The Canadian marijuana producer Tilray plans to start shipping their first products over seas. The company announced that they will be exporting two varieties of liquid capsules to medical marijuana patients in residing in Croatia. This will mark the first Canadian marijuana producer to start shipping overseas, this comes after they were recently issued the first permit from Health Canada.
This is all really good news for Tilray, but business isn’t going as well as they expected. More from CTV News:
Meanwhile, the number of registered Canadian patients is lower than many in the medical cannabis industry had initially expected, says Kennedy.
“The patient numbers overall are lower than we imagined in Canada, and they’re certainly lower than Health Canada’s own projections,” says Kennedy. “Certainly that incentivized us to look at other potential markets for this product.”
As of the end of last year, there were just shy of 40,000 patients registered under the Marijuana for Medical Purposes program, according to statistics available on Health Canada’s website. Globally, however, there is massive demand for pharmaceutical cannabis products, says Kennedy, and Tilray is looking to capture some of that demand.
“This is a rapidly developing industry around the world,” says Kennedy. “Our intent is to build a global company that is investing significantly in global expansion. There is often this misconception that medical cannabis is a North American phenomenon, and that’s not the case. We see massive changes in places like Australia and throughout the EU.”
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