Tilray CEO says he expects U.S. federal cannabis legalization within two years

Brendan Kennedy, CEO of Tilray medical cannabis producer, poses in a greenhouse of the Canadian firm’s European manufacturing web site in Cantanhede, on April 24, 2018.

Patricia De Melo Moreira | AFP | Getty Images

Brendan Kennedy, CEO of Canadian cannabis firm Tilray, is optimistic that the United States will take steps towards federal legalization of marijuana within the close to future, a transfer that can shake the trade perpetually.

“I expect that pressure from the North and the South will ultimately lead the U.S. to implement a federal program here at some point in the next 18 to 24 months,” Kennedy stated in an interview on CNBC’s “Squawk on the Street” Wednesday.

Earlier this month, Mexico revealed laws for medical cannabis use and Kennedy is assured that Mexico and Canada’s constructive stance on marijuana will put extra strain on the U.S.

Tilray introduced Tuesday that it has been chosen as a provider of medical cannabis for experimentation in France by the nation’s National Agency for the Safety of Medicines and Health Products.

Since 2017, the corporate has been promoting its cannabis merchandise in Germany. With the French program getting underway within the first quarter, Kennedy is optimistic that different European international locations will implement medical marijuana packages as nicely.

“While we are excited for our opportunities in Germany and France, we expect to see additional opportunities for our European businesses in the coming quarters,” Kennedy informed CNBC in an interview.

Tilray has cannabis manufacturing licenses in Canada and Portugal, the place their primary cannabis facility is positioned.

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