Tilray, Inc. (NASDAQ: TLRY) is launching a new medical marijuana product called Symbios. The company said that the new brand was developed to provide a broader product at a better price point. Potency will 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).
Tilray said that the difference between the Aphria flower and Symbios flower is potency. All Aphria flower is hand-selected, hand-packed and guaranteed to be above 18% potency whereas Symbios’ potency will 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.
Irwin D. Simon, Tilray’s Chief Executive Officer, said, “Medical cannabis innovation and patient care are core to the new Tilray’s business and global growth strategy. As we look ahead, we remain focused on building momentum across our three medical brands – Symbios, Aphria, and Tilray — while meeting the large and growing demand for new, high-quality cannabis products that promote health, wellness, and wellbeing.”
In addition to launching Symbios, Tilray also announced new high-potency, medical cannabis topicals under the Aphria brand designed to target inflammatory joint disease by regulating tissue inflammation when applied topically to the skin. They are made from a vegan and cruelty-free cream formulation and include CBD 750 (containing 750mg of CBD) and Balance 750 (containing 375mg of THC and 375mg of CBD).
Jim Meiers, President, Tilray Canada, added, “Symbios and our new Aphria topical treatments are exciting new additions to our medical portfolio in Canada, providing our patients with a broader selection of unique product formats to meet their needs and preferences. Our industry is only in the early stages of creating and bringing to market cannabinoid medicine options that meet patient needs. We are committed to building our leadership position in Canada now and into the future.”
Symbios and Aphria’s new high-potency topicals join a range of other products, including cannabis oils, soft gels, oral sprays, whole dried flower, and vapes that are now available to all medical patients through the Aphria online medical patient portal.