The 'New' Tilray Launches Medical Cannabis Brand Symbios, Announces New Aphria Topicals

On Tuesday, Canadian cannabis company Tilray, Inc. (NASDAQ: TLRY) (TSX: TLRY) announced the launch of a new brand dubbed Symbios.

This is the inaugural brand produced by the "new" Tilray and will provide medical patients with a broader spectrum of formats and cannabinoid ratios at a fair and reasonable price.

The offering includes a myriad of cannabis products such as dry flower, oils and pre-rolls.

The Canadian cannabis giant recently wrapped up a merger with cannabis grower Aphria (NASDAQ: APHA) after months of negotiations.

Cantor Fitzgerald's Pablo Zuanic recently lowered a 12-month price target on Tilray's stock to $22 from $30.25 with an Overweight rating, ahead of the company's financial report for the quarter ending fiscal 2021.

"Medical cannabis innovation and patient care are core to the new Tilray's business and global growth strategy," Irwin D. Simon, CEO of Tilray, said. "As we look ahead, we remain focused on building momentum across our three medical brands – Symbios, Aphria, and Tilray - while meeting the large and growing demand for new, high-quality cannabis products that promote health, wellness, and wellbeing."

Aphria's New Topicals

Tilray simultaneously announced new medical cannabis topicals under the Aphria brand.

The products are aimed at helping patients who suffer from inflammatory joint disease by treating tissue inflammation when administered topically to the skin.

The new topicals are vegan and cruelty-free and include CBD 750 – which contains 750mg of CBD – and Balance 750, consisting of 375mg of THC and 375mg of CBD.  

"Symbios and our new Aphria topical treatments are exciting new additions to our medical portfolio in Canada, providing our patients with a broader selection of unique product formats to meet their needs and preferences," Jim Meiers, president of Tilray Canada, commented.

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