Tilray Medical Announces New Scientific Publication on Age-Related Patterns of Medical Cannabis Use
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The findings from Tilray's study, indicating a significant portion of medical cannabis users reporting a reduction in prescription opioid use, could have meaningful implications for the pharmaceutical industry. As medical cannabis gains traction as an alternative or adjunct treatment, particularly among older demographics, pharmaceutical companies that produce opioid medications might experience a shift in demand patterns. This shift could potentially lead to reduced revenues for opioid manufacturers and encourage further research into the efficacy and safety of medical cannabis as a pain management option.
Moreover, the reported decrease in the use of substances such as alcohol and tobacco in conjunction with medical cannabis use may suggest broader public health benefits. This could lead to increased interest and investment in medical cannabis research from both private and public sectors, potentially affecting the stock market valuation of companies like Tilray that are actively involved in this research. However, the long-term impact on the healthcare system and the pharmaceutical market will depend on continued clinical validation and regulatory developments surrounding medical cannabis use.
The study's emphasis on age-related patterns of medical cannabis use highlights a growing market segment that companies like Tilray are targeting. With an aging global population and a rising prevalence of chronic conditions such as arthritis and chronic pain, the demand for alternative therapies is likely to increase. This could lead to expanded market opportunities for medical cannabis products, especially in jurisdictions where regulatory frameworks are becoming more favorable.
Investors may find this information valuable as it indicates a strategic direction for Tilray and other medical cannabis providers. Their ability to capture and serve this demographic could be a critical factor in their future growth and market share. As the medical cannabis industry continues to evolve, the entry of new players and potential partnerships with traditional pharmaceutical companies could reshape the competitive landscape, influencing stock market dynamics in this sector.
The reduction in prescription opioid use reported by participants in the Tilray study may have financial implications for investors in both the medical cannabis and traditional pharmaceutical sectors. If these findings lead to a broader acceptance and integration of medical cannabis into treatment protocols, Tilray and similar companies could see an increase in their customer base and revenue streams. This could be particularly significant given Tilray's presence in over 20 countries and their portfolio of THC and CBD products.
However, investors should also consider the regulatory risks and the pace of legalization across different regions. While some countries are liberalizing their stance on medical cannabis, others remain stringent. These regulatory environments will greatly influence Tilray's ability to capitalize on the study's findings. Furthermore, it is important to monitor how insurance companies adapt to these trends, as coverage for medical cannabis could significantly affect patient accessibility and company profits.
Tilray Led Study Shows Chronic Pain, Arthritis, Anxiety, and Insomnia as Primary Illnesses and Symptoms for Medical Cannabis Use
NEW YORK, April 03, 2024 (GLOBE NEWSWIRE) -- Tilray Medical, a division of Tilray Brands, Inc. ("Tilray") (Nasdaq: TLRY; TSX: TLRY) and a global leader in medical cannabis, empowering the therapeutic alliance between patients and healthcare practitioners to make informed individualized health decisions, transforming healthcare, today announced a new Tilray led scientific publication, Age-related Patterns of medical Cannabis Use: A Survey of Authorized Patients in Canada. The new study was derived from the Canadian Cannabis Patient Survey (CCPS) 2021, comprised of 2,697 patients and focused primarily on older patients with a mean age of 54.3. This study presents to the medical and scientific community the consumption trends observed in patients and the self-reported impacts from medical cannabis in alleviating the patients’ primary symptoms.
The Age-related Patterns of Medical Cannabis Use study finds that older patients comprise a growing subset of medical cannabis patients. The primary illnesses and symptoms for which medical cannabis was sought after by patients in this study were chronic pain (
José Tempero, Tilray’s Medical Director, said, "Our role in this initiative exemplifies our commitment to medical research, leading us one step closer to unlocking the full therapeutic potential of medical cannabis."
