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Brendan Kennedy, CEO of medical cannabis producer Tilray, poses in a greenhouse at the Canadian company’s European production site in Cantanhede, April 24, 2018.
Patricia De Melo Moreira | AFP | Getty Images
Brendan Kennedy, CEO of Canadian cannabis company Tilray, is optimistic that the United States will take steps towards federal legalization of marijuana in the near future, a move that will rock the industry forever.
“I expect the pressure from North and South to eventually lead the United States to implement a federal program here at some point in the next 18 to 24 months,” Kennedy said in an interview with ” CNBC’s Squawk on the Street ”Wednesday.
Earlier this month, Mexico released regulations on the use of medical cannabis, and Kennedy is confident that Mexico’s and Canada’s positive stance on marijuana will put more pressure on the United States.
Tilray announced on Tuesday that it had been chosen as the supplier of medical cannabis for experimentation in France by the country’s National Agency for the Safety of Medicines and Health Products.
Since 2017, the company has been selling its cannabis products in Germany. With the French program starting in the first quarter, Kennedy is optimistic that other European countries will also implement medical marijuana programs.
“While we are excited about our opportunities in Germany and France, we expect to see additional opportunities for our European businesses in the coming quarters,” Kennedy told CNBC in an interview.
Tilray holds cannabis production licenses in Canada and Portugal, where their main cannabis facility is located.
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