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Tilray Brands (NASDAQ:TLRY) announced Thursday that regulators in Portugal cleared THC 5 CBD 20, paving the way for the Canadian marijuana firm to launch its first medical cannabis extract approved in the country.
“This is a monumental step forward for patient care in Portugal,” TLRY’s chief strategy officer, Denise Faltischek, noted.
The decision confirmed on Monday allows the company to launch oral THC 5 CBD 20 in late spring, Tilray (TLRY) said, adding that the product is indicated for several critical areas in medical care.
“With the approval of our first medical cannabis extract, we are proud to be at the forefront of medical cannabis research and accessibility and continue to demonstrate our commitment to providing innovative, safe, and effective therapeutic options to patients,” Faltischek added.