Tilray Brands, Inc. (Nasdaq: TLRY) is combining its medical marijuana brands and naming it Tilray Medical. Tilray said it is bringing together the medical divisions from Aphria and Tilray for one global medical platform. Tilray Medical will feature the brands with one strategy, mission, and vision.
“Tilray is the global leader in the advancement of cannabinoid-based medicine, with a focus on providing research-backed medical cannabis products to physicians, pharmacies, and patients,” said Denise Faltischek, Head of International and Chief Strategy Officer. “By unifying the global medical divisions of Tilray and Aphria under a cohesive strategy and mission, Tilray Medical emerges as the premier global supplier of a portfolio of high-quality, effective medical cannabis brands and products for patients in need around the world.” Tilray acquired Aphria and officially closed the deal in May of 2021.
Leaning Into Medical
Tilray has been leaning into the medical marijuana side of the industry. Not long after Tilray acquired Aphria, it launched a value medical line called Symbios. The company said that the new brand was developed to provide a broader product at a better price point. Potency is set to range from 15%-18% and all flower is grown in the same Greenhouse as Aphria-branded flower. Current strains include Nordle, Treasure Island, Sour Kush, Jack Herer, Exodus Cheese, and Grower’s Blend (milled flower).
At the time, Tilray said that the difference between the Aphria flower and Symbios flower was potency. All Aphria flower was hand-selected, hand-packed, and guaranteed to be above 18% potency whereas Symbios’ potency was intended to be slightly lower but priced at a more affordable price-point. The difference between the brand’s oils, which are made in Aphria’s greenhouse facility is that Aphria’s CBD oils are made with full-spectrum oil, meaning it’s as close as you can get to the whole plant in oil form. This means that it contains plant matter, terpenes and some minor cannabinoids, helping to create the “Entourage effect”. Symbios oils, on the other hand, are distillate-based, meaning it’s a pure representation of that specific cannabinoid. Because it’s a purer form of the cannabinoid, most terpenes and minor cannabinoids have been removed.
In January, Tilray announced the expansion of its medical cannabis product offering in Australia and a new medical cannabis e-learning platform for healthcare providers. Denise Faltischek, Head of International and Chief Strategy Officer, said, “Tilray is transforming the industry globally with our highly scalable footprint and portfolio of diverse cannabis products. As medical cannabis demand increases worldwide, we remain committed to providing healthcare professionals and patients with safe and reliable access to the highest-quality medical cannabis products.” Ms. Faltischek continued, “After listening to patient feedback and leveraging learnings from our operations in Germany, we are excited to be introducing new products in Australia that meet consumer needs.”