Brendan Kennedy, CEO of medical cannabis producer Tilray, puts a greenhouse in the Canadian company’s European production plant in Cantanhede on April 24, 2018.
Patricia De Melo Moreira AFP | Getty Images
Brendan Kennedy, CEO of the Canadian cannabis company Tilray, is optimistic that the United States will take steps toward federal legalization of marijuana in the near future, a move that will shake up the industry forever.
“I hope North and South pressure will end up leading the U.S. to implement a federal program here sometime in the next 18 to 24 months,” Kennedy said in an interview with CNBC’s “Squawk on the Street.”
Earlier this month, Mexico issued regulations on medical cannabis use, and Kennedy is confident that Mexico and Canada’s positive stance on marijuana will put more pressure on the U.S.
Tilray announced Tuesday that he was chosen as a supplier of medicinal 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 launch of the French program in the first quarter, Kennedy is optimistic that other European countries will also implement medical marijuana programs.
“While we are delighted with our opportunities in Germany and France, we look forward to seeing additional opportunities for our European companies in the coming quarters,” Kennedy told CNBC in an interview.
Tilray has cannabis production licenses in Canada and Portugal, where its main cannabis plant is located.