Tilray Medical to expand cannabis operations into Panama

NEW YORK - Tilray Medical, a division of Tilray Brands, Inc. (NASDAQ:TLRY and TSX: TLRY), a $1.91 billion market cap company with annual revenues of $830.77 million, announced Monday it will expand its medical cannabis operations into Panama through a new joint venture with Top Tech Global Inc.

The companies have formed Solana Life Group, which has received a medical cannabis license from Panama’s National Directorate of Pharmacy and Drugs. The license authorizes cultivation, manufacturing, import, export, distribution and sale of medical cannabis products in the country.

Top Tech Global, whose members have been distributing medical devices since 2014, will provide local expertise while Tilray contributes its global cannabis experience to the venture.

The expansion aims to enhance access to medical cannabis for Panamanian patients through education initiatives and a reliable supply chain. Tilray Medical plans to work with healthcare professionals, regulatory authorities, and patient advocacy organizations in Panama.

This development adds to Tilray Medical’s existing operations across more than 20 countries. The company operates GMP-certified cannabis production facilities in Portugal and Germany, in addition to its Canadian operations.

Tilray Brands operates across multiple sectors including cannabis, beverages, wellness, and entertainment with over 40 brands in more than 20 countries.

The information in this article is based on a company press release statement.

In other recent news, Tilray Inc. announced its first-quarter fiscal year 2026 earnings, revealing a net revenue of $210 million. This figure represents a 5% increase compared to the previous year. The company reported a net income of $1.5 million, marking a significant turnaround from a net loss of $34.7 million the prior year. Tilray’s revenue surpassed forecasts by 2.4%, although its earnings per share (EPS) of $0 fell short of the anticipated -$0.04. These developments indicate a positive shift in Tilray’s financial performance.

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