Tilray unit receives German medical cannabis trading license

German medical cannabis production and distribution company Tilray Brands (Nasdaq: TLRY) today announced that its wholly-owned unit Aphria RX has received a trading license, which will allow it to sell and distribute a broad range of medical cannabis products to pharmacies, hospitals, and medical wholesalers throughout Germany.

The European medical cannabis market alone is expected to be worth over $20 billion by 2030, driven by increasing acceptance and regulatory advancements.

"This milestone of Aphria RX obtaining both its new cultivation license as well as its trading license further expands Tilray's leadership in medical cannabis research, cultivation, production and distribution in Germany and once again proves our commitment to be one of the most responsible, trusted and market leading cannabis companies in the world with a portfolio of innovative and high-quality products that address the needs of patients. We remain dedicated to advocating for responsible cannabis regulations, education and research and accessibility to high-quality medical cannabis," said Denise Faltischek, chief strategy officer and head of International at Tilray.