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A worker inspects cannabis plants inside the grow room at the Aphria Inc. diamond factory in Leamington, Ontario, Canada on Wednesday, January 13, 2021. Tilray Inc. and Aphria Inc. have agreed to combine their operations , forming a new giant in the fast growing cannabis industry.
Annie Sakkab | Bloomberg | Getty Images
Shares of Canadian cannabis company Tilray jumped nearly 10% on Tuesday after announcing that the French government had asked it to supply cannabis for medical experiments.
The National Agency for the Safety of Medicines and Health Products will begin this study from 18 to 24 months during the first quarter. Tilray’s products will treat patients with neuropathic pain, epilepsy and multiple sclerosis who are not relieved by existing treatments.
Tilray will export medical grade cannabis products from its facility in Cantanhede, Portugal, which serves as the primary research and development site for medical cannabis.
“Today’s announcement marks another important milestone for Tilray as we expand our business in Europe,” said Tilray Managing Director Brendan Kennedy.
Tilray’s shares have fallen about 2% in the past 12 months, bringing its market value to $ 2.53 billion.
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