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How Tilray Is Advancing in International Markets

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Nov. 20 2020, Updated 2:51 p.m. ET

Supplying to international markets

In its earnings call, Tilray (TLRY) stated that its Canadian entity will serve as a production hub to meet global cannabis demand and that its Portugal entity will primarily serve as a distribution hub for global markets, specifically focusing on the European Union. The company’s entities in Australia, Germany, and New Zealand are also expected to serve a marketing and sales function similar to the entity in Portugal.

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Emerging markets

Tilray also discussed developments in the Latin American market during its earnings call. The company hopes to create a strong presence in Latin America with its medical cannabis products in Chile and Brazil. The company called the Chilean cannabis market one of the “most exciting” markets for the development of biopharmaceutical products.

Tilray isn’t the only company making advancements in the Latin American market. Recently, Aurora Cannabis (ACB) (ACBFF) acquired ICC Labs in Latin America. ICC Labs is a licensed producer of medical cannabis in Uruguay and Colombia.

International expansion has become a key interest for companies (HMMJ) including Canopy Growth (WEED). These Canadian companies are in a race to develop a stronghold in international markets so they can be early movers in medical as well as recreational cannabis as more countries move towards legalization.

For ongoing updates, visit Market Realist’s Healthcare sector page.

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