Brendan Kennedy, CEO of Tilray medical cannabis producer, poses in a greenhouse at the Canadian company’s European production site in Cantanhede on April 24, 2018.
Patricia De Melo Moreira | AFP | Getty Images
Brendan Kennedy, CEO of Canadian cannabis company Tilray, is optimistic that the United States will take steps towards federal legalization of marijuana in the near future, a move that will shake the industry forever.
“I expect the pressure from the North and South will eventually lead the US to implement a federal program here sometime in the next 18-24 months,” Kennedy said in an interview on CNBC’s “Squawk on the Street” Wednesday. .
Earlier this month, Mexico published regulations for medical cannabis use, and Kennedy is confident that Mexico and Canada’s positive attitudes toward marijuana will put more pressure on the US.
Tilray announced on Tuesday that it has been selected as a supplier of medicinal cannabis for experiments in France by the National Agency for the Safety of Medicines and Health Products.
Since 2017, the company has been selling its cannabis products in Germany. With the French program starting in the first quarter, Kennedy is optimistic that other European countries will also implement medical marijuana programs.
“While we are excited about our opportunities in Germany and France, we expect additional opportunities for our European businesses in the coming quarters,” Kennedy told CNBC in an interview.
Tilray is licensed for cannabis production in Canada and Portugal, where their main cannabis facility is located.