Canadian cannabis producer Tilray has seen around one-third of its market share in Canada evaporate since it merged with Aphria in May, new data suggests, while rival Auxly Cannabis Group has more than doubled its position over the same period.
Tilray reached a deal with Luxembourg’s Ministry of Health to supply the small European country with medical cannabis, the company announced Tuesday, becoming the third Canadian cannabis producer since 2019 to supply the burgeoning market.
Canadian cannabis producer Tilray reported net revenue of $168 million (210 million Canadian dollars) for the June-August quarter, the first full quarter of sales after the merger between Aphria and Tilray closed earlier this year.
Marijuana producer Tilray Inc. is shutting down a “‘flagship” facility in Nanaimo, British Columbia, as part of the company’s plan to save money following its merger with Aphria, the company confirmed in an email to MJBizDaily.
Last week, British Columbia-based Tilray (TLRY on Nasdaq, TSX), the second-largest Canadian licensed producer by market cap, announced a transaction to gain a substantial interest in U.S. cannabis retailer MedMen.
Once-rival cannabis producers Tilray and Aphria completed their megamerger, the new company announced Monday, forming one of the biggest diversified marijuana, hemp and beer companies in the world.
