A worker inspects cannabis plants in the cultivation room of Aphria Inc.’s diamond facilities. in Leamington, Ontario, Canada, Wednesday, January 13, 2021. Tilray Inc. and Aphria Inc. they 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 rose nearly 10% on Tuesday after announcing the French government took advantage of it to provide cannabis for medical experiments.
The French National Agency for the Safety of Medicines and Health Products will begin the study from 18 to 24 months during the first trimester. Tilray products will treat patients with neuropathic pain, epilepsy and multiple sclerosis who do not receive relief from existing treatments.
Tilray will export medical grade cannabis products from its facilities in Cantanhede, Portugal, which serves as the main site for medical cannabis research and development.
“Today’s announcement marks another milestone for Tilray as we expand operations in Europe,” said Brendan Kennedy, Tilray’s chief executive.
Tilray shares have fallen about 2% in the last twelve months, raising their market value to $ 2.53 million.