Tilray is exiting New Zealand’s medical cannabis market to focus on Australia

Tilray Medical is leaving New Zealand’s medical cannabis market to focus on its MMJ operations in Australia.

The Sydney-based medical cannabis company said its final day operating in New Zealand will be May 31, according to The Post.

Tilray Medical is a division of Canadian operator Tilray Brands, which has offices in Leamington, Ontario, and New York.

“Our priority is to manage this transition effectively, minimizing any disruption and ensuring Tilray patients in New Zealand have access to necessary treatments during and after the transition period,” Tilray Medical, the first medical cannabis company to operate in New Zealand, told The Post in a statement.

The company, which reported international sales of $13.9 million during the three months ended Feb. 28, said no Tilray employees were impacted by the decision to exit the market.

Sally King, executive director of the New Zealand Medical Cannabis Council, said patients still have options for obtaining medical marijuana products, including Canada-based Aurora Cannabis.

“Aurora is in the process of really establishing themselves in the New Zealand market,” King told The Post.

“It’s a real sign of confidence in the New Zealand market that they want to be here.”

Aurora sold more than $11 million worth of products in Australia and New Zealand last year, according to the New Zealand-based news outlet.

Tilray Medical recently started selling medical cannabis edibles to patients in Australia.

Tilray Brands trades as TLRY on the Nasdaq and Toronto Stock Exchange.