Brendan Kennedy, CEO of medical cannabis producer Tilray, poses in a greenhouse of the Canadian company’s European production site in Cantanhede on April 24, 2018.
Patricia De Melo Moreira | AFP | Getty Images
Brendan Kennedy, CEO of the Canadian cannabis company Tilrayis optimistic that the United States will take steps towards federal marijuana legalization in the near future, a move that will shake the industry forever.
“I assume that the pressure from the north and the south will eventually cause the US to implement a federal program here sometime in the next 18 to 24 months,” said Kennedy in an interview on CNBCs “Squawk on the Street” Wednesday.
Earlier this month Mexico has published regulations on medical cannabis use and Kennedy is confident that Mexico and Canada’s positive stance on marijuana will put more pressure on the US.
Tilray announced Tuesday that it has been selected as the supplier of medical cannabis for experimentation in France from the country’s National Agency for the Safety of Medicines and Health Products.
The company has been Selling its cannabis products in Germany. With the French program launched in the first quarter, Kennedy is optimistic that other European countries will run medical marijuana programs as well.
“While we look forward to our opportunities in Germany and France, we expect additional opportunities for our European companies in the coming quarters,” said Kennedy in an interview with CNBC.
Tilray has licenses to produce cannabis in Canada and Portugal, where the main cannabis facility is located.