Tilray Medical’s mission is to continue transforming lives and fostering dignity for patients in need through access to medical cannabis, and today is a leading provider of EU-GMP certified medical cannabis products in over 20 countries with a comprehensive portfolio of THC and CBD products. Tilray has supported medical trials globally, across Europe, Canada, the United States, Australia, and Latin America, studying the efficacy of medical cannabis as a treatment for indications including pediatric epilepsy, refractory pediatric epilepsy, cancer-induced nausea and vomiting, HIV, essential tremor, breast cancer disorders, post-traumatic stress disorder, and alcohol use disorders.
About Tilray Medical
Tilray Medical is dedicated to transforming lives and fostering dignity for patients in need through safe and reliable access to a global portfolio of medical cannabis brands, including Tilray, Aphria, Broken Coast, Symbios and Navcora. Tilray grew from being one of the first companies to become an approved licensed producer of medical cannabis in Canada to building the first GMP-certified cannabis production facilities in Europe, first in Portugal and later in Germany. Today, Tilray Medical is one of the largest suppliers of medical cannabis to patients, physicians, hospitals, pharmacies, researchers, and governments, in 20 countries and across five continents.
For more information on Tilray Medical, visit Tilray Medical Europe, Tilray Medical Canada, and Tilray Medical Australia-New Zealand.
About Tilray Brands
Tilray Brands, Inc. (Nasdaq: TLRY; TSX: TLRY), is a leading global cannabis-lifestyle and consumer packaged goods company with operations in Canada, the United States, Europe, Australia, and Latin America that is changing people's lives for the better – one person at a time. Tilray Brands delivers on this mission by inspiring and empowering the worldwide community to live their very best life and providing access to products that meet the needs of their mind, body, and soul while invoking wellbeing. Patients and consumers trust Tilray Brands to deliver a cultivated experience and health and wellbeing through high-quality, differentiated brands and innovative products. A pioneer in cannabis research, cultivation, and distribution, Tilray’s unprecedented production platform supports over 20 brands in over 20 countries, including comprehensive cannabis offerings, hemp-based foods, and craft beverages.
For more information on how we open a world of wellbeing, visit www.Tilray.com.
Forward-Looking Statements
Certain statements in this communication that are not historical facts constitute forward-looking information or forward-looking statements (together, “forward-looking statements”) under Canadian and U.S. securities laws and within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be subject to the “safe harbor” created by those sections and other applicable laws. Forward-looking statements can be identified by words such as “forecast,” “future,” “should,” “could,” “enable,” “potential,” “contemplate,” “believe,” “anticipate,” “estimate,” “plan,” “expect,” “intend,” “may,” “project,” “will,” “would” and the negative of these terms or similar expressions, although not all forward-looking statements contain these identifying words. Certain material factors, estimates, goals, projections, or assumptions were used in drawing the conclusions contained in the forward-looking statements throughout this communication. Forward-looking statements include statements regarding our intentions, beliefs, projections, outlook, analyses, or current expectations. Many factors could cause actual results, performance, or achievement to be materially different from any forward-looking statements, and other risks and uncertainties not presently known to the Company or that the Company deems immaterial could also cause actual results or events to differ materially from those expressed in the forward-looking statements contained herein. For a more detailed discussion of these risks and other factors, see the most recently filed annual information form of Tilray and the Annual Report on Form 10-K (and other periodic reports filed with the SEC) of Tilray made with the SEC and available on EDGAR. The forward-looking statements included in this communication are made as of the date of this communication and the Company does not undertake any obligation to publicly update such forward-looking statements to reflect new information, subsequent events, or otherwise unless required by applicable securities laws.
Contacts:
Tilray Brands:
Berrin Noorata
news@tilray.com
Investors
Raphael Gross
203-682-8253
Raphael.Gross@icrinc.com
FAQ
What are the primary illnesses and symptoms for medical cannabis use according to Tilray's study?
What percentage of medical cannabis patients reported a decrease in prescription opioid use?
Who is the Medical Director of Tilray?
In how many countries is Tilray a leading provider of EU-GMP certified medical cannabis products?
What are some of the indications studied in medical trials supported by Tilray?
