene and much more.
Tilray mostly makes money from growing, processing and selling cannabis in Canada. It also serves other countries where the company is legally allowed to export medical cannabis from North America such as Australia, New Zealand, South Africa, Argentina, Chile, United Kingdom, Germany, Croatia, Czech Republic and Cyprus.
- Tilray filed its IPO offering in June 2018 on the Nasdaq and started trading at $17 on July 19th under the ticker symbol, TLRY. In September 2018, the stock price skyrocketed and reached its highest level of the year at over $214.
- The company’s products all centre around medicinal cannabis and they are available in two forms – extracts (full spectrum cannabis extract and purified cannabis extract) and dried cannabis flowers (milled flowers and whole flowers). These products are available in about ten countries, across five continents.
- In December 2018, Tilray and AB InBev announced a partnership limited to Canada, to do some research about non-alcohol beverages containing tetrahydrocannabinol (THC) and cannabidiol (CBD). Both companies believe that the legal market for THC/CBD drinks will allow the marijuana industry to thrive.
- In December 2018, Tilray announced that it was entering a global supply and distribution agreement with Novartis AG to develop and distribute its medical GMP-certified cannabis products globally. This global partnership will also strengthen the credibility of Tilray’s products and allow the company to take advantage of the well-established network and sales force of the Swiss company – not to mention its global distribution network.
Investing in the cannabis industry can be profitable, but this fast-changing field is also a complex one. There will certainly be many challenges that marijuana companies like Tilray will have to face in the future to further develop their product offering. Volatility can therefore be a great trading tool to use with money and risk management tools – get ready for the bumpy road ahead and always protect your trading capital!