Tilray Brands, Inc. (NASDAQ:TLRY) shares rose modestly in premarket trading Thursday after the company announced a major move in Italy's medical cannabis sector.
Tilray Medical Italia now replaces the unit formerly known as FL Group as part of the company's effort to broaden its regulated medical cannabis footprint in Europe, reflecting a strategic commitment to a unified platform across key markets.
Italy remains one of Europe's most regulated medical cannabis markets. Tilray said the newly named entity will offer a wider range of medicines approved by that country's health authorities.
The company also cited collaboration with Molteni Farmaceutici, an Italian pharma partner that supports distribution through hospitals, doctors and pharmacies.
"Italy remains a strategically important market for Tilray Medical as we continue to build a leading, regulated medical cannabis platform across Europe," said Rajnish Ohri, president of international at Tilray Brands.
He said the new branding strengthens local operations and reiterates the company's long-term focus on patient care and physician support.
Medical Cannabis Offerings
Tilray Medical Italia distributes pharmaceutical-grade cannabis products by prescription under Italian Ministry of Health rules.
Its product list includes high-THC flowers plus balanced and THC-CBD oil treatments designed for diverse medical needs.
All therapies are EU-GMP certified and conform to strict quality, safety and regulatory standards.
Through its European medical infrastructure, Tilray supports cultivation, manufacturing and quality oversight across multiple regulated markets.
Partnership With Molteni
Molteni Farmaceutici brings pharmaceutical experience and a broad professional network to Tilray's Italy operation.
The collaboration aims to increase physician engagement and ensure responsible prescribing and patient access.
The move in Italy aligns with Tilray Medical's strategy to unify its global medical cannabis business. The company has active programs in more than 20 countries and emphasizes evidence-based therapies and regulatory compliance.
TLRY Price Action: Tilray Brands shares were up 1.85% at $8.83 during premarket trading on Thursday, according to Benzinga Pro data.
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