|Traded as||NASDAQ: TLRY|
Number of employees
Tilray is a Canadian pharmaceutical and cannabis company, incorporated in the United States with primary operations headquartered in Toronto, Ontario. Tilray also has operations in Australia & New Zealand, Germany, Portugal, and Latin America.
Tilray was founded in 2013. It was originally incorporated under the umbrella of Seattle-based Privateer Holdings. Tilray became the first medical cannabis producer in North America to be GMP certified in December 2016. In July 2018 the company became the first cannabis company to IPO on the NASDAQ and trades under the ticket symbol TLRY. In September 2018, Tilray became the first Canadian cannabis company to legally export medical cannabis to the U.S. for a clinical trial. In December 2018, the company signed a deal with Novartis AG's subsidiary Sandoz generic pharmaceuticals to sell, distribute and co-brand Tilray's non-smokeable/non-combustible medical cannabis products in legal markets worldwide. On June 19, 2018, Tilray announced the launch of High Park Company which would operate in the adult recreational cannabis market to establish unique adult-use brands in Canada upon its legalization.
Tilray made history by being the first cannabis company to debut on a major U.S. stock exchange in July 2018. TLRY debuted on the NASDAQ at a price of $17 per share, and rose dramatically in September 2018 to $214 per share. According to Renaissance Capital, TLRY is the top 10 performers in the U.S. stock market.
Global Operations and Exports
Tilray owns and operates global subsidiaries to serve the medical cannabis market in jurisdictions where it is legal and regulated:
- Tilray Inc. - located in Toronto, Ontario
- Tilray Deutschland GmbH - located in Berlin, Germany
- Tilray Portugal Unipessoal, Lda. - located in Cantanhede, Portugal
- Tilray Australia New Zealand Pty. Ltd. - located in Sydney, Australia
- High Park Farms, Ltd., located in Enniskillen, Ontario is a wholly owned subsidiary of Tilray Inc, cultivating cannabis primarily for the adult-use market in Canada.
- High Park Holdings Ltd., located in London, Ontario is a wholly owned subsidiary of Tilray Inc, is a processing, distribution and research affiliate of High Park Farms and High Park Company.
In 2018, Tilray announced it had entered into global alliance with Sandoz, a division of Novartis to co-brand and distribute non-combustible medical cannabis products in global markets where it is legally authorized. The Globe and Mail dubbed this partnership as ‘big-pharma’s first foray into cannabis’.
Also in 2018, Tilray announced a $100-million joint venture with the world's largest brewer, AbInBev to research non-alcohol THC and CBD-infused beverages, through their respective subsidiaries Labatt Breweries and High Park Company.
In 2019, Tilray signed a creative $250-million revenue-sharing deal with U.S. based brand company Authentic Brands Group. The partnership will see Tilray leveraging some of ABG's biggest brand names like, Juicy Couture, Greg Norman and Nine West to create cannabis products, powered exclusively by Tilray. ABG has a portfolio of over 50 brands.
In 2019, Tilray entered into an agreement with Natura Natural Holdings which owns 155,000 square feet of licensed cultivation greenhouses in Leamington, Ontario. The acquisition doubled the cultivation ability of the company in Canada.
In partnership with University of Sydney, NSW Government, Chris O’Brien Lifehouse, Tilray participating in a clinical trial testing the efficacy and tolerability of medical cannabis as treatment for chemotherapy induced nausea & vomiting.
Led by the The Hospital for Sick Children, in Toronto, Canada, Tilray provided 2:100, the highest concentration of CBD available in Canada, to test the efficacy and tolerability of medical cannabis oil as treatment for pediatric epilepsy/dravet syndrome. The study showed favourable results.
In partnership with the Grupo Español de Investigación en Neurooncología GEINO, in Spain, Tilray supplied medical cannabis products for the trial testing the efficacy and tolerability of medical cannabis as treatment for glioblastoma.
Current Board Members
- Brendan Kennedy (2018) – Tilray CEO
- Christine St.Clare (2018) – Ret. Partner, KPMG
- Rebekah Dopp (2018) – Principal, Google
- Scotty Greenwood (2018) – Principal, Dentons
- Michael Auerbach (2018) – Senior Vice President, Albright Stonebridge Group
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- "Brewer AB InBev partners with Tilray to tap cannabis drink market". Reuters. 2018-12-19. Retrieved 2019-02-12.
- Cannabis (2019-01-15). "Tilray signs creative $250-million revenue-sharing deal with U.S. brand powerhouse ABG | Financial Post". Retrieved 2019-02-12.
- "Tilray® to Acquire Natura Naturals Holdings Inc. for up to C$70 Million Subject to Performance Milestones". Tilray. Retrieved 2019-02-27.
- "Tilray to buy Natura for up to $70M, doubling Canadian cannabis growing capacity | CTV News". www.ctvnews.ca. Retrieved 2019-04-01.
- "Medicinal Cannabis Factsheet" (PDF).
- Children, The Hospital for Sick. "First Canadian paediatric study of mixed THC/CBD cannabis oil shows promise for children with drug-resistant epilepsy". www.sickkids.ca. Retrieved 2019-02-12.
- "SickKids to study oral cannabis treatment in kids with severe epilepsy". Retrieved 2019-02-13.
- "Tilray introduces new high-CBD extract". www.tilray.ca. Retrieved 2019-02-13.
- Aug 01, Adam Carter · CBC News · Posted:; August 1, 2018 7:00 AM ET | Last Updated:; 2018. "'It's life changing': Mom credits new cannabis oil study with helping daughter's epilepsy | CBC News". CBC. Retrieved 2019-02-13.
- "UBC & Tilray Launch Clinical Trial to Study Medical Cannabis & PTSD - Business Examiner". www.businessexaminer.ca. Retrieved 2019-02-13.
- "Tilray CEO talks about medicinal marijuana company's future in Nanaimo and globally". Nanaimo News Bulletin. 2018-07-20. Retrieved 2019-02-13.